Newswire: element6 Dynamics and PAPACKS® have announced the signing of a Memorandum of Understanding to Joint Venture on the US expansion of PAPACKS’ molded and thermal formed packaging in partnership with element6 Dynamics, a US modern pioneer in industrial hemp. This partnership marks the largest industrial hemp deal in US history and is a significant milestone in ongoing efforts to decarbonize industries.
The MOU between element6 Dynamics and PAPACKS® outlines plans for a joint venture that will focus on providing regenerative alternative fiber packaging solutions for consumer-packaged goods, pharmaceutical, technology, and general companies looking to decarbonize and reduce their reliance on plastic and deforestation in their supply chains.
Kimberly Kovacs, CEO of element6 Dynamics, stated, “Our goal is to provide new materials that are regenerative, not extractive, and introduce processes that decarbonize and have little to no waste at prices that are competitive with incumbent solutions.” Kovacs, a past Forbes 50 over 50 Women in Finance honoree, emphasized the importance of sustainable solutions in today’s business landscape.
element6 Dynamics is a leader in industrial hemp, with expertise in genetic breeding, cultivation, and conversion of industrial hemp biomass. Their e6 Pulp has been proven as a drop-in market ready pulp solution, making use of existing papermill and packaging infrastructure.
PAPACKS®, based in Germany, is a pioneer in sustainable fiber-based packaging in Europe. Their commitment to innovation is evident in their over 75 patent families, 30 awards, and more than a decade of pioneering work. The company prioritizes the use of renewable raw materials, including virgin fiber and industrial hemp, in their production processes.
The joint venture plans to construct 10 fully integrated molded and thermal formed manufacturing facilities throughout the US, with a bio-regional approach that locates each facility near their cultivation footprint and academic partnerships. This approach ensures a cost-effective and environmentally friendly solution to reshoring business in a sustainable and responsible way.
Tahsin Dag, CEO of PAPACKS®, expressed confidence in the partnership, stating, “We believe that element6 Dynamics will be a strong financial and strategic partner for us in the United States.” Dag, who was elected “CEO of the Year 2024 in the packaging industry” by European CEO Awards, praised the team at element6 Dynamics for their ability to deliver the scale needed to meet international customer demand.
For more information, please visit www.element6dynamics.com or www.papacks.com.
Press Contact/Inquiries:
Manuel Leibrock, CMO/PAPACKS®
presse@papacks.com
Distributed by Pressat.co.uk
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.