Hollywood A-lister Leonardo DiCaprio is helping the planet one sensible move at a time. No, he hasn’t sworn off superyachts but has invested in a leading biochemical company called Nature Coatings. The firm successfully completed a funding round led by Regeneration.VC and The 22 Fund, raising $2.45 million with contributions by Safer Made and Portfolia. The biochemical company gained attention owing to its flagship product, BioBlack TX, which becomes a carbon-negative alternative to petroleum-based carbon black. Natural dye specialist Jane Palmer founded the pigment startup and counts Kering and Levi’s as customers.
Hazardous synthetic dyes heavily pollute the water systems outside of garment production facilities worldwide, especially with the use of Carbon black. It is a widely used dye for black coloring in textile products, which a carbon-negative alternative can now replace. The Revenant actor shared the news with fans on Twitter, ‘I’m excited to join Nature Coatings as an investor, a company that offers a bio-based, long-term solution that can be translated across industries, contributing to the mission for a cleaner, more sustainable environment. #NatureCoatingsPartner.’
Dan Fishman, General Partner at Regeneration.VC expressed his enthusiasm, stating, “As a Consumer ClimateTech fund focusing on the reimagination of consumer industries, we have been searching high and low for a drop-in replacement to petroleum-based carbon black that is 100% bio-based and at price parity. Jane and the Nature Coatings team are reshaping the chemical industry, and we are excited to support their journey.”
Tracy Gray from The 22 Fund adds, “We invest in cleantech manufacturing companies and intentionally include female-led firms to deliver both high return on investment and create clean, quality jobs in low & moderate-income communities. We are excited to utilize our network and expertise to support Jane Palmer and be a part of the next growth phase of Nature Coatings.”
With the massive amount secured, Nature Coatings will be empowered to sell to more brands, develop the production facility in Georgia and expand its headcount. While Leo is certainly doing his bit of good, there is no ignoring that his sea-faring ways cancel the deeds by leaving a significant environmental impact every six months when he hops onto a chartered mega yacht.
What does nature coating do?
Nature Coatings turns waste materials into safe and renewable solutions so the chemical industry operates in sync with nature and its needs. Their hero product, BioBlack TX, is a proprietary black pigment derived from wood waste, making it free of fossil fuels, renewable and safe. It can be applied to industries like printing, paint, denim coating, leather coating, automobiles, and packaging.
