Skip to content
Business Company News, Finance Investment

Phantm raises $2M to spearhead plastic reduction for Australian businesses

Phantm 2 mins read
Phantm CEO and Cofounder, Elliot Costello

Phantm, a new plastic reduction platform committed to addressing one of the world’s largest waste issues and accelerating the adoption of natural materials, has successfully secured $2 million in an oversubscribed seed round, led by Blacknova VC, Salus Ventures and CoVentures VC. With Elliot Costello at the helm, Phantm is already working with a range of leading international and Australian businesses, including MECCA, Starbucks Australia and Norwood Industries.

Phantm’s primary objective is to provide an independent pathway for businesses seeking to reduce their plastic footprint through making informed packaging and product decisions.

By providing access to industry-leading plastic and natural materials experts, Phantm helps businesses meet their ESG goals, and move towards a positive impact on people and planet. Its robust methodology, known as A-R-T (Assess, Reduce, Transition), assists firms in reducing costs and tracking their progress towards becoming plastic-free.

Elliot Costello, Cofounder and CEO of Phantm commented, "We're in the midst of a plastic crisis, and recycling alone cannot solve it. The market has been demanding alternatives, and it's time to embrace the range of different materials that can replace petrochemical plastics so that we can finally turn virgin plastic off at the tap. The enthusiasm from investors across the country is really exciting and shows the dedication to deplastifying Australian businesses." 

The plastic industry's value exceeds $600 billion USD, and consumption could nearly double by 2050 unless urgent action is taken. Globally, only 9% of plastics are recycled, with contamination and mixed plastics often hampering any recycling potential. This is in addition to the reduced quality when recycling plastics, which not only restricts reusability but also incurs higher costs compared to producing new virgin plastic.

These economic factors, infrastructure limitations, and diverse regulations make recycling challenging, which makes the increasing emergence of natural materials (such as seaweed, fungi, cellulose, pulp, and PHA based materials) a compelling alternative to tap into.

Edward Whitehead, Phantm’s Head of Strategy and global plastics expert, says Phantm utilises its verified understanding to assist brands who are otherwise fearful or hesitant to navigate the complex layers involved in plastic reduction.

“We bring the expertise that helps firms pull back the layers, ensuring they're taking the right steps towards positive change. Businesses can’t just leapfrog into perfection, and it's important they work transparently to improve, be better and do better”.

Though currently operating within Australia, the platform is dedicated to the global plastic crisis, with plans to expand across Asia, North America, and European markets. Doing so will support regions with significant plastic consumption and limited recycling infrastructure.

To learn more information about the platform or to get started in reducing your business’s plastic footprint visit phantm.com 

 

ENDS

Media Interviews:

  • Elliot Costello, CoFounder and CEO

  • Edward Whitehead, Head of Strategy - global plastics expert

  • Kaitlin Harasym, Head of Growth & Engagement

  • Matt Kendall, Head of Brand

 


About us:

About Phantm:

Phantm is on a mission to eliminate plastic from the world's supply chains. Led by Elliot Costello, Phantm provides trusted guidance to businesses and brands looking to assess their plastics usage and transition from plastic to natural materials. By offering a comprehensive approach to reducing plastic usage and meeting ESG goals, Phantm is a pioneering force in the global effort to deplastify industries and create a regenerative future.


Contact details:

For media inquiries please contact:

Megan Bentley | 0452 214 611 | megan@thebraveryishere.com

Prue Bowtell | 0431 081 200 | prue@thebraveryishere.com

Media

More from this category

  • Agriculture Farming Rural, Business Company News
  • 01/12/2023
  • 16:29
SunRice

SunRice wins Australian Export Award

MEDIA RELEASE 1 December 2023 SunRice takes home Gold at the Australian Export Awards The SunRice Group is thrilled to have been awarded the Agribusiness, Food and Beverages Award at the 61st Australian Export Awards. Held at Parliament House, the Award is in recognition of outstanding international success in the field of agricultural products, including manufactured foods and beverages. • The SunRice Group is one of Australia’s most iconic food brands and Australia’s number one rice brand. The business started over 70 years ago when a group of Riverina rice growers pooled their resources to build a single rice mill…

  • Contains:
  • Finance Investment, Oil Mining Resources
  • 01/12/2023
  • 09:50
Aurumin Limited (ASX: AUN)

Aurumin Limited (ASX: AUN) – APPOINTMENT OF DIRECTOR – DANIEL RAIHANI

Aurumin Limited (ASX: AUN), ASX-listed mineral exploration Company, is pleased to announce the appointment of Daniel Raihani as a non-executive director, effective as of today. This strategic addition to the board is expected to bring a wealth of experience and insight to the Company. Daniel Raihani, a seasoned Accountant and Tax Professional, is known for his extensive executive-level experience in both for-profit and not-for-profit sectors. His appointment comes at a time when Aurumin Limited is poised for significant growth and development. As the beneficial owner of 7 Enterprises Pty Ltd, which has recently become a substantial shareholder in Aurumin Limited,…

  • Contains:
  • Finance Investment
  • 01/12/2023
  • 08:52
Hut 8 Corp.

Hut 8 and USBTC Announce Completion of Business Combination

Shares of Hut 8 Corp. common stock are expected to begin trading on Nasdaq and the TSX on December 4 under the ticker symbol “HUT”Completion of the transaction creates a strong, diversified, and infrastructure rich organization with a pipeline of greenfield and brownfield opportunitiesTORONTO and MIAMI, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Hut 8 Mining Corp. (Nasdaq | TSX: HUT), ("Hut 8” or the “Company”) one of North America’s largest, most innovative digital asset mining pioneers and high performance computing infrastructure providers, proudly announces the completion of its business combination pursuant to which Hut 8 and U.S. Data Mining Group, Inc.…

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time your distribute with Medianet. Pay per release or save with a subscription.