The Subnational Climate Fund (SCF) is going to provide technical grant support to Loliware's plastic-free initiative in Central America – an initiative at the intersection of plastic pollution, blue economic development, and climate change mitigation.
SAN JOSE, Calif., Dec. 18, 2024 /PRNewswire-PRWeb/ -- The Subnational Climate Fund (SCF) is going to provide technical grant support to Loliware's plastic-free initiative in Central America – an initiative at the intersection of plastic pollution, blue economic development, and climate change mitigation. The project aims to replace conventional plastic with Loliware's seaweed-based resins, which are regenerative, carbon-capturing, and entirely biobased. The project addresses both plastic waste and environmental challenges practically and sustainably.
Loliware is partnered with a leading family-owned manufacturing company in Guatemala for the project site. Guatemala is the largest economy in Central America and has already made significant strides towards sustainable development. With a GDP of approximately $84 billion, the country has implemented the Climate Change Framework Law, which supports the Low Emission Development Strategy (LEDS). This strategy aims to cut greenhouse gas emissions by 59% by 2050. It targets six key sectors: energy, transportation, industry, land use, agriculture, and waste management. This foundation enables more innovative projects like Loliware's to contribute to and achieve the United Nations' Sustainable Development Goals (SDGs).
And like Loliware, Guatemala is already working towards a plastic-free future. In 2019, the government implemented a nationwide ban on single-use plastics like bags, straws, and food containers, requiring businesses to transition to compostable materials. However, despite this progress, challenges such as limited waste management infrastructure and open burning of plastics in rural areas persist, posing serious environmental and health risks.
Loliware, with the technical assistance support from the Subnational Climate Fund (SCF), is advancing solutions to address these challenges with the introduction of seaweed-based resins—regenerative biomaterials made with ocean-farmed seaweed, that are both backyard compostable and biorenewable. Beyond reducing plastic waste, this initiative supports coastal resilience, empowers women through job creation, and strengthens local economies, aligning with Guatemala's sustainability goals.
"We are honored to join forces with the extraordinary families and manufacturing communities in the region. Loliware's initiative marks the beginning of a long-term collaboration, and we are fully dedicated to driving meaningful and enduring positive impact. By introducing regenerative seaweed materials, we hope to end plastic pollution and safeguard the Rio Motagua for future generations." – Sea Briganti, Founder & CEO, Loliware
Guatemala marks just the beginning. Over the next three years, Loliware intends to collaborate with six more plastics manufacturers across Central America. This effort highlights the region's potential to emerge as a global leader in advancing the green economy and promoting technological innovation.
The Subnational Climate Finance initiative (SCF) invests in subnational climate-smart infrastructure projects incorporating nature-based solutions including sustainable energy, waste and water management, urban development solutions and sustainable agriculture. The SCF Initiative consists of an investment fund managed by Pegasus Capital Advisors and a Technical Assistance Facility executed by Catalytic Finance Foundation, the International Union for Conservation of Nature and Gold Standard.
Established in 2016, Loliware is a materials innovation company utilizing AI to develop materials to replace single-use plastics with seaweed-based alternatives. Our groundbreaking SEA Technology® Resins present a sustainable solution with endless potential. Compatible with existing plastic manufacturing equipment, they enable the production of home-compostable, circular products that aid in Earth's regeneration. Loliware's current line of award-winning seaweed-based bio-resins matches conventional plastics' performance, addressing the issue of microplastics and promoting nature-based carbon sequestration. SEA Technology® Resins have been successfully validated by leading manufacturers, compounders, and brands globally and are available for licensing.
Media Contact
Loliware Press Team, Loliware Inc., 1 (408) 960-3807, [email protected], www.loliware.com
SOURCE Loliware Inc.
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