IonKraft Receives €3.5 Million in Financing to Develop Plasma-Based Barrier Coatings

IonKraft GmbH, a spin-off of RWTH Aachen University, has successfully closed its first equity financing round of €3.5 million. IonKraft develops innovative plasma barrier coatings that replace non-recyclable barrier solutions and enable a fully circular economy in the packaging industry. The funds will be used to prepare for market entry and scale-up.

The financing round was co-led by M Ventures (Merck’s strategic investment fund) and TechVision Fund, with participation from High-Tech-Gründerfonds.

“This financing round is a decisive step in supporting the launch of our technology and preparing for future scale-up. We are pleased to have a diverse group of investors who share our vision and will support us on multiple levels,” said Benedikt Heuer, co-founder of IonKraft.

IonKraft was founded in 2021 by Dr. Montgomery Jaritz and Benedikt Heuer. During his research at the Institute for Plastics Processing, Dr. Jaritz discovered the market opportunity for plasma coatings. This led to the development of a new high-barrier technology that makes containers both chemically resistant and fully recyclable, with a barrier effect comparable to glass. The patented technology enables packaging producers to replace millions of tons of non-recyclable multilayer or fluorinated (PFAS) packaging.

In addition, the barrier technology can provide sufficient protection to allow the incorporation of recycled materials into the packaging of sensitive products, food or cosmetics.

"IonKraft offers a market-ready coating technology that can be easily integrated into existing production lines. The company has huge leverage to achieve circularity, starting in areas outside the mainstream focus," said Björn Lang, Partner at TVF Management.

With support from the EXIST Research Transfer Program of the Federal Ministry for Economic Affairs and Climate Action (BMWK), the IonKraft team developed the machine technology for applying the coating to a variety of containers and validated a wide range of applications with a variety of different industry partners.

In 2023, IonKraft received funding from the prestigious European EIC Accelerator Program, enabling the company to develop its industrial machine and prepare for market launch. The first industrial coating system is expected to be deployed to customers by the end of the year. The first products with IonKraft coatings are scheduled to be available in 2025.

Nils Lang, Investment Manager at HTGF, commented: "We are pleased to support IonKraft's market launch and expansion. Their solutions meet strong market needs and are in line with the current momentum of change. With a great team and an excellent track record, we believe they are well-positioned to meet any challenges ahead."

IonKraft's mission is to drive the global packaging industry's transformation towards a circular economy. The company aims to set new industry standards for barrier packaging by eliminating non-recyclable materials and offering environmentally friendly alternatives.

Over the past two years, IonKraft has worked with industry partners to validate the effectiveness of its coatings in a variety of applications, enabling manufacturers to create fully recyclable products while reducing environmental impact and carbon footprint. With the additional funding, IonKraft plans to expand its team and scale up the production of coating machines.

Owen Lozman, Managing Director of M Ventures, shared, “IonKraft’s innovative coating is attractive for a number of reasons: it offers an alternative to regulated PFAS and glass that is susceptible to breakage or requires secondary packaging, and it has the potential to maximize recycling rates in future plastic packaging solutions.”