00:00:20.787 --> 00:00:23.990
The plastic problem
is so massive, sometimes it's

00:00:23.990 --> 00:00:27.861
hard to wrap your head around
just how big of a problem it is.

00:00:28.128 --> 00:00:31.631
But in 2020 alone, over
360 million

00:00:31.631 --> 00:00:34.567
metric
tons of plastic were produced.

00:00:34.567 --> 00:00:38.304
Over 79% of that massive
360 million

00:00:38.304 --> 00:00:41.841
metric tons
never get recycled, 79%.

00:00:42.208 --> 00:00:44.611
So where does that plastic
end up?

00:00:44.611 --> 00:00:47.213
Well, a lot of it
ends up in our oceans.

00:00:47.447 --> 00:00:51.051
Over 14 million tons of it went
to the ocean this year alone.

00:00:51.718 --> 00:00:54.988
It would be crazy to imagine
a human on planet Earth

00:00:54.988 --> 00:00:58.191
that has not seen plastic
on a beach or a shoreline.

00:00:59.292 --> 00:01:00.760
It's scary to think of

00:01:00.760 --> 00:01:04.164
a world where there's more
plastic in the ocean than fish,

00:01:04.497 --> 00:01:07.600
which is what the UN
anticipates might happen by 2050

00:01:07.801 --> 00:01:11.438
if we don't solve this problem
rapidly.

00:01:12.272 --> 00:01:13.907
Loliware is on a mission
to advance

00:01:13.907 --> 00:01:16.042
the planet
towards a plastic free future.

00:01:16.042 --> 00:01:18.244
We're an advanced
materials science company,

00:01:18.244 --> 00:01:21.181
transforming seaweed
into new plastic replacements.

00:01:21.181 --> 00:01:22.982
We are trying to disrupt

00:01:22.982 --> 00:01:26.519
the plastics industry
with a seaweed solution

00:01:26.519 --> 00:01:29.222
that is fully natural
and biodegradable.

00:01:29.923 --> 00:01:32.859
In the United States alone,
we use over

00:01:32.859 --> 00:01:35.728
500 million
plastic straws per day.

00:01:36.496 --> 00:01:39.933
That's over
470 billion worldwide per year.

00:01:40.233 --> 00:01:41.768
There's a big problem.

00:01:41.768 --> 00:01:44.737
So starting with a straw
replacement

00:01:44.737 --> 00:01:47.006
was a pretty logical place
to start.

00:01:47.273 --> 00:01:49.375
We're really excited
about this new future

00:01:49.375 --> 00:01:51.678
because we believe fundamentally

00:01:51.845 --> 00:01:53.546
that plastic is overengineered.

00:01:53.546 --> 00:01:56.816
A plastic straw
will outlive humans.

00:01:56.816 --> 00:01:58.017
A plastic straw

00:01:58.017 --> 00:02:01.154
will last for centuries
and persist in the environment

00:02:01.154 --> 00:02:02.755
for hundreds of years,

00:02:02.755 --> 00:02:06.092
whereas our straws
break down in 30 days.

00:02:06.092 --> 00:02:07.794
But we're not a straw company.

00:02:07.794 --> 00:02:09.629
We're a materials technology
company.

00:02:09.629 --> 00:02:13.166
Our reason for existing
is to create seaweed materials

00:02:13.166 --> 00:02:14.834
that we can rapidly proliferate

00:02:14.834 --> 00:02:16.870
to replace
any single use plastic.

00:02:16.870 --> 00:02:20.907
We work with seaweed
and other ocean based materials

00:02:20.907 --> 00:02:21.975
that are natural

00:02:21.975 --> 00:02:24.944
and often waste product
from the fishing industry.

