The objective of the Yangi EIC accelerator project was to establish a demonstration plant for cellulose dry forming packaging technology, conducting customer pilots in four packaging applications and presenting the results to additional stakeholders. Additionally, the goal was to form a scalable manufacturing and distribution partnership with a global machine supplier, while securing intellectual property rights for market release and scale-up.
The project has played a crucial role as a prerequisite for advancing the technology developed by The Loop Factory AB and facilitating the commercialization of both the technology and the market.
As part of this effort, the dry forming technology was spun out into a new entity, Yangi AB, during the project with The Loop Factory AB as main beneficiary and Yangi AB as Affiliated Entity. This step was taken to prepare for successful commercialization and to secure investments for future growth.
Under the project, we have matured the technology from TRL5/6 to TRL 7/8, making it ready for commercialization. We have demonstrated traction in the market and ensured scalability by establishing partnerships with subcontractors in the supply chain, including a global machine producer who will manufacture the technology and act as a subcontractor. Additionally, we have secured our intellectual property with pending patents and registered trademarks and confirmed freedom to operate concerning competing solutions in the market.
The technology has been demonstrated and piloted, utilising our state-of-the art demo facility, to over 60 stakeholders in the packaging value chain. Project results and the solution has been presented, communicated, and disseminated in several global and international forums, such as trade fairs, investor events and conferences targeting the packaging industry. We have also engaged actively in social media, with further developed communication channels, brand and website. The result, Yangi is now established as a prominent solution provider for cellulose dry-formed packaging, with a strong foundation for future growth.
As a result, we have now launched the Cellera dry forming industrial platform, ready for commercialization in 2024 and strengthened the unique value proposition of Yangi's machine platform and offerings. We have also successfully developed the business plan and onboarded investors.
The team has expanded from 8 employees to 30 full-time equivalents, where we have recruited senior positions such as Chief Commercial Officer (CCO), Chief Financial Officer (CFO), and Chief Operating Officer (COO) and attracted key specialists competences within the area, whereof 4 PhD:s.
Through our positioning as a key enabler with unique competence in the field we have also established strong R&D collaborations to further develop the ecosystem and joined multiple R&D consortiums and projects within the area.
With 77 machines in operation by 2030, our technology is expected to save more than 190 000 tons of plastic waste, 11 Bn litres of fresh water and 260 000 tons of CO2.