EARTHFORM announced on the 13th that it has completed seed investment with participation from MYSC, Wow Partners, and Big Bang Angels. This investment will be used to accelerate material research and development (R&D) activities and expand production capabilities, with the goal of expanding into domestic and overseas markets.
Earth Foam Co., Ltd. is a specialized company in biodegradable mycelium-based materials that replace petrochemical-based Styrofoam (EPS), and is developing products that are beneficial to people and the planet while practicing the 'Sustainable Circle'. The company manufactures 'Earth Foam', an eco-friendly packaging material using mushroom mycelium and agricultural and fishery byproducts, and is expanding its market to various product groups starting with packaging for perfumes and ceramic products.
Earthform Co., Ltd. has proven its excellent business performance and growth potential by winning the grand prize (Prime Minister's Award) at the 2023 Social Venture Competition. In addition, in the same year, it began full-scale product production in cooperation with local farmers, established a model of coexistence with the local community, and is practicing sustainable management. In the long term, it is pursuing innovation that redefines the industry while preserving the balance of the Earth through the goals of 'Purely natural, fully sustainable' and 'No chemicals, only nature'.
An official from MYSC explained the background of the investment, saying, “We expect that by replacing plastic packaging with an eco-friendly alternative, we will contribute to reducing plastic consumption and emissions, and we hope that Earthfoam will grow into a bio-based materials company in the long term.”
“Earthform is providing innovative and sustainable solutions by leveraging the potential of mycelium and natural resources, and we are very pleased that this investment will allow us to take our vision to the next level,” said Jeong Seong-il, CEO of Earthform.
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