NEW YORK, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Big Idea Ventures ("BIV"), the global leader in early-stage alternative protein and food technology investing, has launched its second portfolio company through its Generation Food Rural Partners Fund.
BioBond Adhesives (“BioBond” or the “Company”) is a material science company utilizing cutting-edge technology to replace petroleum-based adhesive materials in the food and agriculture industries’ supply chains.
ESG-compliant companies and governments are leading industries away from petroleum-based products and toward truly renewable or biodegradable products. A future with fully compostable paper and packaging products requires equally sustainable adhesives. BioBond Adhesives, Inc. uses pressure-sensitive and epoxy-strength biodegradable solutions — made from natural materials that are both inexpensive and plentiful, such as agricultural waste. The Company will partner with various universities to license intellectual property and commercialize those patents into new, bio-based adhesives.
“This new investment affirms our commitment to delivering breakthrough technologies that will disrupt the status quo while creating living wage jobs in rural communities,” said Tom Mastrobuoni, Chief Investment Officer of Big Idea Ventures. “We continue to engage with the leading research universities in the US and other countries, platforming university-developed intellectual property and commercializing it in the US.”
The board of directors of BioBond has appointed Marc McConnaughey as Chief Executive Officer. Marc is a seasoned startup leader with a broad range of experience in scaling and commercializing technologies to global markets.
“The BioBond platform has the potential to accelerate the adoption of bio-based adhesives by providing a bridge between academia and industry,” said Marc McConnaughey, Chief Executive Officer of BioBond. “By working with universities to commercialize their intellectual property, BioBond can help to bring new and innovative bio-based adhesives to market more quickly which will benefit both the environment, businesses of all sizes, and bring living-wage jobs to rural communities, broadening our innovation economy.”
The GFRP Fund evaluates intellectual property focused on innovations in the agriculture, food, and protein sectors. The GFRP Fund invests to create new companies formed around research with the greatest chance for broad commercialization. These new companies will be headquartered in rural communities, creating living wage jobs to drive economic growth and development.
About BioBond Adhesives
BioBond Adhesives (“BioBond'' or the “Company”) is a material science business specializing in the development of bio-based adhesive products for the food and medical industries, eliminating petroleum-based ingredients. The Company is the second investment by the Generation Food Rural Partners fund, a RBIC-licensed investment fund designed to drive economic growth and development in rural communities in the US. The Company will license intellectual property from universities and commercialize the technology to address challenges to the agriculture and food industries. For more information, visit www.biobondadhesives.com
About Generation Food Rural Partners
Generation Food Rural Partners (“GFRP” or the “Fund”) is a RBIC-licensed investment fund designed to drive economic growth and development in rural communities in the US. The Fund invests in the area of Food, Agriculture and Protein technologies to form new companies based on intellectual property, creating living wage jobs at its portfolio companies. GFRP is backed by members of the Farm Credit System, including Farm Credit Services of America, CoBank, Compeer Financial and Mid-America Farm Credit. GFRP is a part of Big Idea Ventures (“BIV”), the world’s most active investor in FoodTech, investing in the best food technology and AgriTech companies globally. BIV has offices in New York, Paris and Singapore and has invested in more than 100 companies across 30 countries and manages the New Protein family of funds and GFRP. For more information, visit https://bigideaventures.com/generation-food-rural-partners/.
Media Contact
BioBond Adhesives | Marc McConnaughey | marc@biobondadhesives.com
Big Idea Ventures | Olivia Chavassieu | olivia.chavassieu@bigideaventures.com | +33 7 49 63 40 80
