ABOUT GREAT WRAP

• Great Wrap is a materials science company operating out of Melbourne, Australia. Its driving mission, and 10-year vision, is to “end reliance on petroleum-based plastic for good.”
• The team is made up of more than 30 makers, designers, microbiologists and chemists.
• The self-titled Great Wrap, a cling wrap and the company's hero product, is made primarily of waste from the production of potato chips. It functions in the same way as conventional plastic wrap, but will break down in home compost in under 180 days. The product is certified Home Compostable AS 5810 and certified Compostable AS 4736.
• Although the cling wrap will also break down in landfill or on the shelf after a certain amount of time, composting is the preferred end-of-life scenario, and an internal Impact Team oversees community education about composting.
• In 2022, Great Wrap released its second product, Great Mate, a refillable dispenser.
• The company has a dedicated innovation and technology department, the Great Lab, which is used to develop and test new materials.
• Great Wrap currently manufactures all of its products in Melbourne. It expanded into a 12,000 square metre facility in December 2021, which can produce one roll of cling wrap every eight seconds. By the end of 2023, Great Wrap states it will have the capacity to manufacture 30,000 tonnes of wrap per year, making it the biggest producer in Australia.
• In 2023, the company will add an on-site biorefinery, allowing for the upcycling of 50,000 tonnes of local potato waste annually.
• To date, Great Wrap has sold products into 50,000 Australian homes. The company is planning to add B2B operations to its offering, focusing on wholesale and business products.
• A Series A funding round in July 2022 raised AUD 24 million (USD 16.6 million) – AUD 11 million (USD 7.6 million) in equity and AUD 13 million (USD 9 million) in non-dilutive capital. Investors included the managing director of Thomas Food International, Darren Thomas, Woolworths, and the Grill’d Innovation Fund.
• The funding will allow the company to create 100 jobs by the end of 2023.
• Previous investors include Small Giants, GroundSwell, Giant Leap and Simon Griffiths of Who Gives a Crap.
• In July 2022, Great Wrap became a certified B Corp, earning an overall impact score of 122.7.
• The company won the Social Responsibility and Sustainability category at the 2021 Melbourne Young Entrepreneur Awards. It has also received awards and recognition from the Melbourne Awards, Good Design Awards, The Design Files, The Circle Awards and The Ocean Impact Pitchfest.