At S2G Ventures, we are committed to investing behind entrepreneurs that are building a humane and healthy planet. Footprint is a materials science company that is doing just that by eliminating single-use plasticware. We are thrilled to share that they have been named to Fortune’s 2020 Change the World list in recognition of the potential for their product to create scalable, positive impacts for the environment while also building a thriving, growing business through partnerships with leading global brands.
Plastics are causing havoc to the planet, its ecosystem and the human body. Only nine percent of plastic placed in the bin are recycled; the rest winds up polluting the environment — including the ocean, rivers, lakes, landfills or in the air when it's incinerated. According to a University of California study, humans have created about 8.3 billion metric tons of plastic as of 2017 - the equivalent of 25,000 Empire State Buildings or 80 Million blue whales.(1) The result is that 1 in 3 fish caught for human consumption now contain plastic.
Unfortunately, the problem is growing. The global plastic market size was valued at USD 568.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 3.2% from 2020 to 2027.(2) Researchers predict this growth will result in 34 billion tonnes of plastic by 2050 - an unsustainable situation for the environment and human health.
Footprint offers a solution to this growing problem. The company is working alongside experts to overcome plastic’s harmful chemicals by providing plant-based alternatives to single-use and short-term use plastics. These solutions are on par with plastic’s performance and cost, on a per unit basis and are designed with the entire product life cycle in mind — including the end-of-life stage where it does not harm the environment or human health.
Footprint is providing sustainable, compostable materials to leading global brands including Conagra, Tyson Foods, Molson Coors, Sweetgreen and Wegmans. Footprint has been recognized for these leading plant-based solutions and its work in preventing over 61 million pounds of plastics from entering our environment to date, and decreasing the carbon footprint of disposables by more than 44,730 metric tons, equivalent to driving around the planet 4,494 times.
“It is an honor to be recognized as part of Fortune’s prestigious list alongside companies who are making incredible change in the world,” said Footprint CEO Troy Swope. “Our customers, the largest food producers and restaurants in the world, are sustainability leaders. Together as partners, we are changing the world, away from plastic and into environmentally healthy plant-based solutions.”
“When a company thinks about its environmental footprint, they usually think about the impact of their product, not the packaging. As an innovative materials science company, Footprint is helping food companies serve more healthy and sustainable solutions to their customers, with a solution that will become cheaper than plastic,” said Chuck Templeton, S2G Ventures Managing Director.
Congratulations to founders Troy Swope and Yoke Chung and the whole team at Footprint. We are excited to be a part of your journey.