IonKraft, based in Aachen, Germany, is revolutionizing plastic packaging through the circular economy and has successfully closed its initial equity financing round, raising €3.5 million. This round was co-led by M Ventures, the strategic investment fund of Merck, and TechVision Fund, with participation from High-Tech-Gründerfonds (HTGF), which has recently invested in companies like mediaire and Zymofix.

Source: TechFundingNews

The funds will be utilized to facilitate market entry and scale production.

Previously, IonKraft received backing from the EXIST research transfer program administered by the Federal Ministry for Economic Affairs and Climate Action (BMWK) and acquired funding from the prestigious European EIC Accelerator program last year.

From Lab to Reality

Founded in 2021 by Dr. Montgomery Jaritz and Benedikt Heuer as a spin-off of RWTH Aachen University, IonKraft was born out of Dr. Jaritz's research at the Institute of Plastics Processing, where he discovered a market opportunity for plasma coatings. This insight led to the creation of a novel high-barrier technology that ensures containers are both chemically resistant and fully recyclable, achieving a barrier effect comparable to glass.

Bringing Circular Economy to Packaging

Plastic packaging holds significant potential for recycling; however, recyclability remains a challenge for barrier-protected packaging. IonKraft has developed an innovative plasma-based coating that forms a robust barrier on plastic containers, ensuring they are 100% recyclable.

This coating is applied to plastic packaging using specialized coating machines. According to the company, this technology could replace non-recyclable barrier solutions, fostering a fully circular economy in the packaging sector.

The patented technology is free of per- and polyfluoroalkyl substances (PFAS) and allows packaging manufacturers to substitute millions of tons of non-recyclable multilayer or fluorinated packaging. Moreover, the barrier technology offers adequate protection, enabling the inclusion of recycled materials in packaging for sensitive products like food or cosmetics.

Plans to Launch Products Next Year

IonKraft has developed industrial machinery to apply its coatings across various container types and has validated a broad spectrum of applications in collaboration with diverse industry partners. The company plans to leverage the EIC support to prepare for its market launch.

This financing round is a decisive step to support the market launch of our technology and to prepare for future scaling. We are thrilled to have a diverse group of investors who share our vision and will provide us with support on multiple levels

The first industrial coating system is set for customer deployment by the end of this year, with the introduction of the first products featuring IonKraft coatings anticipated in 2025. This initiative empowers manufacturers to produce fully recyclable products while minimizing their environmental impact and carbon footprint.