NaturLoop wins CHF 150,000 for composites made from coconut
NaturLoop won 150,000 francs at Venture Kick. This supports the production of the sustainable composite material Cocoboard. The natural fiber board is made from coconut shells instead of wood.
The start-up company NaturLoop from Biel BE won 150,000 francs from Venture Kick for its project to manufacture sustainable biocomposites, or composite materials, from coconut shells. According to a press release, NaturLoop wants to use the money to strengthen its marketing activities and to set up a new pilot project in the Philippines by the end of 2022. A factory for the production of cocoboard is to be built there. The natural fiber board is made from coconut shells. By using coconut shells instead of wood, the Biel-based start-up aims to limit deforestation, increase the local availability of furniture and building materials, improve farmers' livelihoods and promote a circular economy.
NaturLoop wants to replace wood-based composite materials with Cocoboard. According to the communication, these release formaldehyde and other harmful gases, which leads to indoor air pollution. In addition, their production leads to excessive waste generation and energy consumption. The start-up now wants to use part of the around 21 million tons of coconut shells that are produced around the world every year and are either burned or thrown in the trash. NaturLoops Cocoboard is a natural fiber board made from coconut shells and pressed into boards with natural tannin glue. It can be used to make furniture, cupboards, floors or ceiling tiles.
"What distinguishes Venture Kick from other startup programs are the people behind it: The feedback I got during the Kickers Camp was honest and unbiased," Daniel Dinizo, co-founder and CEO of NaturLoop, is quoted as saying.
NaturLoop is a spin-off from the Bern University of Applied Sciences (BFH) and was co-founded by Daniel Dinizo (CEO) and Michail Kyriazopoulos (CTO). The team is currently working on exclusive supply contracts, pre-sales orders, the completion of the production concept and the opening of the seed financing round. According to the announcement, NaturLoop estimates the market for imported wood-based materials at $ 1 billion.