CNBC's Diana Olick is reporting on the connecting between shrimp cocktails and plastic waste polluting. Interesting!
Companies like TemperPack, Green Cell, and Cruz Foam are developing recyclable and biodegradable packaging to address the environmental impact of single-use plastic and Styrofoam. Cruz Foam, a California-based startup, is using shrimp shells to create biodegradable foam called chitin, which can be composted or will quickly degrade in landfills.
By repurposing waste materials, the company is able to produce cost-effective alternatives to plastics. Cruz Foam provides the material to packagers, allowing them to scale production efficiently.
The company's products include cold packaging for foods and protective wrap, replacing traditional bubble wrap. It has received significant investments from firms like Regeneration.VC, Helena, Sound Waves, At One Ventures, and One Small Planet, with total funding reported at $18 million.
(This article was written with assistance from ChatGPT)