DENVER, July 25, 2024 (GLOBE NEWSWIRE) -- Today, Matereal, a pioneering plastic replacements technology, proudly announces the successful closure of its $4.5 million seed funding round, led by the Collaborative Fund. This key investment propels Matereal into its next stage of development to bring a new environmentally safe plastic to market. The funds will support the company on its mission to decarbonize and detoxify the chemical plastic supply chain. The technology powering Matereal's transformative agenda is the commercialization of its groundbreaking chemical platform, Polaris™. This innovative non-isocyanate polyurethane (NIPU) is a monumental breakthrough, offering a sustainable and safe alternative to traditional polyurethane—a historically challenging plastic to decarbonize. Nearly every product sold to consumers contains polyurethane, from fashion to paints, but it is not a renewable resource and has limited, to no, end-of-life options. With the global polyurethane market reaching nearly $90 billion annually, the need to address its carbon-intensive and toxic nature is paramount, and Matereal is on a path to replace it. Matereal's approach combines the desirable attributes of traditional polyurethane—versatility, durability, and cost-effectiveness—with cutting-edge chemistry to eliminate petrochemicals ...