Materials maker U.S. Bioplastics is hoping its Gatoresin product will take a bite out of the bioplastics market, thanks to funding from a state agency in Florida.
The Winter Park, Fla.-based firm is receiving an unspecified amount of funding for Gatoresin, which is based on feedstock waste, paper production by-products or other plant waste. The material is a bio-renewable, water-degradable plastic designed for use in highly disposable applications, officials said in a July 21 news release. It's based on technology licensed from the University of Florida.
In the release, U.S. Bioplastics founder Lee Strait said that the firm “recognizes the importance of caring for the environment while preserving the health of people through responsible product manufacturing and development.”
The funding is coming from the Florida Institute for Commercialization of Public Research. The non-profit Institute — with offices in Gainesville and Boca Raton — has identified more than 100 new company projects across the state that can benefit from technology developed at Florida's state universities and private research institutions. Its partners include the University of Miami and the University of South Florida.
“Working with environmentally conscious partners, U.S. Bioplastics is offering a viable alternative to a large segment of oil-based, non-degradable plastics,” Institute CEO Jamie Grooms said in the release.