NatureWorks LLC will be looking at further growth and expansion in the next months as they have recently acquired an impressive US$150 million in investments from PTT Chemical Public Company Limited (PTT Chemical).
NatureWorks shares more about their most recent funding achievement in this recent e-interview with Lead411.
Who are your competitors and how are you different from them?
In terms of competition, Ingeo can go head to head with a number of different petroleum-based plastics and fibers depending on performance requirements of the application, price, and the sustainability objectives of the brand owner.
Here are the reasons for this:
NatureWorks was the first company in the world manufacture in commercial quantities a plastic made from renewable plant materials, not oil. Ingeo bioplastic requires less energy to produce and emits less greenhouse gas during manufacture than all petroleum-based plastics. Ingeo is used in a host of products from packaging to computer and printer cases to diapers and wipes.
Because it is based on renewable plant material, Ingeo is not subject to the wide swings in price common to petroleum products. Low carbon footprint and stable pricing are two of the major reasons that brand owners specify Ingeo over other plastics. In some instances, such as food service ware like flatware, cups, plates, and trays, Ingeo is also in demand because it can be easily collected and industrially composted if there are local composting facilities.
In applications where Ingeo has the performance characteristics for the product and the brand owner wants a low carbon footprint plastic that has stable pricing then Ingeo will be considered for purchase over the dozens of different petroleum based plastics that might also be used in that application.
What percentage of your marketing budget is spent on the following?
NatureWorks, as a private company does not disclose this type of information.
What marketing tactic has given you the highest ROI? What percentage ROI do you get back on this?
Since NatureWorks is fundamentally introducing a new material, the company works closely with brand owners and the supply chain on a pull through strategy.
What do you plan to spend your new funding on? Product Development? Marketing?
The investment will allow NatureWorks to proceed with an aggressive growth strategy, including building a new plant and expanding the company’s global commercial organization. The new Ingeo plant in Thailand will come online by 2015. The new plant will be able to process sugarcane or cassava, which are locally available and this will provide NatureWorks with feedstock diversification. The new manufacturing facility will double production capacity.
How many employees do you have?
When were you founded?
How much did you revenue increase (if any) this year over last year?
Want to learn more about their recent funding? You can check their press release here.