Amazon invests in Canadian bio-plastics research

Amazon’s Climate Pledge Fund is investing in Genecis, an Ontario-based bioplastics company founded by scientist Luna Yu. Genecis uses organic waste, like table food scraps, to create a biodegradable bioplastic that is an alternative to conventional plastic packaging.

Waste&Recycling

The Climate Pledge Fund, which invests in climate tech companies developing innovations that help address global warming, recently announced its Female Founder Initiative to invest US$50 million in female-founded and led climate tech companies. The program also invests in incubators and accelerators that support female entrepreneurs, and it’s designed to help address the gender-equity funding gap that currently exists for women in climate tech.
 
Yu, who founded Genecis at the age of 21, is the first female CEO to receive investment support through the Female Founder Initiative. Genecis is also the fund’s first investment in a company directly addressing the use of fossil fuel–derived plastics and the global warming factors they contribute to.

Yu came up with the idea for Genecis while studying to be an environmental scientist, and she says that her decision to work in climate tech has been encouraged by the leadership of other women in the field.
 
Read more here.

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