Bioplastics manufacturer Gaia Biomaterials secure $5 million rights issue.
Swedish bioplastics manufacturer Gaia Biomaterials has successfully concluded a $5 million rights issue. The rights issue is backed by the Swedish state owned greentech venture capital fund Almi Invest Greentech, and private international and domestic investors. Funds will be used to expand market penetration in the United States, India, and other targeted markets. Gaia Biomaterials is unique as the company’s home-compostable material, Biodolomer, is based on limestone, one of the most commonly available minerals on earth. Biodolomer can replace fossil plastic in everything from