Start-up on a mission to a circular economy in packaging
IonKraft secures € 3.5 M equity funding
Aachen-based startup IonKraft GmbH, a spin-off of RWTH Aachen University, has successfully closed a first equity financing round of € 3.5 million. The round was co-led by M Ventures (the strategic investment fund of Merck) and TechVision Fund and joined by High-Tech-Gründerfonds. IonKraft develops innovative plasma-based barrier coatings that can replace non-recyclable barrier solutions and enables a fully circular economy in the Packaging Industry. The capital will be used to prepare the market entry and scale production.
"This financing round is a decisive step to support the market launch of our technology and to prepare for future scaling. We are thrilled to have a diverse group of investors who share our vision and will provide us with support on multiple levels," Benedikt Heuer, Co-Founder of IonKraft.
From Research to Innovation
IonKraft was founded in 2021 by Dr. Montgomery Jaritz and Benedikt Heuer. During his research at the Institute of Plastics Processing, Dr. Jaritz identified a market opportunity for plasma coatings. This led to the development of a new high-barrier technology that makes containers both chemically resistant and fully recyclable, with a barrier effect comparable to that of glass. The patented technology enables packaging producers to replace millions of tons of non- recyclable multilayer or fluorinated (PFAS) packaging that cannot be recycled. Furthermore, the barrier technology can provide sufficient protection to allow the incorporation of recycled materials into packaging for sensitive, food or cosmetics products.
"IonKraft deliver a market-ready coating technology that can easily be integrated into existing production lines. The company holds a huge lever to enable circularity, starting in a sector outside the mainstream focus," Björn Lang, Partner bei TVF Management.
Important Milestones and Market Launch
Supported by the EXIST research transfer program of the Federal Ministry for Economic Affairs and Climate Action (BMWK), the IonKraft team has developed the machine technology to apply their coatings to various types of containers and has validated a wide range of applications with a variety of different industry partners. In 2023, IonKraft received funding from the renowned European EIC Accelerator program, enabling the company to develop its industrial machine and prepare for market launch. The first industrial coating system is on track for customer deployment by year-end. The market launch of the first products with IonKraft coatings is scheduled for 2025.
"We are excited to support IonKraft in their market roll-out and expansion. Their solution addresses strong market demand and aligns with the current momentum of change. With an excellent team and an outstanding track record, we are confident they are well-prepared for any challenges that may lie ahead," Nils Lang, Investment Manager at HTGF.
On a mission to a circular economy in packaging
IonKraft’s mission is to transform the global packaging industry towards a circular economy. The company aims to set a new industry standard for barrier packaging by eliminating non-recyclable materials and offering an environmentally friendly alternative. Over the past two years, IonKraft has validated the effectiveness of its coating across various applications with industry partners, enabling manufacturers to create fully recyclable products while reducing their environmental impact and carbon footprint. With the additional funding, IonKraft plans to expand its team and scale the production of coating machines.
"IonKraft’s innovative coating is appealing for a variety of reasons: it provides an alternative to PFAS, which is being regulated, glass, which is prone to breakage or requires secondary packaging, and has the potential to maximize recycled content in future plastic packaging solutions," Owen Lozman, Managing Director of M Ventures.
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