The ICF Expansion Capital II fund has invested €1 million in Classpack, a pioneer in manufacturing and marketing 100% bio-based packaging solutions and eco-efficient equipment, custom-designed to automate the bagging process and rationalise the application of single-use packaging in the primary sector.
The injection comes via a capital increase and will enable the firm to expand the capacity of its production facility in Cabrera de Mar (Maresme) and drive its business forward.
The Catalan firm was established in 2019. Its core strategy is to deliver 100% bio-based packaging, guaranteeing its raw materials’ sustainable origin and 100% organic composition together with eliminating fixings such as glue or staples, to make the finished bio-based product using its patented proprietary technology.
The company currently offers two main types of packaging to domestic and international distributors in the primary and food industries. The first is a wide range of ready-to-pack products devised in line with the customer’s needs, while the second is 100% bio-based material reels in various sizes for customers who have Classpack’s packaging equipment. This equipment is patented technology designed in-house by the company that allows the end customer to automate and customise packaging with very significant electricity usage and noise reduction efficiency.
Classpack’s owner and director Juan Carlos de Clascá says that “mindful of the problems in the plastic packaging industry and all the other associated components which are harmful to the environment, we developed this plastic-free solution to help build a more sustainable society with no loss of product traceability while ensuring food safety and compliance with labelling regulations.”
“We are now delivering a pioneering solution for primary sector distributors,” he adds. “That’s because in June this year, the European regulation comes into force stipulating the need to get rid of single-use packaging together with packaging production materials containing fossil-based components (petroleum-based polymers) which are harmful to the environment, and this will carry very significant penalties.”
Adrià Torrelles, Director at ICF Expansion Capital, stresses that “this is a product with no environmental footprint, one of the things consumers are really looking for and which the ICF is fully aligned with as part of our commitment to the UN’s Sustainable Development Goals (SDGs) and the 2030 Agenda.”
The Classpack product has a direct impact on waste management costs since it is 100% bio-based and can be composted in a home composter or disposed of in the organic bin managed by local councils, whose cost is included in the municipal waste collection charge.
About ICF Expansion Capital II
ICF Expansion Capital II is a venture capital fund managed by ICF Capital with an investment volume coming to €50 million and an investment focus on Catalan companies which are engaged in strategic organic (internationalisation, increased production) or inorganic (company acquisition) growth projects. It largely invests through capital increases in amounts up to €5 million. Adrià Torrelles is its Investment Director.
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