Packaging manufacturer Frugalpac secures £2m investment
UK-based sustainable packaging firm Frugalpac has secured additional funding of £2m as it prepares for the next stage of development.
The company’s directors agreed to the investment at the Annual General Meeting. The action received support from Frugalpac’s 72 private shareholders. The £2 million in funding aims to support the next stage of the company’s development and support the launch of a paper-based bottle for wine and spirits, as well as a paper-based pot for various foods including noodles and yogurts.
The company is known for the world’s first coffee cup made from recycled paper. Known as Frugal Cup, it is produced using 96% recycled paperboard with a polyethylene (PE) food grade liner. The company opened a new manufacturing site in Wrexham, Wales, in 2019 to meet the demand for Frugal Cups from UK coffee shops.
The existing conventional cups are made of virgin paperboard and tightly bound plastic or polylactic acid (PLA).
Frugalpac chief executive Malcolm Waugh said: “This is a massive vote of confidence in a pioneering British company at the forefront of designing and producing innovative sustainable packaging.”
