Sustainable packaging chief expands capabilities
LIVERMORE, Calif.–(BUSINESS WIRE)–March 31, 2020–
Vericool, Inc., a number one innovator and producer of environmentally-friendly packaging options, introduced at present that it has closed $19.1 million in Series A Preferred Stock financing. The funding, which formally closed March 27th, will probably be used to satisfy the quickly growing demand for Vericool’s patented, market-leading merchandise and elevated enterprise by prospects throughout industries, together with meals service and pharmaceutical.
This press launch options multimedia. View the total launch right here: https://www.businesswire.com/news/home/20200331005414/en/
Vericool’s revolutionary, cost-effective, patented and patent-pending merchandise are comprised of 100% recycled paper fibers and different plant-based supplies. The merchandise are utilized to ship meals and medical merchandise that require certified, temperature-controlled packaging. Vericool’s merchandise are curbside recyclable and compostable, avoiding the detrimental impacts created by conventional packaging. (Photo: Business Wire)
Vericool’s mission is to interchange conventional packaging supplies that pollute the surroundings, reminiscent of polystyrene (styrofoam). Polystyrene, used for its low-cost insulation qualities, is never recycled. Some specialists say it could take 500 years to interrupt down in landfill and its white pellets wreak havoc on the surroundings –littering seashores, roadways and being fatally ingested by marine and different wildlife.
Vericool’s revolutionary, cost-effective, patented and patent-pending merchandise are comprised of 100% recycled paper fibers and different plant-based supplies. The merchandise are utilized to ship meals and medical merchandise that require certified, temperature-controlled packaging. Vericool’s merchandise are curbside recyclable and compostable, avoiding the detrimental impacts created by conventional packaging.
“We are happy to announce the closing of our equity financing. This is a transformative event for Vericool and solidifies us as the industry leader in sustainable thermal technology. Our cost-effective, patented products outperform polystyrene and can be used for many applications and customers. This new capital enables us to rapidly penetrate and support the exploding market for these environmentally-friendly solutions,” stated Darrell Jobe, CEO and founder, Vericool. “The deal also brings to the company investors with significant experience managing and financing rapid growth. Partnering with mission-aligned investors such as Radicle Impact Partners, The Ecosystem Integrity Fund, ID8 Investments and AiiM Partners will enable us to successfully take Vericool to the next level.”
“We’re pleased to support Vericool because of the company’s track record of innovation, high-performance products, well-established patent portfolio and focus on environmental resilience. We are inspired by the company’s social justice commitment to address recidivism and provide workplace opportunity to formerly incarcerated individuals,” stated Dan Skaff, managing associate of Radicle Impact Partners and Vericool’s new Lead Director. “Darrell’s creativity and vision for Vericool are aligned with our investment strategy of scaling businesses that are focused on diversity, equity and inclusion and deliver benefit to the environment and our communities.”
About Darrell Jobe
Darrell Jobe grew up in Richmond, California. He dropped out of college within the eighth grade, joined a gang in his teenagers, was homeless, and out and in of hassle. In his early 20s, he determined to vary his life. Finding a job was tough, however he ultimately landed a gross sales place with a packaging merchandise distributor. Having dropped out of college, he taught himself gross sales and engineering abilities. After a extremely profitable gross sales profession, he based Vericool in 2015 after noticing the absence of environmentally-friendly packaging merchandise.
Vericool was based in 2015 with the aim to guard folks and the planet by lowering the usage of unsustainable packaging supplies (beginning with, however not restricted to, expanded polystyrene foam). The firm created the world’s first eco-friendly cooler in 2017 and is a pacesetter in proprietary, patented, plant-based sustainable packaging options which can be customizable and high-performing. Vericoolers can carry out to customer-defined ASTM and ISTA requirements. Vericool is dedicated to a various workforce, supporting these in want of a second probability in an effort to scale back jail recidivism. The firm is headquartered in Livermore, CA.
Radicle Impact Partners – http://www.radicleimpact.com/
Ecosystem Integrity Fund – http://www.ecosystemintegrity.com
ID8 Investments – http://www.id8investments.com
AiiM Partners Fund – http://www.aiimpartners.com
View supply model on businesswire.com: https://www.businesswire.com/news/home/20200331005414/en/
Pamela Bennett Ajello for Vericool