Life Science Company News

Cove & RWDC Industries Sign Exclusive Agreement for Over 350 Million Pounds of PHA

LOS ANGELES, May 12, 2021 /PRNewswire/ -- Cove, the California-based material innovation company that plans to introduce the first water bottle made entirely of biodegradable material later this year, today announced it has entered into an exclusive partnership deal with RWDC Industries. RWDC will supply its proprietary PHA – a sustainably sourced, naturally occurring biopolymer – to produce Cove's water bottles. 

Cove's mission is to end the world's reliance on plastic. The company's investors include Valor Equity, Marc Benioff, James Murdoch, Tony Robbins and Peter Rahal.

RWDC Industries, based in Athens, Georgia and Singapore uses food waste and post-consumer or used cooking oils to produce PHA, which it has branded Solon. Founded by Daniel Carraway and Roland Wee, the biotech company combines deep expertise in PHA properties and applications with the engineering know-how to reach cost-effective industrial scale. 

"We are incredibly excited to partner with Daniel and his team, who have been at the center of PHA innovation over the past two decades," said Alex Totterman, Cove's CEO and founder.

Under the partnership agreement, Cove will obtain 350 million pounds of PHA, supplied by RWDC, over the course of five years. This will enable Cove to scale to hundreds of millions of bottles in just a few short years.

After an extensive, three-year research and development effort, during which Cove worked with a number of PHA producers, the company determined that RWDC has the most advanced technology and is the best-suited partner for aggressive growth. Cove already has large retail deals in place for its first product launch, the water bottle, later this year.

"We are thrilled to be working with the Cove team to make PHA-based water bottles a reality. In a world where over one million plastic bottles are purchased per minute, our collaboration is an important step toward providing materials that enable healthier options for people and the environment," said Dr. Daniel Carraway, co-founder and CEO of RWDC.

The partnership between Cove and RWDC is supported by an exclusive agreement for the use of Solon™ for beverage bottles and closure products. In the future, Cove plans to produce products in other categories in its mission to accelerate the adoption of sustainable materials like PHA.

Company Description

Cove is a material innovation company developing sustainable consumer products to end our reliance on plastic, starting with the world's first water bottle made of biodegradable material. Cove's plastic-free, renewable bottles are made of PHA, a natural, non-toxic material that is broken down by microorganisms in nature. Based in Los Angeles, Cove is backed by a group of notable investors including Valor Equity, Marc Benioff, James Murdoch, Tony Robbins and Peter Rahal. Cove was named the Plastic-Free Innovation of The Year and will be launching its water product later this year. www.drinkcove.com

RWDC Industries Limited

Based in the U.S. and Singapore, and founded in 2015 by Mr. Roland Wee and Dr. Daniel Carraway, RWDC Industries is a biotechnology company on a mission to replace single-use plastics through innovative and cost-effective biopolymer material solutions. RWDC is the developer of Solon™, a proprietary polyhydroxyalkanoate (PHA) that is sustainably sourced, naturally occurring, and commercially viable. The biopolymer can be substituted for plastic in a wide range of everyday, single-use consumer goods. Solon™ is biovanescent – a term pioneered by RWDC to describe materials that completely break down to water and carbon, leaving no trace. RWDC supports sustainable practices and encourages responsible choice in plastic waste management, including recycling, to protect our environment and planet. www.rwdc-industries.com.

Cision View original content:http://www.prnewswire.com/news-releases/cove--rwdc-industries-sign-exclusive-agreement-for-over-350-million-pounds-of-pha-301289579.html

SOURCE Cove

By: PR Newswire Association LLC. - 12 May 2021
Back to overview

Enhance your business development with Biotechgate