News

MORE NEWS

Pulpex Announces £62m Series D Funding

20 February 2025

Pilot Lite is delighted to announce a £62m Series D investment round led by the National Wealth Fund and The Scottish National Investment Bank, which will finance the construction of the first commercial-scale manufacturing facility near Glasgow for the sustainable technology packaging company Pulpex.

“A great journey is only getting better,” said Pilot Lite CEO and Founder Mike Anstey. “Pilot Lite has worked with its founding partner Diageo to take Pulpex from a startup to a true scale-up standing on its own feet.”

Anstey said too many companies try to solve sustainability challenges independently and fail.

“Commercial robustness with no compromise has to be baked in from the beginning,” he said. “An integrated roll-out plan must deliver green outcomes—not green-washed promises—immediately."

A key structural component to de-risking the success of sustainability initiatives is the ability to create, manage, and engage consortia, with partners held to rights on hitting commitments.

“Pulpex is a great example of successful partnership and consortia,” Anstey said.

Pilot Lite clients and Pulpex partners, including Kraft Heinz, PepsiCo, Unilever, Castrol, The Estée Lauder Companies Inc., Haleon, and others, are delivering outcomes via a controlled yet accelerated process.

funding-collaborationscale food-bev cpg commercialisation innovation funding-collaboration scale