Biodegradable Adhesives Provider Opens Headquarters in Indiana
BioBond Adhesives Inc. (BioBond), a portfolio company of Big Idea Venture's Generation Food Rural Partners (GFRP) Fund, announced the opening of its headquarters and development laboratories in Lafayette, Indiana. The location will enable BioBond to accelerate the commercialization of its plant-based, biodegradable adhesive and coating alternatives, targeting a wide range of industries including packaging, construction, electronics, furniture, apparel, marine, and aerospace.
According to the company, BioBond's mission aligns with the GFRP Fund's focus on driving innovation and economic growth in rural areas. The fund collaborates with universities across the United States to commercialize intellectual property in food, protein, and agriculture.
"We have received tremendous support from the Indiana Economic Development Corporation, AgriNovus, USDA Rural Development, Greater Lafayette Commerce, and Beck's in finding a suitable USDA-qualified site located just south of Lafayette," said Marc McConnaughey, CEO of BioBond. "Indiana is a welcoming environment for startups, and our proximity to Purdue University offers a rich ecosystem for collaboration and growth."
BioBond reports that the company is poised to launch four plant-based adhesive and coating products in the fourth quarter of 2024, less than a year since its inception. "Petro-based adhesives and coatings are a major source of VOCs and microplastics," said Frank Klemens, managing director of the GFRP Fund. "BioBond's innovative solutions will reduce our daily exposure to these harmful substances and contribute to a healthier environment."
Tom Mastrobuoni, chief investment officer for GFRP, added, "Indiana has embraced our investment, and the support from AgriNovus and Beck's has been instrumental in accelerating BioBond's technology towards commercialization."
BioBond is a material science company specializing in the development of biopolymer compounds to displace traditional petroleum-based adhesives and coatings. The company licenses intellectual property from multiple universities, collaborating to develop novel materials to reduce the amount of plastic waste and VOCs such as formaldehydes entering the environment. For more information, visit https://biobondadhesives.com.
Generation Food Rural Partners is an RBIC-licensed investment fund designed to drive economic growth and development in rural communities in the United States. The fund invests in the areas of agriculture, food, and protein technologies to form new companies based on intellectual property, creating living-wage jobs at its portfolio companies. For more information, visit www.bigideaventures.com/generation-food-rural-partners.
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