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NeuWorld Plastics
- 1. Nicole Cruz | Freesia Lee | Julie Noblitt | Nicole Palkovsky | Lisa Voss PRESIDIO GRADUATE SCHOOL CAPSTONE | MAY 2016
- 2. By 2050, the oceans will contain more plastic than fish
- 3. 26% of ocean plastic is food packaging
- 4. Our Solution – Nicole C Person holding ketchup packet, Gu, honey Heinz ketchup alone accounts for 12 billion packets each year
- 6. Temporary-use plastics should have a temporary life
- 7. The oxygen barrier is difficult to make compostable Heat resistance & printability Oxygen barrier (moisture, light, gas and aroma) Seal Strength COMPOSTABLE FILM
- 8. Plastic Film Producers Package Mfgr Food Producers Food Distributors Consumers Waste Mgmt SUPPLY CHAIN
- 9. DEMAND for COMPOSTABLE PACKAGING SUPPLY CHAIN Plastic Film Producers Package Mfgr Food Producers Food Distributors Consumers Waste Mgmt COMPOSTABLE PLASTIC FILM
- 10. Perkin Medal winner 200+ Patents One-of-a-kind laboratory “Father of Green Chemistry” Commitment to sustainability helping companies find sustainable solutions to chemical challenges “ “ JOHN WARNER, Ph.D. President and Chief Technical Officer TECHNICAL PARTNER
- 11. We chose them: Innovation + Business World-class lab Speed They chose us: Problem worth solving Commercializable
- 12. Revenue stream: license film IP Licensing fees are % of customer revenue 5-year contract terms BUSINESS MODEL
- 13. Target customers: mid-sized producers $200M - $500M annual revenue Total addressable market: $6.5B N. American plastic film market: $32B MARKET
- 14. YR 4 YR 5YR 1-3 3 New Customers 1 Exclusive License R&DFOCUS $0 $3M $12MREVENUE 0% 16%(105%)PROFIT REVENUE
- 15. Technology Speed Partnerships World’s leading green chemistry lab Rapid material and prototype creation Extensive supply chain network ADVANTAGE
- 16. 1st round funding Validate the technology First customer success Scale to multiple customers Scale to new applications Policy and Market Development ROADMAP
- 17. Julie Noblitt CEO Nicole Palkovsky CMO Freesia Lee Corporate Partnerships Nicole Cruz COO John Warner President & CTO Warner Babcock Lisa Voss CFO TEAM
- 19. $90,000 to start work $2M over three years
Editor's Notes
- 26% of that is from plastic food packaging.
- There is already compostable packaging for almost everything – from to-go containers to coffee, cereal to chips. But no one has solved for single-serve packets for liquid foods. Heinz alone produces 12 billion of these each year.
- What if we could enjoy the convenience of foods we love without worrying about where the packaging ends up? Imagine instead a package that could be composted right along with its contents.
- At NueWorld Plastics we believe temporary-use plastics should have a temporary life. (Moved from slide 3 so that you end on this punchy line.)
- No one has created compostable packaging for single-serve packets for high-moisture foods because plastic film is more complicated than it seems. It looks like it's 1 layer but it's actually 3. 2 of those layers are easy to make compostable but 1 is not - the oxygen barrier. The reason that this is so difficult is because current oxygen barriers are designed for a multi-year shelf life and do not break down when exposed to light and air. This is where we come in. At NeuWorld Plastics, we are creating a line of fully compostable films for high-moisture foods. With our innovative material, companies can make entire packets that you can throw right in the compost.
- We know that success means more than just creating the technology. Our compostable material needs to be implemented and utilized in the existing plastic film supply chain. We have been actively cultivating relationships with partners involved in each part of the supply chain to understand their goals, concerns, and processes. We are implementing their feedback into our design as well as identifying partners who want to incorporate our prototype into their production. While they may have differing perspectives, the unifying consensus is that consumers are driving demand and seeking a compostable solution but are unable to find it.
- We will be selling our product to plastic film producers, at the head of the supply chain, ensuring that compostable film gets integrated at the source of plastic packaging. At the same time, we will continue to engage the entire supply chain through to the end consumer to ensure our solution works throughout the whole system.
- In looking for a technical partner, we looked for an innovative material science lab that is not constrained by the demands of being immersed in this market. Our choice of technical partner was therefore John Warner, known as the Father of Green Chemistry and co-founder of the Warner Babcock Institute. The Warner Babcock Institute specializes in working on problems like ours for corporations on a white-label basis.
- We chose them because: They look at the innovation and the business proposition at the same time. For example when Adidas wanted a green chemistry lab to develop a prototype running shoe made entirely of ocean plastic, they turned to WBI. WB created the shoe in only 6 days. They can move that fast because they do everything in house in a world-class facility With their special commitment to nontoxic plastics, and are working on seeds of our project already – if anyone can do this, they can. They chose us, too: They get more than 100 RFPs per year, but take on fewer than 20% of them. They only take projects when: it's a problem worth solving it's commercializable they have at least 3 approaches to solving it
- - Warner Babcock’s white label approach provides us with our business model. We will be able to take the compostable film technology and license it to plastic film manufacturers - We will charge the manufacturers a % of their plastic film revenues as the licensing fee - And we will ask for multi-year license agreements to provide us more consistent revenues
- - Our target customers will be mid-sized plastic film manufacturers with about $200-$500M annual film revenues. These mid-sized players are a sweet spot because they tend to be the ones working with specialty package makers who are most eager for a compostable alternative There are about 20 of these mid-sized producers in the U.S., giving us a total addressable market of $6.5 B - ... within an overall north American plastic film market of over $32B – the opportunity is huge
- - Over the next 3 years our primary focus will be developing the prototype and proving the technology We will work with a commercial development partner to develop the prototype, and in year 4 we will offer that partner a 1-year exclusive license to the technology - In year 5 we will open up to other customers, and by that stage we expect $12M of revenue and 16% profit
- The film creation industry is highly consolidating. There are a dozen commercial labs either actively working to create a compostable film or interested in creating one. To date, no one has solved this problem and we believe that NeuWorld Plastics will succeed where others are still struggling. In addition to a world class technical partner with the Warner Babcock Institute, our singular focus on compostable film and WBI’s iterative process allow for rapid prototype creation and testing. What really sets us apart is our network of partnerships along the supply chain. Where are competitors are working in silos, we will engage stakeholders throughout the supply chain to ensure that we are creating a product that will work at every step of the food packaging process.
- Over the next 3 years we’ll be validating and perfecting the technology for compostable film for high-moisture foods. Once we have debuted the technology with our first exclusive partner and then scaled to other customers, we plan to scale compostable film to the cosmetics, house hold goods, and healthcare industries. Simultaneously, we will work to support and create policy that is favorable to elimination of disposable plastics, which will help create further market demand.
- Here is the team that will make it all happen. In addition to an outstanding technical partner, our team has combined decades of experiences in technology and healthcare innovation and sustainability. and leading large scale change management initiatives. Our commitment to the problem is what has brought us this far, our experience and abilities will make this solution a reality.
- The jurors for the 2016 TBP Innovation Competition have recognized the strength of our idea and our team - we are finalists in that competition.
- This is a significant opportunity to solve an unmet need. We’re looking for a $90K grant to get started and ~$2million over 36 months to develop and pressure test the prototype. Without the prototype nothing else can happen, and literally every minute we wait is another garbage truck's worth of plastic in the ocean. Join us!