Equipment/Technology, New Zealand, Australia, Sustainability

Australia’s ‘Great Wrap’ founders raise $24 million to take on plastic waste

Figuring out how to turn potato waste into compostable cling wrap has helped Julia and Jordy Kay, founders and owners of the Great Wrap company, land $24 million in series A funding to take on the plastic industry.

As Tess Bennett reports for the Financial Review, the couple from Victoria founded the Great Wrap company in 2019, working with Monash University to create a product that performs, looks and feels like a conventional petro-based plastic stretch wrap but breaks down to carbon and water.

Mrs Kay, an architect, and Mr Kay, who makes natural wines, decided to tackle the plastic waste problem after noticing how much pallet wrap was generated in construction and winemaking.

The series A funding will be used to help the company vertically integrate its operations, enabling Great Wrap to process local waste from one of Australia’s largest potato processors on site.

Source: Financial Review. Read the full story here
Photo: Jordy Kay and Julia Kay are growing their compostable stretch wrap business. Credit and courtesy Financial review
Related: The ‘Great Wrap’: Aussie couple goes to market with world first compostable potato-based cling wrap, pallet wrap

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