Reposted from: Shanghai Changning
Plastic-free cups, when heated, do not generate toxic substances and are microwave-safe,' introduced Mr. Eugene, Chairman of G-COVE, a company located in the Changning Aerospace Park. Currently, this product has been adopted by several world-renowned international restaurant chains and received significant attention, securing numerous potential orders during this year's International Import Expo (CIIE) in Shanghai.As per our understanding, Mr. Eugene, a Malaysian-Chinese entrepreneur with multiple successful ventures, is the founder of G-COVE. The company, established in Hong Kong as FOOTPRINT ASIA on December 14, 2017, and headquartered in Shanghai, recently completed a rebranding initiative this year. It now operates under the new name 'G-COVE Technology Group Co,LTD.' (hereinafter referred to as G-COVE), focusing on the creation of a circular economy.As of June 2023, G-COVE holds over 180 patents, including inventions, copyrights, and designs. The company has engaged in partnerships with numerous Fortune 500 enterprises, establishing itself as a global benchmark in the field of plant-based fiber plastics alternatives. Recognitions and honors received by G-COVE include being listed among Fortune Magazine's Change the World 50, recognition as a Hurun Unicorn Enterprise, CNBC's Disruptor 50, BIG Global Innovation Award, and the Seal Award.
"Our vision is to replace plastics in the future. How closely intertwined is plant fiber with our lives? We have been using egg trays made from plant fibers for decades.
With a firm belief in the environmental industry, G-COVE has chosen to enter the path of pulp molding. Pulp molding, also known as 'Plant Fiber Molding Products,' stands out from traditional plastic packaging as it can naturally degrade, compost, and be recycled, completely decomposing in the soil within 3 to 6 months.
Founder and Chairman of G-COVE, Mr. Eugene In the six years since its establishment, G-COVE has undertaken a series of innovations in material science, process development, equipment technology, and product design.
Regarding raw materials, the company currently not only utilizes bamboo but also taps into other abundant natural resources such as hemp, reeds, as well as industrial waste like bagasse and coffee grounds, and agricultural waste like straw, chrysanthemum stems, and rose stems. Mr. Eugene shared with reporters, 'We need to use more agricultural waste or more raw materials that have not been developed for our products.' Currently, products customized for international renowned brands use various flower stems in their packaging, and domestically well-known brands' floral pastry packaging will also incorporate rose stems sourced locally in Yunnan, combining environmental friendliness with creativity.
Pulp Molding Industrial Packaging In terms of technology and equipment, G-COVE's equipment and molds are independently developed, utilizing fully automated machinery to replace traditional manual processes, ensuring high-quality and large-scale production for orders. The company goes beyond being just a material provider; it has established a complete industry chain, including the Fiber Extraction System (FES), Develop Environmentally Friendly Smart Equipment (IOT), product manufacture, logistics supply chain, and the Biological Waste Processor Technology (BWP) sustainable ecological cycle system. This comprehensive approach reduces costs, making more people willing to choose pulp molding products over plastic.
Pulp Molding Food Packaging dedicated to replacing plastic with plant fibers, G-COVE can currently produce one-piece molded, waterproof, oil-resistant, and heat-resistant plant fiber products. Their innovative process ensures that paper fiber performs as robustly as plastic. The product range includes two major series: Food Packaging and Industrial Packaging. Food Packaging comprises items such as fast food containers, frozen food trays, supermarket trays, ready-to-eat food containers, durable storage containers, cup lids, straws, agricultural products, and consumer goods. Industrial Packaging covers products for 3C electronics, fast-moving consumer goods, cosmetics, household appliances, fresh produce, eggs, and packaging for coffee and milk tea shops.
G-COVE continually innovates in product design, providing customers with differentiated solutions. Their products, such as a PIZZA box that is microwave and oven-safe, or a snack tray used at a basketball game in the United States, showcase creativity and functionality. Both products have received patents for inventions and industrial design, and the company has been recognized with the Red Dot Design Award.
Since its establishment, G-COVE has eliminated six million tons of plastic, contributing to a reduction of over ten million tons of carbon dioxide emissions.
In the context of the 'Dual Carbon' and 'Plastic Ban,' a broad prospect emerges.
This year marks G-COVE's first participation in the Expo, and the entire journey can be described as 'exceeding expectations.'
As the only plant-based environmental packaging company at the exhibition, the company gained significant attention from domestic and international clients. They engaged with over a hundred potential clients, holding in-depth discussions with more than sixty of them. Concurrently, G-COVE also participated in a themed promotion session titled 'Gathering at Hongqiao, Winning the Future' and was involved in the centralized signing of key projects.
This success can be attributed to the impact of policies like 'Dual Carbon' and 'Plastic Ban' on the industry. China has set the 'Dual Carbon' goal, aiming to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060. Scientists propose limiting global warming to 1.5 degrees Celsius, requiring a 50% reduction in global emissions by 2030 and achieving net-zero emissions by 2050. China has repeatedly issued 'Plastic Ban' policies, and economies like the EU and the US have also implemented relevant bans.
This presents a great opportunity for the environmental materials packaging industry and the entire environmental sector. According to the market research firm Grand View Research, the global market size of pulp molding packaging was approximately $5.11 billion in 2022, and it is expected to grow at a compound annual growth rate (CAGR) of 7.60% from 2023 to 2027 as the penetration rate of pulp molding products into the plastic product market continues to rise.
Precise Product Performance Testing Equipment, G-COVE through the application of plant fiber technology, designs, develops, and manufactures revolutionary solutions to eliminate single-use plastics. From the initial order of $32 to its status as an international group, the company is poised for rapid growth next year and is expected to enter the secondary market within the next 3-5 years.
G-COVE Partial Patent Certificates as a leading supplier of plant fiber products, G-COVE has production bases, research and development centers, and sales centers in 19 countries and regions worldwide. In China, the company has 26 factories, including 6 direct investment factories and 20 cooperative factories, to rapidly meet the global customer demands through an intelligent supply chain. Previously, the company primarily supplied products to Fortune 500 companies. Starting in 2022, with the increasing environmental awareness in the domestic market, the demand for environmentally friendly products has been steadily rising, attracting numerous well-known domestic brands and benchmark enterprises as clients."
G-COVE Factory Overview
G-COVE has a profound connection with Changning, having established an office long before setting up its Asian headquarters. Changning boasts a well-developed innovation service system and supportive measures for enterprises, attracting a diverse pool of talents, especially those with an international background. Chairman Mr. Eugene, being of Malaysian Chinese descent, brought in a group of Malaysian students to work for the company. Changning has actively pursued the green and low-carbon path, showing strong support for the environmental protection and technology industry. It has also become a hub for numerous foreign enterprises, especially regional headquarters of multinational corporations, facilitating communication with potential clients. By having its headquarters in Changning, the company finds it convenient to expand its business and collaborations nationwide and globally.
Mr. Eugene emphasizes, " We hope to make consumers understand that 'packaging is the last mile of plastic reduction,' and G-COVE consistently adheres to scientific principles in unveiling sustainable development. "
G-COVE
general@g-cove.com
