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Vancouver-based Bioplastics Technology Company Solegear Set to Go Public by End of January 2015
Tuesday, January 20, 2015Company Profile | Follow Company
Vancouver-based Bioplastics Technology Company Solegear has plans to go public in 2015.
Vancouver, BC, January 20, 2015--(T-Net)--Yaletown Venture Partners, one of BC's most active venture capital firms, has reported that its investee company Solegear, one of North America's most innovative plant-based plastics producers, has plans to go public in 2015.
Solegear's CEO Toby Reid confirmed the report in the attached video from BNN, stating that the company is "currently securing financing to get on the TSX Venture Exchange" by the end of this month (January 2015).
The plastics industry is one of the largest in world worth half a trillion dollars in annual sales. The bioplastics component of that industry has been growing at about 33 per cent annually.
Solegear is North America's largest producer of bioplastics with clients including one of the world's largest toy manfacturers based in Europe, according to the company.
Bioplastics include both durable plant-based plastics and biodegradable plastics that compost in less than 180 days. Costs are coming down for bioplastic production.
In 2012, Solegear became venture backed including an investment by Yaletown Venture Partners and Best Buy Capital, the venture capital arm of Best Buy Corporation.
In 2015, Solegear is moving to list on the TSX Venture Exchange, as noted above.
Watch the related BNN Business News interview with Toby Reid, CEO Solegear Bioplastic Technologies here.
About Solegar Bioplastics Technologies
Solegear Bioplastics, based in Vancouver BC, provides customized bioplastic solutions to meet the sustainability needs of today's brand leaders. Founded in 2006, Solegear engineers, produces and distributes a family of high-performance bioplastic products under the brand name Polysole® - a bio-based, non-toxic and compostable/recyclable bioplastic that delivers superior strength and processability compared to other available options.
The company's technology is underpinned by a portfolio of intellectual property developed in collaboration with the University of British Columbia (Vancouver, BC), École Polytechnique (Montreal, QC) and the National Research Council of Canada
About Yaletown Ventures Partners
Yaletown Venture Partners invests in emerging-growth companies in Canada and US Northwest that develop technologies for the intelligent enterprise and sustainable infrastructure.
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