Krill Design, a start-up engaged in the transformation of organic by-products into sustainable biomaterials, announces that it has obtained a total investment of EUR 6 million from Algebris Climatech Investments acting as lead investor, Primo Capital, through its Primo Climate fund, and Crédit Agricole Italia.
The investment will enable the start-up to build a new state-of-the-art production facility designed to meet the growing demand for innovative and sustainable biomaterials, such as its flagship patent, Rekrill. This plant will allow Krill Design to expand production capacity and provide a concrete alternative to petrochemical plastics for many companies wishing to reduce their environmental impact.
“This operation demonstrates the validity of the work done and of our vision: to create a circular future in which by-products such as peels, seeds and shells become resources,’ says Ivan Calimani, CEO and founder of Krill Design (in the photo with the other co-founders) in a note. ‘Thanks to the support of Algebris, Primo Climate and Crédit Agricole Italia, we will not only be able to increase production, but also to expand our presence in international markets, giving companies that produce products in petrochemical plastics the opportunity to have a viable sustainable alternative.
“We decided to invest in Krill Design because we found a stubborn team, one of the few in southern Europe that was able to develop a very flexible production technology and was able to offer its customers a reliable material that meets the mechanical, thermal and aesthetic requirements of the key industries for Italian manufacturing, such as design, automotive and consumer goods; this in a market, that of bio-polymers, that will grow at 30% per year in the next 7-10 years,’ says Marco Turchini, managing partner of Algebris Climatech which embraces an investment strategy to support innovation that improves impact and helps combat climate change.
“Supporting Krill Design means investing in a long-term vision for a more sustainable industry,” adds Giusy Cannone, partner at Primo Climate. “The goal is to support the growth of a company that is redefining the biomaterials sector, offering concrete solutions to reduce dependence on traditional plastics.
“This investment reflects our commitment to supporting innovative companies and our focus on sustainable issues,” adds Andrea Riva, head of open innovation at Crédit Agricole Italia. “We will continue to make our Village by CA network and our expertise available to foster the commercial and international development of start-ups that, like Kirill Design, stand out for the uniqueness of their projects.
The investment is part of the PNRR framework with a share of the capital financed by the European Union under the NextGenerationEU programme.
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