FOR IMMEDIATE RELEASE
Genera Secures Investment for Sustainable Packaging and Fiber Products Made From Grass
Tennessee-based company closes financing for its first Earthable® fiber products manufacturing facility
VONORE, Tenn. – July 17, 2019 – Genera announced today it has secured more than $118 million in new investment for its first manufacturing facility to produce its Earthable® line of sustainable agricultural fiber products.
Genera will use locally grown grasses and other agricultural crops to make compostable food service packaging products like plates, bowls, and takeout containers at its new manufacturing facility in Vonore, TN. In addition to making products that are a sustainable alternative to plastics and polystyrene (Styrofoam-type products), Genera’s Earthable® fibers are also used to produce a wide array of towel, tissue, cupstock and other paper products. Earthable® will be the largest fully integrated, domestic solution for ag-based fiber and food-grade packaging in the United States, designed to meet the growing, consumer-driven demands for more eco-friendly products in the food and consumer industries.
“With this new investment, we can begin to answer the increasing demand for environmentally conscious solutions with a truly farm-to-table product made in America,” said Kelly Tiller, president and CEO of Genera. “We’re excited about the new revenue stream we can offer our local farmers. Our Earthable® plant-based paper and packaging products really resonate with consumers. We are passionate about delivering sustainability improvements to the marketplace while making positive impacts in rural economies.”
The financing was anchored by an equity investment from WindSail Capital Group, a growth capital investor specializing in sustainability and energy innovation. Wi