Mushroom Material Company Ecovative Receives Multi-Million Investment and Completes Agreement to Accelerate Commercialization of New Sustainable Packaging Material

Ecovative Design - Green Island, NY

June 20, 2012

Ecovative Design, LLC, the world leader in mycelium-based materials science, announced that a group including 3M (through its 3M New Ventures business), Rensselaer Polytechnic Institute, and DOEN Foundation has invested in the company. The company was also awarded $500,000 from the National Science Foundation. The funding will be used to scale Ecovative’s manufacturing operations and accelerate the development of its revolutionary, grown polymeric materials.

The company also completed an agreement with Sealed Air Corporation to accelerate the production, sales and distribution of Ecovative’s EcoCradle® Mushroom® Packaging, a new technology for environmentally responsible packaging materials made from agricultural byproducts and mycelium, or “mushroom roots”. As part of the agreement, Sealed Air will be the exclusive licensee of Ecovative’s mycelium based material technology in North America for protective packaging applications.

The company has been awarded approximately $1 million in product development funding from NYSERDA.

Information on NYSERDA's Research and Development Projects with this company: Ecovative Design, LLC

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70 Cohoes Avenue
Green Island, NY 12183

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