00:02:24.944 --> 00:02:27.413
Our Chief Technology Officer
and our team of scientists

00:02:27.413 --> 00:02:28.815
and engineers
have really cracked

00:02:28.815 --> 00:02:31.050
the code on seaweed,
and understanding

00:02:31.417 --> 00:02:35.355
the biochemistry,
the seaweed biology of the plant

00:02:35.588 --> 00:02:38.158
and how to leverage
its superpowers

00:02:38.158 --> 00:02:40.960
to really allow it to compete
with plastic at scale.

00:02:41.528 --> 00:02:45.098
We transform ocean farmed
seaweed into seaweed pellets,

00:02:45.098 --> 00:02:48.001
which can be manufactured
on existing plastic equipment.

00:02:48.768 --> 00:02:52.338
Those pellets can be transformed
into any single use

00:02:52.338 --> 00:02:53.573
plastic replacement.

00:02:53.573 --> 00:02:57.710
So imagine straws, cups,
lids, clamshells, films.

00:02:58.011 --> 00:03:00.914
We want to just sell
our revolutionary bio polymer

00:03:00.914 --> 00:03:03.449
to many different manufacturers
throughout the country

00:03:03.449 --> 00:03:05.318
who want to use it for any need.

00:03:06.286 --> 00:03:09.522
My role is managing
the manufacturing partners,

00:03:09.522 --> 00:03:12.592
so that starts
with raw material supply.

00:03:12.592 --> 00:03:16.095
So our various seaweed suppliers
from all over the world

00:03:16.095 --> 00:03:19.265
and other ingredients
from the United States.

00:03:19.265 --> 00:03:21.100
Managing those processes

00:03:21.100 --> 00:03:24.971
into our compounding facility,
which is in Wisconsin.

00:03:24.971 --> 00:03:27.707
That's where we turn
our material into pellets.

00:03:27.707 --> 00:03:30.476
We now have the technology,
and we're getting to a place

00:03:30.476 --> 00:03:32.612
where we can actually replace
plastic at scale.

00:03:32.612 --> 00:03:35.248
And then this year we'll also
launch a second product,

00:03:35.248 --> 00:03:38.651
which is the first ever seaweed
based utensil set.

00:03:39.552 --> 00:03:42.789
A big part of what we had to
figure out was not just

00:03:42.789 --> 00:03:43.690
the material science,

00:03:43.690 --> 00:03:45.525
but also the engineering
and the processing.

00:03:45.525 --> 00:03:48.528
You've got to have both
because you have to know

00:03:48.528 --> 00:03:51.064
how to process the seaweed,
what temperature,

00:03:51.064 --> 00:03:54.834
what speed, what pressure
and all of that comes into play.

00:03:54.834 --> 00:03:56.436
When you consider actually

00:03:56.436 --> 00:03:58.204
being able
to have a viable solution.

00:03:59.372 --> 00:04:01.741
I wanted
to work on something exciting

00:04:01.741 --> 00:04:03.409
like a renewable process,

00:04:03.409 --> 00:04:06.045
something that hasn't been done
before.

00:04:06.045 --> 00:04:09.115
We did all of the necessary
development testing.

00:04:09.115 --> 00:04:10.250
We figured out the best way

00:04:10.250 --> 00:04:13.253
to make a pellet to then use
on regular extraction equipment.

00:04:13.253 --> 00:04:17.924
And so really it was quite easy
going to manufacturers and say,

00:04:17.924 --> 00:04:19.492
hey, we have this new product

00:04:19.492 --> 00:04:21.294
that we want
you guys to start implementing.

00:04:21.294 --> 00:04:22.795
It's not difficult to use.

00:04:22.795 --> 00:04:23.730
We produce

00:04:23.730 --> 00:04:25.531
our pellets
on the same machinery

00:04:25.531 --> 00:04:27.533
that plastic pellets
are created.

00:04:27.533 --> 00:04:29.135
It actually uses less energy

00:04:29.135 --> 00:04:31.004
because the machines
are running a lot cooler

00:04:31.004 --> 00:04:33.006
than they would
for regular plastic.

00:04:33.006 --> 00:04:35.842
We can be implemented
on any kind of machine

00:04:35.842 --> 00:04:38.044
in any facility
throughout the world.

