Last week at the Green Carpet Fashion Awards, we announced the winners of the TOM FORD Plastic Innovation Prize - the only global competition focused exclusively on sourcing and scaling biologically degradable alternatives to thin-film plastic made from fossil fuels, which makes up nearly half of all plastic waste entering the ocean every year.
In March 2022, we selected eight Finalists from amongst 64 applications spanning 26 countries and six continents. Over the last year, they each underwent rigorous review by our Scientific & Technical Advisory Board and panel of Judges.
We looked for solutions that minimized negative social and environmental impacts, used sustainable feedstocks like seaweed, and met industry performance standards. Over the course of a rigorous nine month material testing phase, our research partners at the New Materials Institute and Seattle Aquarium vetted their materials to ensure that they would biologically break down in the environment and would not harm marine life if ingested.
Now, we are excited to celebrate the winners:
FIRST PLACE
Sway is a US-based and female-led company on a mission to replenish the planet from sea to soil.
SECOND PLACE
ZeroCircle is a female founded team based in India that has created a seaweed-based thin-film plastic that benefits local women and the communities engaged in seaweed cultivation.
THIRD PLACE
Notpla is a UK based company making packaging disappear, inspired by nature's own solutions.
PRIZE PURSE PRESENTED BY
The $1.2 million Prize Purse is a combination cash prize and direct investment presented by Title Sponsors TOM FORD BEAUTY and The Estée Lauder Companies, and Trousdale Ventures, the exclusive venture capital partner of the Prize.
The Prize Purse aims to support Winners to scale their solutions to replace traditional thin-film plastics, which make up 46% of all plastic waste leaking into the ocean each year.
DIRECT INVESTMENTS BY EXCLUSIVE VENTURE CAPITAL PARTNER
MATERIAL TESTING
Winners underwent a nine month testing phase, aligned with international standards and rigorously reviewed by our Scientific & Technical Advisory Board, to ensure their materials are biologically degradable.
SPONSORED BY
TESTING PARTNERS
UP NEXT
Following the award of the Prize Purse, Lonely Whale will launch an Innovation Accelerator sponsored by TOM FORD BEAUTY and The Estée Lauder Companies, designed to ensure Prize Winners achieve widespread market adoption of their innovative alternatives to traditional thin-film. Further details will be announced in June 2023.
Brands interested in joining the Early Adopter Coalition can learn more on our website or reach out to [email protected] to start a conversation.
