plastic floating around in our oceans

Evanesce Paves the Way to Eliminate Single-Use Plastics

March 22, 2022

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The single-use plastics market has been a major contributor to the pollution of oceans around the world. It has been estimated that eight million tonnes of plastic are dumped into the oceans every year. According to the World Economic Forum, if nothing is done to curb the plastic waste that is overwhelming our oceans, there could be more plastic than fish in our oceans by 2050[i]. Billy Goat Brands (“GOAT”) is committed to the ocean economy and providing environmentally and socially valued solutions accompanied by sustainable initiatives achieved through its ESG-focused investments such as Evanesce Inc. (“Evanesce” or the “Portfolio Company”).
8 million tonnes of plastic are dumped into the oceans every year

Evanesce has been able to carve out a niche in the sustainable packaging market, through an innovative technology that is focused on developing standard eco-friendly packaging alternatives. Using a patented moulded starch technology comprised of plant-based by-products that are 100% compostable and decompose within 90 days, GOAT’s Portfolio Company is determined to drastically reduce single-use plastic production that is responsible for a significant amount of ocean pollution. Evanesce has also expanded its product portfolio to include compostable straws.

Single-use Plastic
PLA cold cups lids and straws lifestyle
Compostable PLA straws
With the large amount of plastic floating around in our oceans, straws are estimated to make up 0.025% of the eight million tonnes[ii]. This is an opportunity for Evanesce to provide a solution that will help curb the single-use plastic problem in both the food and beverage and hospitality sectors. GOAT’s Portfolio Company has recently been able to increase its production capacity via two production facilities in the United States, located in South Carolina and Nevada. These new facilities will support the addition of four straw production lines, leading to an expected 20 million straws being scheduled for shipment for the first half of this year.[iii]

The cost of paper straws continues to be to be a concern, as it is known to be slightly higher than for plastic straws. Through upcycling starches and plant-based by-products, Evanesce will be able to manufacture 100% compostable, moulded, eco-friendly food packaging at half the cost of other eco-friendly packaging companies. This cost-effective solution is a promising start to saving our oceans from being suffocated by plastic.

Canada is committed to moving forward with a plan to tackle long-term plastic pollution that includes a ban on single-use plastic products in the near term. Canada also continues to support retailers and restaurants with information on alternatives to single-use plastics. The goal for Canada is to embrace the circular economy, steer clear from a linear economy through eliminating single-use plastics, and introduce methods to reuse, recycle and remanufacture. It’s been noted that, in Canada, 57 million plastic straws are used daily, which make up a large portion of the global footprint of single-use plastic straws. These straws end up as waste in freshwater environments, which are home to fish in many smaller coastal communities[iii]. Evanesce’s strategy of eliminating single-use plastic packaging aims to align its strategic vision with what is happening in Canada, while also tackling a larger global issue.

Ban on Single-Use Plastic Products in Canada

GOAT is committed to Evanesce’s vision of becoming the leader in the eco-friendly packaging market as it continues to develop innovative solutions to curb the growing consumption of plastics. GOAT’s minority investment in the Portfolio Company is structured to provide strategic assistance, networking connections and other types of support needed by companies focused on the growth of the ocean economy.

FAQs

What is the most eco-friendly packaging?

With the variety of eco-friendly packaging options on the market, cardboard and other recycled forms of paper products have been known as the most environmentally and sustainable packaging.

What are examples of eco-friendly packaging?

There are a variety of eco-friendly packaging food containers on the market, however, the most common are:

  1. Glass
  2. Stainless steel
  3. Bamboo
  4. Rice husk
  5. Gelatin films

Rice husk and gelatine films are part of the plant-based sustainable packaging solutions seen in the market and are known to be compostable. Evanesce prides itself on compostable plant-based by-products to manufacture all its eco-friendly food containers.

What are green packaging materials?

Green packaging is also known as sustainable packaging, which uses materials that are compostable, reducing energy consumption and reducing the harmful impact that plastics and other forms of packaging have on our oceans. Evanesce’s mould starch technology is focused on plant-based by-products to produce 100% compostable and eco-friendly food containers that decompose within 90 days, thereby creating a safe and effective solution to our single-use plastic problem.

Is paper eco-friendly?

Paper can be eco-friendly in that is it fully biodegradable, however, the process involved in producing paper requires a large amount of energy. Deforestation has been a main concern in the production of paper products. Over 32 million acres of forest get chopped down every year, to produce paper materials[iv].

That is why companies like Evanesce are using plant-based by-products to produce eco-friendly packaging solutions that require less energy, thus less proving less of a strain on our natural environment.

Is glass eco-friendly?

Glass can be eco-friendly; glass is sustainable and fully recyclable, thereby making it one of the best recyclable products in the circular economy.

Source

[i] [ii] – Gibbens, S. (2021, May 03). Plastic straw bans are spreading: Here’s how they took over the world. Retrieved February 24, 2022, from https://www.nationalgeographic.com/environment/article/news-plastic-drinking-straw-history-ban
[iii] – Canada, E. (2021, December 30). Government of Canada moving forward with banning harmful single-use plastics. Retrieved February 24, 2022, from https://www.canada.ca/en/environment-climate-change/news/2021/12/government-of-canada-moving-forward-with-banning-harmful-single-use-plastics0.html
[iv] – Is paper biodegradable? The shocking truth you should know. (2020, September 01). Retrieved February 24, 2022, from https://ecofreek.com/biodegradable/is-paper-biodegradable/

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