Business combination should allow scaled

Jun 12, 2023

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The $600-billion global plastics market is under increasing regulatory pressure to adopt more sustainable solutions, but currently, most options presented not only cost adopters more money but require special manufacturing processes.

Enter Verde Bioresins Inc. (Verde), a forward-thinking company that has developed PolyEarthylene™, a proprietary bioresin that is derived from renewable and sustainable sources. Verde touts itself as the only company to develop bioresin that can use the same manufacturing facilities and is at the same price point as typical plastics. It is biodegradable, industrial compostable, and post-consumer-recycled certified, making it an eco-friendly alternative to conventional plastics. It seamlessly fits into existing production processes and utilizes current infrastructure.

Additionally, Verde has now secured the funding needed to start scaling up production of PolyEarthylene™.

This week, TLGY, a publicly traded special purpose acquisition company, announced the filing of a registration statement on Form S-4 with the U.S. Securities and Exchange Commission, in connection with the proposed business combination with Verde.

Upon closing of the proposed business combination, the combined company is expected to list its common stock and warrants on Nasdaq under the new ticker symbols “VRDE” and “VRDEW,” respectively.

Brian Gordon, Chairman of Verde Bioresins, said, “We believe this business combination will further increase our contribution to the global transition to a more sustainable, circular economy, while creating shareholder value.”

Verde has pioneered and continues to advance PolyEarthylene resins for a diverse array of packaging applications spanning various industries:

Large Electronics and Computer Hardware Companies:

Verde's collaboration with these industry giants encompasses electrostatic dissipative and antistatic films, along with thermoform packaging materials. Notably, they're delving into foam packaging and injection molding solutions, enhancing the durability and functionality of products.

Large Food & Beverage, Confectionery, and Agriculture Product Companies:

Verde's impact is profound in this sector, where they're engaged in crafting refrigerated, frozen, and microwavable films. Their contributions extend to creating thermoform materials for bowls and trays, as well as injection molding containers, caps, and closures – all designed to meet FDA Title 21 Food Contact compliance standards. Furthermore, their exploration of extruded tubes and bio-based landfill biodegradable coatings on paper showcases their commitment to sustainability.

Large Cosmetics and Consumer Products Companies:

Verde's collaboration with these companies spans an array of PolyEarthylene solutions – from film and bags to thermoform trays and blow-molded bottles. Their injection-molded caps, closures, and the development of bio-based landfill biodegradable coatings on paper highlight their dedication to environmentally friendly innovations. The scope also extends to crafting PolyEarthylene resins for injection-molded silverware, thermoform plates, and cups, including straw applications.

Large Shipping and Packaging, and Bag Application Companies:

Verde's influence is tangible in this sector, as they create PolyEarthylene shipping envelope-style bags, product mailing bags, and a range of bags – from T-shirts and clothing to trash and zip-style bags. Their commitment to sustainability caters to reusable, recyclable, and landfill biodegradable applications. Additionally, their exploration of foam packaging materials underscores a comprehensive approach to packaging solutions.

Verde's innovative efforts in developing PolyEarthylene resins have brought transformative changes to multiple industries. Their collaborations with prominent companies underscore their commitment to sustainable innovation, while their broad applications showcase the potential of this advanced material.