HP Announces Acquisition of Plastic-free Packaging Development Firm Choose Packaging
A Brief Summary
Choose Packaging is a packaging development firm and the creator of the world's only commercially produced zero-plastic paper bottle. Choose's proprietary technology can contain a wide range of liquid items and is an alternative to plastic bottles. Its paper-based bottles are created from non-toxic, naturally occurring materials, and set a new worldwide standard for bottling solutions.
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The deal is part of HP's "goal to disrupt critical vertical industries and advance environmental sustainability," according to the company. HP has announced a 3D printing-enabled Molded Fiber Tooling Solution to alter the $10 billion fibre-based sustainable packaging market, giving a rapid and economical way to bring customised, fibre-based goods to market. Choose will be integrated into HP's Personalization & 3D Printing division.
Savi Baveja, Chief Strategy & Incubation Officer, HP Inc, said: “This acquisition is a great example of how we continue to strengthen our capabilities in attractive verticals like sustainable packaging while also driving progress against HP’s broader sustainability goals. Choose has built a truly differentiated technology and we are excited to welcome this talented team to the HP family.”
HP estimates that over 150 million tonnes of single-use plastics are manufactured each year, and the business plans to disrupt this industry with fibre-based, plastic-free packaging.
James Longcroft, Founder and Managing Director Choose Packaging, said: “As a plastic-free packaging development company, we’ve successfully created technology that can provide a viable alternative to plastic bottles to help eliminate single-use PET packaging. HP’s world-class capabilities and expertise can help scale our impact at a global level. We are thrilled to join the HP team and couldn’t have chosen a better match in terms of our shared goals for business, technology, sustainability, and a values-oriented culture.”