Vancouver bioplastics producer wins business award

Vancouver-based bioplastic technologies developer Solegear Bioplastics Inc. has received an award for developing a natural bioplastic the company claims biodegrades within weeks of disposal.

The Canadian Youth Business Foundation (CYBF) has given Solegear the 2010 Best Green Business award. This is Solegear’s fifth major award since August. Market research firm Frost & Sullivan recently presented Solegear with the 2010 New Product Innovation of the Year Award in Bioplastics. Prior to that, the company won three awards at the BCIC New Ventures competition, one of North America’s largest technology venture competitions.

The CYBF, with assistance from Small Business BC, provided Solegear with its initial funding five years ago.

“I am most grateful to have been supported by the CYBF and Small Business BC in Solegear’s early days,” said Toby Reid, Solegear’s founder and president. “We are currently raising the capital to meet higher-than-expected market demand, to fund the installation of our own manufacturing facility and to make key hires, all of which are critical to achieving our business milestones. My hope is that we continue to attract quality investment partners to Solegear as we transition the plastics industry towards cleaner, safer, more efficient and more sustainable materials.”

Founded in 2006, Solegear has raised more than $300,000 to date and worked with the University of British Columbia and the National Research Council of Canada to develop its lead product, which is branded as “Polysole” and available in three grades for a variety of packaging applications.