Italy-based Bio-on has collaborated with Rivoira for the development of new materials for food packaging of fresh fruits and vegetables.
As part of the deal, Rivoira has acquired 50% stake in Bio-on’s new company Zeropack, which was established to focus on the development of advanced materials for packaging of fruits and vegetables.
Rivoira has purchased the stake in Zeropack through RK Zero with Carlo Lingua and Paolo Carissimo partners. Bio-on and RK zero is equal to 50% each, after the completion of the deal.
Zeropack will involve in the development of films, crates, small and large containers, fruit supports and natural labels based on bioplastic. The company will also produce biodegradable products from fruit and vegetable wastes.
Zeropack has purchased an exclusive license from Bio-on for €10m to exploit the technology to enhance the development of these solutions for its customers.
Bio-on researchers were carrying out research activities since four years at Italian and US laboratories to develop the technology to restrict new environmental emergency represented by large quantity of plastic waste.
Bio-on president and CEO Marco Astorri said: . The basis of our bioplastic has all the qualities to revolutionize the world of food packaging through Zeropack. This is what people are asking for and we will do it together with Zeropack and the Rivoira group.”
Bio-on has developed bioplastics such as polyhydroxy-alkanoates (PHAs) or poly-hydroxy-butyrates (PHBs) from renewable plant sources.
The company intends to extend the application of these materials in other fields such as food-packaging.
Gruppo Rivoira CEO Marco Rivoira said: “Zeropack anticipates the strategies of the Rivoira Group, always looking for innovations. The mission is to provide total quality of both product and packaging.”
Bio-On is an intellectual property company (IPC), which is engaged in the research and development of advanced bio-fermentation technologies for eco-sustainable and naturally biodegradable materials.
The company has developed an exclusive process to produce PHAs from agricultural waste, including molasses and sugar cane and sugar beet syrups.