Uluu has raised AUD $16 million in Series A funding to develop a demonstration plant and expand its innovative seaweed-based material technology. The funding round was led by Burda Principal Investments, a German growth investor, with support from Main Sequence, Novel Investments, Startmate, and impact-focused investors like Fairground and Trinity Ventures.
Uluu’s next-generation materials match the performance of conventional plastics and can be processed using existing manufacturing equipment. Unlike fossil fuel plastics, Uluu’s products are reusable, recyclable, home compostable, and marine biodegradable, breaking down naturally without microplastic pollution. They are strong, lightweight, waterproof, non-toxic, and climate-positive at scale.
At full commercial capacity, Uluu’s process could sequester or avoid up to approximately 5kg of CO₂ equivalent per kilogram of material, compared to around 3kg emitted by traditional plastics today. This technology has the potential to cut global CO₂ emissions by more than 2 gigatonnes annually, making a significant environmental impact.
With the new funding, Uluu plans to transition from its 100kg/year pilot facility to a 10-tonne/year demonstration plant in Western Australia. This will enable the company to supply larger volumes of sustainable materials to customers in various industries.
Uluu is already collaborating with global partners in cosmetics, fashion, and automotive sectors, including campaigns with Quiksilver, Papinelle, and Audi. Co-CEO Michael Kingsbury expressed enthusiasm, stating, “After four years developing this technology, this next step allows us to deliver meaningful volumes of our materials and demonstrate our ability to compete with fossil plastics.”
Co-CEO Dr. Julia Reisser highlighted seaweed’s sustainability, noting it grows quickly, absorbs CO₂, and cleans oceans. “Harnessing seaweed enables us to produce materials with a positive environmental impact, ending plastic pollution.”
The Series A funding also supports plans to build a large-scale facility capable of producing thousands of tonnes annually for global markets, reinforcing Uluu’s role in transforming sustainable material production.