00:04:38.044 --> 00:04:41.648
So instead of creating a
technology which requires custom

00:04:41.648 --> 00:04:44.684
infrastructure or custom
manufacturing equipment,

00:04:44.684 --> 00:04:45.885
we're collaborating.

00:04:45.885 --> 00:04:49.088
So in a way it's disruptive,
but it's also collaborative.

00:04:49.088 --> 00:04:51.224
We call
it disruptive collaboration.

00:04:53.226 --> 00:04:54.661
I was born and raised in Hawaii.

00:04:56.162 --> 00:04:58.598
As I was growing up,
I knew that there was a problem

00:04:58.598 --> 00:05:01.167
with the Hawaiian shorelines
becoming covered in plastic.

00:05:02.468 --> 00:05:04.470
I was fascinated by why

00:05:04.470 --> 00:05:06.773
they were overengineered
to last forever

00:05:06.773 --> 00:05:08.841
when we only needed
to use them for moments.

00:05:08.841 --> 00:05:10.310
And so when I went to college,

00:05:10.310 --> 00:05:13.513
I became very interested
in solving this problem.

00:05:13.513 --> 00:05:15.415
I was always very fascinated

00:05:15.415 --> 00:05:17.450
by harnessing
the power of engineering

00:05:17.450 --> 00:05:19.419
and design
to solve global problems.

00:05:19.419 --> 00:05:21.087
I learned about an incredible
field

00:05:21.087 --> 00:05:22.922
of study
called Social Innovation,

00:05:22.922 --> 00:05:26.326
which is essentially leveraging
design engineering to solve

00:05:26.326 --> 00:05:29.562
global problems that impact
a billion people or more.

00:05:30.330 --> 00:05:33.966
When I first started Loliware
I had to create a first product

00:05:33.966 --> 00:05:37.303
to show the world that
this future is even possible,

00:05:37.303 --> 00:05:41.240
that seaweed can compete
with plastic at scale,

00:05:41.240 --> 00:05:44.644
on performance, and even at cost
right because you need all three

00:05:45.144 --> 00:05:47.580
Our partnership with Sinclair
and Rush came about

00:05:47.580 --> 00:05:51.417
through a mutual
investor who introduced us.

00:05:51.818 --> 00:05:53.453
We were at the time looking

00:05:53.453 --> 00:05:57.390
for a USA based manufacturer
to manufacture the straws.

00:05:57.390 --> 00:05:58.758
We shipped them some pellets,

00:05:58.758 --> 00:06:01.561
which they ran on their existing
plastic straw line.

00:06:01.928 --> 00:06:05.765
On the first run, we got to
nearly 100% success rate.

00:06:07.900 --> 00:06:09.535
We are a plastics

00:06:09.535 --> 00:06:11.738
manufacturing
company, multinational.

00:06:12.638 --> 00:06:14.841
So we have five
different operations in the U.S.

00:06:15.375 --> 00:06:18.544
We have two in the U.K.,
one in China, one in Australia.

00:06:18.811 --> 00:06:20.813
Our customer base
probably exceeds

00:06:20.813 --> 00:06:22.915
20,000 customers
around the world.

00:06:22.915 --> 00:06:26.152
We make a lot of single use
plastic products

00:06:26.152 --> 00:06:29.188
that is used once
and thrown away.

00:06:29.188 --> 00:06:33.025
If we can use a product that is
compostable, biodegradable.

00:06:33.593 --> 00:06:36.262
We can use that in place
of those single use items.

00:06:36.763 --> 00:06:39.332
We're hearing more
and more from our customer base

00:06:39.332 --> 00:06:42.168
that they want
a greener product,

00:06:42.535 --> 00:06:44.804
they want a more sustainable
product.

00:06:44.804 --> 00:06:47.807
The expansion capabilities
and potential

00:06:48.508 --> 00:06:50.676
of Loliware, it's unlimited.

