Bioplastics developer raises $133 million in new funding in quest to replace single-use plastics

Read the full story at CNBC.

Biotech company RWDC Industries announced on Tuesday that it raised $133 million in a two-stage Series B funding round.

The Singapore-based company, which also has operations in Athens, Georgia, makes a sustainable material solution that can be used as a substitute for plastic across a wide array of products, including straws and fast-food containers. The company uses renewable sources like used cooking oil for its feedstock, and its product is entirely biodegradable.

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