ULUU Raises $8.6M For A Pilot Plant To Start Production Of Textile Fibre Feedstock Using Natural Polymers From Seaweed
November 16 2022 : ULUU, the Australian producer of biosynthetic alternatives to fossil fuel-based materials, are thrilled to share that they have raised $8.6 million from some fantastic people & organisations.
These funds will used to build a pilot plant, progress with first-to-market agreements, and develop a global brand around the ULUU story.
Replacing Plastic, Fighting Climate Change And Improving Our Health
ULUU mitigates plastic pollution at scale, while regenerating our oceans and climate.
They produce a versatile range of natural polymers, PHAs (polyhydroxalkanoates), with the potential to replace many (if not all) plastics, combined with a clean production process using ocean resources – seaweed, seawater and saltwater microbes.
Like Plastic, Produced Naturally
ULUU’s a safe, natural polymer – a type of PHA that’s durable yet truly biodegradable, even in cold, dark conditions such as the ocean (in several months in those conditions, so please dispose wisely).
It’s produced via fermentation – like brewing beer – using saltwater microbes, which reduces fresh water reliance (we use seawater instead!) as well as the need for costly & harmful chemicals and the energy-intensive, slow equipment sterilisation processes others perform.
In contrast, ULUU’s seawater process unlocks “open and continuous fermentation”, where sterilisation downtime is reduced, providing the potential for major yield & cost improvements, while reducing associated GHG emissions.
Seaweed – A Remarkable Feedstock
They utilise farmed seaweed rather than terrestial crops or waste as a carbon source to produce ULUU.
Doing so not only provides economic advantages but, more importantly, the unique potential to scale enough carbon to decouple our polymer economy from fossil fuels.
Further positive externalities include:
1. Uptake of significant carbon pollution from the atmosphere;
2. Ocean re-oxygenation, de-acidification and marine habitat provision;
3. Eutrophication remediation and reduction of harmful bloom events, caused by industrial runoff; and
4. Opportunities to improve the lives of vulnerable people in the seaweed supply chain (often female farmers) living below the poverty line and in remote coastal communities.
ULUU’s Main Investors
As part of the round, ULUU’s existing investors Main Sequence, Possible Ventures and Alberts as well as Mistletoe, Inc. invested in ULUU, along with a number of incredible individuals, including supermodel & entrepreneur Karlie Kloss, Tame Impala’s Kevin Parker, Melvin Benn of Festival Republic, Nathan McLay of Future Classic, and Aussie chef Neil Perry | Rockpool.
We are humbled to have this support, and can’t wait to work together towards replacing plastic with materials that are good for the world.
A big welcome also to our new director Phil Morle – we feel very lucky to have you aboard, helping ULUU reach its economic & impact goals.
Finally, a special thank you goes to the University of Western Australia & champion Rob Shannon for their ongoing support.
Being co-located at the Indian Ocean Marine Research Centre and collaborating with UWA Ocean Institute scientists has played a massive role in incubating ULUU from pre-seed to where we’re at today.
We can’t wait to keep brewing innovation with you, right here in Western Australia.
This is just the beginning, as we work towards a post-plastic world!
