Sealed Air Corporation (NYSE: SEE) and Ecovative Design LLC completed an agreement to accelerate the production, sales and distribution of Ecovative’s EcoCradle® Mushroom® Packaging, a new technology for environmentally responsible packaging materials made from agricultural byproducts and mycelium, or “mushroom roots”.
As part of the agreement, Sealed Air will be the exclusive licensee of Ecovative’s mycelium based material technology in North America for protective packaging applications. Since January, Sealed Air and Ecovative have been developing together plans for sales and marketing as well as the augmentation of production capabilities. Sealed Air plans to begin offering the new products immediately.
"We have been pleased with our relationship with Sealed Air and have seen how their sales network, strong packaging design capabilities, and world-class supply chain will help us further our vision and broaden our impact, providing an innovative and effective alternative to petrochemical based packaging at a much larger scale," said Eben Bayer, CEO of Ecovative.
“We are excited to be the exclusive provider of Ecovative’s technology for protective packaging applications. The Ecovative Design team has created a fundamental material technology, using the unique properties of mycelium, to provide solutions to protective packaging. And we have seen their success in manipulating these materials’ properties to produce varying density, strength, texture, and appearance to meet different performance needs of a variety of customer applications,” said Ryan Flanagan, President of Sealed Air’s Protective Packaging business.“The agreement also furthers our SmartLife™ commitment to sustainability and providing solutions that reduce waste throughout the supply chain. This technology turns an agricultural waste material into a packaging solution that meets our customers' performance needs and protects against their products being damage during shipping. Furthermore, it broadens our product portfolio for molded shapes and potentially other applications,” Flanagan added. Sealed Air’s Protective Packaging business delivers an extensive portfolio of protective, industrial and display packaging systems to meet diverse application requirements across a broad range of industries. Sealed Air operates Packaging Design Centers globally and delivers a compelling value proposition that comes from a total solution approach that positively benefits multiple areas of customer operations – ultimately driving efficiencies and business value from the plant floor to their customers’ doorsteps.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV