Although Lactips is just receiving their first US patent publication in March 2021, they are no strangers to patents. Lactips have a European patent, an international application, an India application, a China application, and a France patent. Additionally, Lactips is a part of the European Plastics Pact, a network created to bring together businesses, governments, innovators, NGOs, and citizens on a national or regional level to work towards ambitious targets and build a plastics system that works.
In 2020, Lactips raised 13 million euros in an investment round that was led by Bpifrance’s SPI and Diamond Edge Ventures. This is particularly important because Diamond Edge Ventures is the investment arm of Mitsubishi Chemical Company, who has major patent activity in the sector as shown in the Patent Radian® below.
The significant investment, patent activity, and market activity indicate that Lactips has the technology and drive to make an impact in the US biodegradable packaging market. Furthermore, with Mitsubishi Chemical Company as an investor, Lactips could already have support in the US, making their expansion easier. Lastly, having a truly plastic-free polymer is revolutionary for the biodegradable packaging industry that is constantly striving to reduce its environmental impact and develop circular economies.
It seems almost surreal, but Lactips appears to be one of, if not the only company selling a plastic-free polymer. The predominantly European market participant may be headed its way to the US and it has the potential to disrupt the market.
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