TemperPack, a sustainable thermal packaging solutions company, recently announced that it has raised $22.5 million in Series B funding led by Revolution Growth. New investors Harbert Growth Partners, Arborview Capital, and Tao Capital Partners along with existing investor SJF Ventures also participated in this round. In conjunction with this funding round, Revolution Growth partner Todd Klein and Harbert Growth Partners general partner Brian Carney are joining TemperPack’s board of directors.
What does TemperPack do? TemperPack manufactures and distributes sustainable packaging products to replace single use plastics like Styrofoam.
James McGoff, Brian Powers, and Charles Vincent founded TemperPack in 2015. And the company has been successfully pursuing its mission to reduce the amount of unsustainable packaging driven by e-commerce food platforms.
“Plastic foam can take more than 500 years to degrade. It’s an antiquated technology that damages brands as much as it damages the environment. Consumers, governments and logistics companies are all desperate for a truly functional, authentically sustainable alternative. ClimaCell finally fills that void,” said TemperPack cofounder and co-CEO Brian Powers in a statement.
Aside from the environmental problems, packaging waste represents one-third of all municipal trash and it costs local governments billions of dollars to dispose every year.
TemperPack designs and tests products at its state-of-the-art Proving Ground lab to meet client specifications such as fresh food delivery and biologic drug shipments. TemperPack’s patent-pending ClimaCell technology has been used as a sustainable alternative to plastic foams like Styrofoam. And ClimaCell is How2Recycle certified and curbside recyclable. And it insulates as well as expanded polystyrene.
“Packaging is a bit like electricity; the average person doesn’t always think about it, but it’s moving and working all around us non-stop. At any given moment there are millions of products in transit packaged in single use plastic. With the rise of e-commerce, we’re focused on making packaging that is designed as thoughtfully as the products it protects,” added TemperPack cofounder and co-CEO James McGoff.
TemperPack currently operates two factories in Virginia and Nevada. And the company is rapidly expanding its reach in the food and life science cold chain logistics markets. The company estimates that it has avoided 15 million pounds of carbon emissions and diverted 10 million pounds of plastic foam from landfills thus far. It is estimated that manufacturing ClimaCell reduces carbon emissions by 97% compared to manufacturing comparable plastic foam.
