BRUSSELS (dpa-AFX) - Packaging company Amcor Plc (AMCR, AMC.AX) late Monday announced a partnership with UK startup Kelpi to explore next-generation coating technologies, under which it will test a seaweed-based coating technology platform for fiber-based packaging.
Amcor will assess the coating in its AmFiber product line for moisture and gas barrier performance and compatibility with paper recycling streams. The company said it is seeking materials that reduce use of fossil fuel-based inputs while meeting packaging standards.
Kelpi's coating is made from seaweed biomass. Amcor said evaluations show the material can run on existing equipment and meet barrier requirements.
'This collaboration reflects how we are advancing our material innovation pipeline, and it supports the Ellen MacArthur Foundation's call for accelerated innovation in paper-based flexible packaging,' said Peter Ettridge, Director, Research and Development, AmFiber, Amcor.
Amcor shares rose 0.21 percent to $43.03 in overnight trading on the NYSE, after ending Monday's regular session 0.21 percent lower.
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