12 billion aerosol sprays, gels and foams are manufactured annually; over 500,000 tons of gas (used as a propellant in aerosols) contribute to the expensive packaging and environmental danger of today’s aerosol canisters. An Israeli company, GreenSpense, has developed an eco-friendly solution to the challenges and dangers presented by aerosol containers.
does away with the need for gas and pressurized-metal-canisters, used for sprays, gels and foam products, which make aerosols polluting, dangerous and expensive to pack. Made from innovative material using nanotechnology, GreenSpense’s Eco-Sleeve unleashes design creativity in packaging shapes and materials, providing a huge marketing and ecological advantage to producers, while reducing packaging and product costs and eliminating the use of harmful gas.
GreenSpense was chosen to represent Israel in the International Cleantech Open Ideas Competition in San Francisco, the “Oscar” of CleanTech awards, where it won 1st place in the Chemistry & Advanced Materials category. Additionally, the company was recently selected as one of the 9 most promising cleantech companies in Europe at the Startup Initiative Cleantech competition sponsored by the Bank Intesa Sanpaolo . We spoke with GreenSpense CEO Gadi Har-Shai following these announcements.
“There are a number of companies in the world working on developing alternatives to the environmentally harmful aerosol,” says Har-Shai. “However we have succeeded in developing a solution that brings with it the necessary spraying power, resulting in tiny droplets, which the consumer market demands.”
GreenSpense was founded in 2011 and is a portfolio company of Trendlines Agtech (Mofet), a venture investment company which focuses on the development of innovative companies in the agricultural and ecological sphere. $700,000 have been invested in the company up until today, and the company is seeking out additional investment to fund the production process of its products. The current wins bring valuable attention to the company, and will likely open doors to investment and to strategic cooperations.
“We were very impressed with the work done by the Israeli Foreign Trade Administration in Italy in helping us to achieve our goals,” explains Har-Shai. “Economic Attaché Yoni Hadar and Paola Pagnotta went far beyond our expectations, and set up very useful meetings and contacts for us with potential partners, in addition to aiding with the competition process. If people ask themselves how effective is the Israeli government in supporting industry, I can say that the work done for us at the Ministry of Economy was extremely effective.”
“We are proud to have the opportunity to support GreenSpense with their cutting edge technology,” said Economic Attaché in Milano Yoni Hadar. “In our view this is just a milestone toward securing an investment in the company and we intend to continue promoting their activities here. Italy is a leader in the area of packaging with around 25% of the production of packaging machinery in the world and in this respect the success of GreenSpense here is significant. We believe that Italy is an interesting market for Israeli innovation in the area of clean and environmental friendly technologies that can support the Italian government’s decision to be among the leaders of Europe in this area. Due to the favorable conditions in the Italian market for Israeli companies, we expect additional projects that we were working on in recent years in to materialize in 2014.”