SANTA CRUZ, Calif., April 20, 2022 /PRNewswire/ — CRUZ FOAM, Inc., a circular materials company, today announced several significant developments in the company’s transition to commercialization, including the opening of a major production facility and the addition of two new investors, Leonardo DiCaprio, Ashton Kutcher and Guy Oseary’s SOUNDWaves. DiCaprio and Kutcher also join as advisors.
On a mission to replace traditional petroleum-based protective packaging with a certified compostable alternative, Cruz Foam is scaling production to meet the demands of corporate partners. The larger facility will be used for scaled production of Cruz Foam, while the R&D lab will continue to innovate and create novel applications.
“We are excited to enter a new phase of growth with our new facility enabling the scaled production of Cruz Foam products which is currently being utilized in a series of pilot programs,” said John Felts, CEO, and Co-Founder, Cruz Foam. “We are also honored to have the support of our new investors and advisors, with whom we will accelerate global awareness and adoption of regenerative solutions to improve the sustainability of life on our planet.”
“Cruz Foam is taking a major step in reducing the environmental impact of the supply chain industry,” said Leonardo DiCaprio. “The mission to eliminate single use plastics in the ongoing battle for a cleaner and more sustainable environment makes me excited to join as an investor and advisor and I look forward to what we’ll achieve together.”
“We see huge potential in the adoption of Cruz Foam’s consumer packaging as the industry moves away from petroleum-based products and towards new biomaterial technologies,” said Ashton Kutcher, SOUNDWaves.
This news follows the company closing its last seed round in the fall of 2021 led by At One Ventures, Sony Innovation Fund, Regeneration.VC, and a group of environmentally-focused private investors with backgrounds across industries.
Cruz Foam is a unique, earth-friendly foam material used in protective packaging that matches the technical strength, flexibility, and protective qualities of petroleum-based foams (commonly known as “Styrofoam”) and at a similar price. Cruz Foam’s patented formula harnesses the power of naturally sourced biopolymers and will compost in at-home composting conditions with a variable timeline based on temperature, compost pile content, and a variety of other factors. Cruz Foam is ASTM D6400 and ASTM D6868 certified compostable and is USDA Bio-based Preferred. Our circular materials biodegrade to produce high-quality organic waste, which can be used as nutrient-rich compost and biogas used for electricity.
For more information, please visit http://www.cruzfoam.com.
About Cruz Foam
Cruz Foam is a circular materials company that produces ASTM certified compostable, protective packaging foam, and other eco-friendly solutions that offer a sustainable alternative to petroleum-based products. Cruz Foam’s patented products are circular in nature using biopolymers found in nature to create a compostable material using the existing supply chain and at a similar cost. Cruz Foam is currently working with consumer-packaged goods, electronics, appliance, and durable goods companies. Cruz Foam is a mission-driven company creating impact at scale by empowering industry leaders to be the catalyst for a cleaner environment. Cruz Foam is headquartered in Santa Cruz, California.
SOUNDWaves is a climate-focused investment vehicle that partners with leading brands and corporations to pilot and invest in early-stage solutions greening supply chains. SOUNDWaves is dedicated to supporting the next generation of clean, circular, and sustainable businesses and works closely with founders to scale for enterprise contracts. SOUNDWaves is an extension of SOUND Ventures and is headquartered in Los Angeles, California.
SOURCE Cruz Foam