ELMWOOD PARK, N.J (June 22, 9:55 a.m. ET) — Sealed Air Corp. is teaming up with Ecovative Design LLC of Green Island, N.Y., to accelerate the production and marketing of plant-based packaging technology.
Sealed Air will be the exclusive licensee of Ecovative's EcoCradle packaging for the North American protective packaging market.
EcoCradle technology uses agricultural byproducts as a feedstock for fungal mycelium, or mushroom roots. The mycelium is grown in molds and oven-dried to form rigid packaging. According to Ecovative, the material can replace expanded polystyrene, expanded polypropylene and expanded polyethylene.
The two companies have been working on the agreement since January, according to a June 20 news release. Details of the transaction have not been disclosed.
Elmwood Park, N.J., -based Sealed Air will begin offering the new products immediately.