00:06:51.711 --> 00:06:52.578
As a CEO of a

00:06:52.578 --> 00:06:55.381
privately owned company,
we can move much quicker.

00:06:55.982 --> 00:06:57.850
We're very fortunate
because our two families

00:06:57.850 --> 00:07:00.219
that own our company
have a very green outlook

00:07:00.219 --> 00:07:02.288
and they want our company
to be around.

00:07:02.288 --> 00:07:05.591
And they know,
we know that the only way to do

00:07:05.591 --> 00:07:08.861
that is to become a greener
company.

00:07:08.861 --> 00:07:11.197
You just have to keep looking.
Can't stop innovating.

00:07:11.197 --> 00:07:13.533
If you don't, you're going
to miss out on opportunities.

00:07:13.533 --> 00:07:15.368
You can go on and on
and on that companies

00:07:15.368 --> 00:07:17.804
didn't have the foresight
to look ahead

00:07:17.804 --> 00:07:21.007
and consider other options
within their business model

00:07:21.007 --> 00:07:23.443
and open up their business model
to consider those options.

00:07:23.843 --> 00:07:25.211
They're not around anymore.

00:07:26.078 --> 00:07:28.347
A year ago, we didn't know
anything about Loliware

00:07:28.347 --> 00:07:29.449
and here they are.

00:07:29.449 --> 00:07:31.417
We're seeing opportunities
in our business

00:07:31.417 --> 00:07:33.686
to integrate their product
into several

00:07:33.686 --> 00:07:35.855
of our product lines
and into our customer base.

00:07:36.289 --> 00:07:38.424
So fast forward
almost a year later.

00:07:38.758 --> 00:07:42.528
We're now producing 130 million
straws per line

00:07:42.528 --> 00:07:44.564
per year at Sinclair and Rush,

00:07:44.564 --> 00:07:46.632
and we're already partnered
on the second product.

00:07:47.500 --> 00:07:50.169
With any new to world technology
it's best to start

00:07:50.169 --> 00:07:51.671
in a controlled manner.

00:07:51.671 --> 00:07:53.940
So now we've got Sinclair
and Rush up and running.

00:07:53.940 --> 00:07:55.842
They've got nine factories
globally.

00:07:55.842 --> 00:07:57.276
We'll expand with them.

00:07:57.276 --> 00:08:00.947
We anticipate a very fast ramp
up in growth year as we begin

00:08:00.947 --> 00:08:05.251
to license our pellets to 10,000
manufacturers worldwide.

00:08:06.752 --> 00:08:09.021
Through
the lens of design, engineering

00:08:09.021 --> 00:08:09.989
and materials science.

00:08:09.989 --> 00:08:12.825
I began to look at this material
a little bit differently.

00:08:13.092 --> 00:08:15.561
It's elastic.
It's got incredible properties.

00:08:15.561 --> 00:08:17.630
It's fast
growing, it's regenerative.

00:08:17.864 --> 00:08:20.132
It captures a ton of carbon.

00:08:20.132 --> 00:08:22.869
You can use the naturally
occurring polymers.

00:08:23.202 --> 00:08:26.439
It heals the ocean as it grows
by oxygenating the ocean

00:08:26.439 --> 00:08:27.740
and reducing acidification.

00:08:27.740 --> 00:08:30.176
It's a climate change
fighting hero.

00:08:30.443 --> 00:08:34.614
So Loliware is certainly
thinking about circularity

00:08:34.614 --> 00:08:35.848
from start to finish.

00:08:35.848 --> 00:08:38.150
As the seaweed grows,
it's capturing carbon,

00:08:38.384 --> 00:08:40.019
that gets transformed
into the pellets,

00:08:40.019 --> 00:08:43.956
the pellets are processed on
existing plastic infrastructure

00:08:44.156 --> 00:08:45.558
to form a finished good.

00:08:45.558 --> 00:08:49.395
That beautiful seaweed straw
goes to a coffee shop or a cafe.

