Houston, Texas – August 13, 2021 – Texas-based MxG Fiber, a manufacturer of sustainable food packaging that can replace single-use plastic, is seeing significant success in its investment crowdfunding campaign on the WeFunder platform. The company produces food packaging from thermoformed fiber rather than plastic, making eco-friendly containers that benefit, rather than harm, the environment. The campaign has raised more than $523,000 to date.
Vast quantities of plastic food packaging are used and thrown away each year, and while a small percentage of plastic gets recycled, most of it ends up in landfills and polluting oceans and other waterways. The Natural Resources Defense Council (NRDC) points out that it’s not just the disposal of plastic that poses environmental issues, though: plastic products are made from fossil fuel-based chemicals, and “plastic production contributes to planet-warming greenhouse gas emissions at every point in its life cycle.”
Concerned about the impact of plastic packaging on the environment, and specifically its contribution to climate change, MxG Fiber CEO Matt Griswold was determined to take action. He conducted a worldwide search for a plant-based alternative to plastic food containers, and what he learned was that a resource existed that could not only produce high-quality, cost-effective food containers; it would also actively decrease the greenhouse gases that contribute to climate change.
That resource is a high-yield perennial grass called Miscanthus. A rapidly renewable fiber, Miscanthus grows back every year for twenty-plus years, yielding eight to ten tons per acre. Miscanthus is easy to grow, requiring less water and fertilizer than other crops. Furthermore, it grows on marginal farmland that couldn’t be used to grow food – land that would otherwise sit idle instead of earning money for farmers. Perhaps the most beneficial aspect of Miscanthus, however, is its ability to capture carbon dioxide in the soil, sequestering up to three tons of this greenhouse gas per acre every year. In addition, the food containers MxG Fiber produces from Miscanthus are recyclable, biodegradable, and compostable.
“I am really passionate about our plant-based packaging,” says Griswold, “because it helps to solve two of the world’s most pressing problems – single-use plastic and climate change. Plus, our products are made in the USA, from plant fibers grown by American farmers.”
Most molded fiber packaging comes from China. Those products are subject to fluctuations in currency or tariffs and delays due to overseas shipping. Products made in the US, however, “offer superior sanitary and ingredient traceability,” as Griswold points out. MxG Fiber controls its products along the entire supply chain, using track-and-trace protocols to ensure that each lot of finished product can be traced from the field, to storage, to manufacturing and delivery.
While food packaging is MxG Fiber’s primary business, the company has recently explored an additional revenue streams with significant success. Griswold recently announced the signing of an agreement to produce high-end horse bedding with Miscanthus fibers, a deal representing $4 million in annual revenue over five years.
For more information, visit MxG Fiber’s WeFunder campaign page.
About MxG Fiber:
With subject-matter expertise encompassing farming, storage, logistics, engineering, product development, and manufacturing, MxG Fiber has developed the first commercial-scale Miscanthus crop operation in North America. MxG Fiber is launching a facility that will be the largest in the world to produce sustainable packaging from Miscanthus, a rapidly renewable perennial crop that sequesters carbon and is grown with minimal inputs.
Company Name: MxG Fiber, LLC
Contact Person: Matthew Griswold, CFA
Email: Send Email
Address:122 N Holderrieth Blvd., Suite 1443, Tomball
State: TX 77375
Country: United States