The paper drinks packaging manufacturer has already raised £1 million thanks to existing and new investors ahead of the crowdfunding launch.
The Ipswich-based company is now inviting customers, partners, individuals and members of the Crowdcube investor community to become shareholders in Frugalpac.
Frugalpac’s flagship product, the Frugal Bottle, is made from 94% recycled paper with a carbon footprint that is 84% lower than glass. It is five times lighter than a traditional glass bottle, recyclable and already widely adopted by the drinks industry.
Since launching the Frugal Bottle, more than three million have been produced by more than 50 brands across 27 countries. The bottles have also been used to package 128 different wines and spirits.
The bottles have been stocked by retailers including Sainsbury’s, Aldi, Laithwaites, Ocado, Target, Whole Food Markets and 7-Eleven.
Frugalpac is planning to use the funds to expand the use of its Frugal Bottle machines worldwide, launch a new sustainable packaging solution like paper paint pots and accelerate its impact on reducing carbon emissions.
Malcolm Waugh, CEO of Frugalpac, said: “Our mission is simple. We’re offering a scalable alternative to glass that reduces emissions, supports circularity and is already being embraced by the drinks industry.
“This crowdfunding allows eligible investors to back a proven technology at a crucial moment – and help us accelerate our impact around the world.”
The company generates revenue by selling its proprietary Frugal Bottle Machines to packaging companies and contract bottlers, and earns royalties on every bottle produced.
Machines have already been sold and exported to Monterey Wine Company in the USA and KinsBrae Packaging in Canada, and has received an order from Mother of Pearl Vodka in Australia.
Meanwhile, Frugalpac is currently handling over 2,000 enquiries, with 100 live customer quotations and 50 serious expressions of interest for machine purchases.
Waugh added: “We’re not just building packaging – we’re building a better future for the planet. And the opportunity to join us in next stage of our paper packaging revolution.”
