BioElements Group

About BioElements Group

BioElements Group, founded in 2014 by CEO Ignacio Parada and his partner Juan Eduardo Joannon, is a company focused on creating sustainable packaging alternatives to conventional plastics. Parada, a lawyer by training from the Pontificia Universidad Católica de Chile, was motivated to start the company after observing that plastic prohibition laws alone were insufficient to address plastic pollution. This led him to begin research in 2014, collaborating with academic institutions to develop materials that mimic the desirable properties of plastic without its long-term environmental impact.

The company manufactures biodegradable and compostable packaging from bio-based materials like starches and sugarcane. Its product portfolio includes flexible packaging, films, bags, and cutlery designed to biodegrade in a variety of environments—including home and industrial compost, sanitary landfills, and marine settings—within a timeframe of 3 to 20 months. BioElements has developed over 30 proprietary formulations to meet the specific needs of its clients and comply with local regulations. The company serves a diverse client base across the retail, e-commerce, food and beverage, and consumer packaged goods (CPG) sectors, with notable clients such as Walmart Mexico, Adidas, and Privalia.

BioElements generates revenue by providing these sustainable packaging solutions to businesses. The company's business model is centered on scientific research and development, evidenced by its collaborations with 17 academic institutions, including Michigan State University (MSU) and Clemson University in the US, to validate and certify its products. This commitment to research is further highlighted by the opening of its first laboratory in Santiago and plans for a BIOLab research facility in the US. A significant milestone for the company was securing a $30 million Series A funding round in January 2023, led by BTG Pactual, to fuel its expansion across Latin America and into the United States. This expansion includes establishing a U.S. headquarters in Houston, with teams in Chicago, New York, and Orlando to serve the American market. The Financial Times recognized Bioelements as one of The Americas' Fastest Growing Companies in 2024.