Reusables.com, a zero-waste packaging platform, has secured a $100,000 seed investment from Sustainable Development Technology Canada (SDTC), an independent federal foundation that funds Canadian companies developing new climate technologies. The investment from SDTC aims to enable Reusables to scale its IoT-enabled technology platform and help more food businesses transition towards a circular economy for packaging, according to a release from the company.
According to data from the United Nations, governments around the world are demanding food businesses shift away from single-use plastics towards a more circular economy for packaging. In the U.S., the Wall Street Journal reports that only 5 per cent of plastic actually gets recycled, and alternatives like biodegradable or compostable plastics are also reportedly under scrutiny. Large food businesses like Starbucks, Loblaw and Walmart have made ambitious sustainability commitments and Reusables has created a turn-key solution to help them achieve these goals.
"SDTC invests in clean technology trailblazers with the potential to transform the environmental and economic prosperity of Canada," said Jason Hawkins, the CEO and co-founder of Reusables. "We are honoured to receive their backing and look forward to a long-term partnership focused on impact."
Reusables was also recently accepted into the Canadian Technology Accelerator (CTA) for climate-tech companies looking to expand into the U.S. and raise capital.