00:08:49.395 --> 00:08:51.297
The customer uses the straw.

00:08:51.297 --> 00:08:55.635
That straw goes back to
the earth as soil, as compost.

00:08:55.635 --> 00:08:56.969
If it ends up in the ocean,

00:08:56.969 --> 00:08:58.938
it doesn't have any
negative impact.

00:08:58.938 --> 00:09:01.073
It's like seaweed
going back to its home.

00:09:03.609 --> 00:09:06.279
Many traditional
plastics production companies

00:09:06.279 --> 00:09:09.448
are used
to using their polyethylene,

00:09:09.448 --> 00:09:12.518
their polypropylene
and are skeptical to change it

00:09:12.518 --> 00:09:13.920
to a biodegradable material.

00:09:13.920 --> 00:09:16.989
The goal is to have a product
that is comparable

00:09:16.989 --> 00:09:19.959
to the cost
of a plastic product.

00:09:22.028 --> 00:09:24.931
New legislation
that is banning many single use

00:09:24.931 --> 00:09:27.333
plastics
is actually opening up the door

00:09:27.333 --> 00:09:31.037
for many biopolymer companies
because of legislation

00:09:31.037 --> 00:09:33.005
throughout the world
and in the United States.

00:09:33.005 --> 00:09:36.809
And the social impact
of a company

00:09:37.276 --> 00:09:39.545
spending the extra dollar
on something

00:09:39.545 --> 00:09:42.448
that's more sustainable
seems to be where we're headed.

00:09:42.448 --> 00:09:44.550
So there's
a lot of global corporates

00:09:44.550 --> 00:09:48.688
that have made pledges to go
plastic free by using fully

00:09:48.688 --> 00:09:51.591
compostable materials or fully
recyclable technologies.

00:09:52.692 --> 00:09:54.961
Ever since the fifties
when we started

00:09:54.961 --> 00:09:56.729
actually
using single use plastic,

00:09:56.729 --> 00:09:58.297
we're just using more
and more every year.

00:09:58.297 --> 00:10:01.534
And and many experts think
we're not going to slow down.

00:10:02.368 --> 00:10:05.371
One of Loliware's goals
is to send the plastic business

00:10:05.371 --> 00:10:07.773
on the path of carbon
neutrality.

00:10:07.773 --> 00:10:11.143
If we can help to change
the plastics industry

00:10:11.143 --> 00:10:12.745
into a carbon neutral one,

00:10:12.745 --> 00:10:16.482
that would be the perfect
outcome. Because our societies

00:10:16.482 --> 00:10:18.517
are attached
to single use plastic

00:10:18.517 --> 00:10:20.553
we need to shift the way

00:10:20.553 --> 00:10:22.555
we're making single use
plastic immediately.

00:10:22.555 --> 00:10:24.156
So the urgency is there.

00:10:24.156 --> 00:10:25.191
We need to make sure

00:10:25.191 --> 00:10:27.126
that we are
providing the consumer

00:10:27.126 --> 00:10:28.527
with something
that they're used to,

00:10:28.527 --> 00:10:31.397
but is going to be beneficial
to the environment.

00:10:31.731 --> 00:10:36.469
Our long term goals as a company
are to capture a ton of carbon

00:10:36.469 --> 00:10:37.370
from the atmosphere

00:10:37.370 --> 00:10:40.106
by proliferating seaweed
supply chains globally

00:10:40.573 --> 00:10:43.442
and to build livelihoods
in coastal communities

00:10:43.809 --> 00:10:45.845
to create a new economy
around seaweed.

00:10:46.579 --> 00:10:47.980
We need climate solutions.

00:10:47.980 --> 00:10:49.915
And so when I wake up
in the morning,

00:10:49.915 --> 00:10:53.452
I feel this sense of urgency
and I feel like I have a purpose

00:10:53.452 --> 00:10:54.220
on the planet.

00:10:54.220 --> 00:10:57.189
And that purpose right now is to
replace plastic with seaweed.