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Part of the challenge of assessing 2023 was also true in 2022 comparisons to massive demand growth in 2021 that occurred as market recovered from the COVID-19 pandemic.
Verde was founded in 2020 as a full-service bioplastics company specializing in sustainable materials, innovation and manufacturing with its PolyEarthylene-brand resin.
Verde pioneered PolyEarthyleneTM, an innovative and proprietary bioresin that has the potential to replace traditional petroleum-based plastics and disrupt the plastics industry. It is an economically feasible alternative that is capable of being dropped into existing plastics manufacturing processes.
Verde is one of the first scalable full-service bio-resin market solutions we believe is capable of meeting most of the environmental, application, manufacturing, and cost requirements of the industry.
Verde’s current applications may be able to address nearly half of the approximate $600 billion total addressable global plastics market. Despite global regulatory and political pressures for eco-friendly solutions, green plastics currently have less than 2% market penetration.
Business combination implies a pre-money enterprise value of $365 million (pro forma EV of $433 million) on a cash-free and debt-free basis (excluding up to $365 million in performance-based earnouts shar
VPA of Houston recently began distributing Verde's PolyEarthylene-brand bioplastics in North America. Los Angeles-based Verde has made its materials at a plant in Fullerton, Calif., since 2019.