Nature Coatings secures $2.45M in funding led by The 22 Fund and Regeneration.VC

22 August 2023

Nature Coatings, a leading biochemicals company transforming waste materials into bio-based, safe and renewable solutions, is proud to announce the successful completion of an oversubscribed US$2.45M Seed funding round. The investment round was led by Regeneration.VC and The 22 Fund, with participation from actor and environmentalist Leonardo DiCaprio, Safer Made, and Portfolia.

This significant investment follows the highly successful launch of Nature Coatings’ flagship product, BioBlack TX, their carbon-negative and high-performing alternative to petroleum-derived carbon black. This groundbreaking dispersion is entirely bio-based, boasting a unique black pigment sourced from FSC certified wood waste. It has garnered worldwide acclaim and has been embraced by renowned fashion brands like the Kering Group, Levi’s, Bestseller’s Jack & Jones and Selected HOMME, as well as Vollebak.

Founder and CEO of Nature Coatings, Jane Palmer, a veteran in the pigment and dyes industry with more than two decades of experience, expressed her motivation behind the company’s vision, stating: “Working in the pigment and dyes industry for over 20 years, I’ve seen the negative impact it has had on our environment and health. This inspired me to find a way to develop something better, something that is safe enough to be buried in my vegetable garden. At Nature Coatings, our vision is to create a future where the chemical industry operates in harmony with nature and this new investment will take us closer to our goal.”

Regeneration.VC and The 22 Fund, leading investment firms in the field, spearheaded the financing of Nature Coatings. Regeneration.VC specialises in supporting forward-thinking businesses that offer innovative alternatives to reduce environmental impact, while The 22 Fund focuses on investing in high-potential women and BIPOC-owned cleantech-based manufacturing and exporting companies.

Dan Fishman, General Partner at Regeneration.VC expressed his enthusiasm, stating: “As a Consumer ClimateTech fund focusing on the re-imagination 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 and moderate income communities. We are excited to utilise our network and expertise to support Jane Palmer and be a part of the next growth phase of Nature Coatings.”

“Nature Coatings offers a bio-based, long term solution that can be translated across many industries contributing to the mission for a cleaner, more sustainable environment. I am excited to join as an investor and support the company’s growth that will enable brands to adopt safer practices, while also educating the consumer on more sustainable products,” said Leonardo DiCaprio.

This recent investment will enable Nature Coatings to expedite the adoption of BioBlack TX by expanding manufacturing capabilities, strengthening the senior team, and establishing a global distribution network.

Since its inception in 2017, Nature Coatings has been at the forefront of innovation with BioBlack TX. This solution not only benefits the planet by being free of fossil fuels and sequestering more carbon dioxide than it emits but it also prioritises the health and well-being of individuals by containing non-detected Polycyclic Aromatic Hydrocarbons (PAHs) and carcinogens, and having less than 0.1% of Volatile Organic Compounds (VOCs). With its cost-competitiveness and superior performance, BioBlack TX aids companies in their decarbonisation efforts and compliance with impending regulations like MRSLs (Manufacturing Restricted Substance Lists). In addition to the textile industry, BioBlack TX can be applied in various other sectors, including paint, automotive, package printing, and more.

Previous investors that supported Nature Coatings are Fashion for Good, Apex Black Ltd, Bestseller’s HEARTLANDS A/S, Textile Innovation Fund and Los Angeles Cleantech Incubator (LACI) Impact Fund.

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