Republished from Eco-Business: Original article here
Image credit: Robert Downey Jr talking to the media about the launch of Footprint Coalition at the World Economic Forum. Image: Twitter/@RobertDowneyJr
FootPrint Coalition Ventures, a new venture fund for sustainable technologies backed by Hollywood actor Robert Downey Junior, has invested in Singapore-based biodegradable plastics substitute firm RWDC Industries.
RWDC makes a bio-based plastic alternative made by feeding used cooking oil to microbes, and was the winner of the inaugural edition of The Liveability Challenge, a sustainable innovation competition. The investment from FootPrint Coalition marks the latest capital injection for RWDC, which received US$133 million in Series B funding in May last year.
RWDC is among a number of sustainable tech firms that Downey Jr’s new fund has announced financing for since launching in January. Others include bamboo toilet paper maker Cloud Paper and Ÿnsect, a French insect farming startup.
Footprint Coalition brings together investors, donors, and storytellers “committed to scaling technologies to restore our planet”, according to the firm’s website. The fund also plans to leverage “high impact media” to get audiences involved in the funding process.
“I’ve been dealing with false existential threats in the Marvel universe, and I thought it was about time to think about the real ones,” said Downey Jr, who plays Iron Man in the film adaptation of the comic series, in a video to promote the launch of FootPrint Coalition.
This story is part of a series of stories on The Liveability Challenge, an annual search for solutions to make Southeast Asia’s cities cleaner, greener places to live and workn. Applications to join The Liveability Challenge 2021 are open until 15 April 2021.