The plastics industry is one of the largest in world worth half a trillion dollars in annual sales. The bioplastics component of that industry has been growing at about 33 per cent annually. Solegear is North America’s largest producer of bioplastics with clients including one of the world’s largest toy manfacturers based in Europe.
Bioplastics include both durable plant-based plastics and biodegradable plastics that compost in less than 180 days. Costs are coming down for bioplastic production.
In 2012, Solegear became venture backed including an investment by Yaletown Venture Partners and Best Buy Capital, the venture capital arm of Best Buy Corporation. In 2015, Solegear is moving to list on the TSX Venture Exchange.
Watch BNN Business News interview with Toby Reid, CEO Solegear Bioplastic Technologies