Pulpex

Pulpex's business model involves licensing its patented technology to manufacturers and forming partnerships with major consumer packaged goods (CPG) companies. A key element of its strategy is a partner consortium of leading global CPG firms in non-competing categories, including founding partners like Diageo, Unilever, and PepsiCo, as well as Castrol, Haleon, The Estée Lauder Companies, and Kraft Heinz. These partners plan to use Pulpex's technology to create branded paper bottles for their products. The company's revenue generation includes a Series D funding round in February 2025 that raised £62 million, with major investments from the National Wealth Fund and the Scottish National Investment Bank, bringing its total funding to over $135 million.

The company manufactures unique, single-mould, fiber-based bottles that are free from PET and HDPE plastics. The process involves pressurizing sustainably sourced wood pulp into a mould, curing the container in a microwave oven, and then spraying the interior with a proprietary food-grade coating that is compatible with the product it will hold. This technology creates a bottle with a significantly lower carbon footprint—estimated to be 90% less than glass and 30% less than PET. The bottles are designed to be recycled in standard paper and cardboard waste streams and will biodegrade in the natural environment if not properly disposed of. Initially designed for still liquids, the company is working on versions suitable for carbonated beverages. To scale up production, Pulpex is building its first commercial-scale manufacturing facility near Glasgow, which is expected to be operational in the first quarter of 2026 and have the capacity to produce 50 million bottles annually.