Pulpex, the pioneering sustainable packaging technology company, has announced the completion of a £62 million Series D funding round. The investment, led by the National Wealth Fund (NWF) with a £43.5 million commitment and a £10 million co-investment from the Scottish National Investment Bank, will support the construction of Pulpex’s first industrial-scale manufacturing facility near Glasgow.
The company has developed an innovative fibre-based bottle that is entirely free from hidden plastics and made from sustainably sourced wood pulp. Designed to be recycled in standard household paper and cardboard waste streams, this packaging offers a viable alternative to glass and plastic with a significantly lower carbon footprint.
A tangible step towards packaging decarbonisation
The new industrial facility will enable the production of up to 50 million bottles per year, creating the UK’s first fibre bottle supply chain and generating 35 new jobs in Scotland. This investment marks a crucial milestone in the transition to more sustainable packaging and reducing dependence on single-use plastics.
Chancellor of the Exchequer, Rachel Reeves, highlighted the importance of this initiative within the government’s strategy for sustainable economic growth:
This latest NWF investment is great news, creating jobs, driving growth, and fostering innovation in sustainable packaging.
A thriving ecosystem for sustainable packaging
Pulpex is already collaborating with some of the world's leading FMCG brands, including Diageo, Unilever, and Kraft Heinz, to develop bespoke solutions for the market. The company currently operates from its R&D centre in Cambridge, but its expansion will accelerate the commercial adoption of its technology.
Our patented technology is market-ready, and this investment will help scale its global adoption. The support from the NWF and the Scottish National Investment Bank allows us to overcome scaling barriers and provide manufacturers with a viable alternative to traditional packaging,
said Scott Winston of Pulpex.
Fibre-based packaging: a solution to the plastic waste crisis
Every day, more than 38.5 million plastic bottles are used in the UK, with around 16 million ending up in landfill or polluting the environment, according to Water UK. The UK government’s 25-Year Environment Plan aims to eliminate all avoidable waste by 2050, and investments such as this one in Pulpex are a strategic lever for reducing the packaging sector’s environmental impact.
Lazard and Damus Capital acted as financial advisers for the Series D funding round. With this investment, Pulpex cements its position as a key player in sustainable packaging innovation, offering a scalable and commercially viable alternative for a plastic-free future.
