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Amazon Invests in Female-Led Bioplastics Company

Founded by scientist Luna Yu, Genecis uses organic waste to create PHA bioplastics that can be used as an alternative to conventional plastic packaging.

Luna Yu, founder and CEO of Genecis (l.), and Phoebe Wang, investment partner and head of the Female Founder Initiative, Amazon.
Luna Yu, founder and CEO of Genecis (l.), and Phoebe Wang, investment partner and head of the Female Founder Initiative, Amazon.

As part of its commitment to support women climate tech entrepreneurs, Amazon’s Climate Pledge Fund is investing in Genecis, a bioplastics company founded by scientist Luna Yu. Genecis uses organic waste, like table food scraps, to create a biodegradable bioplastic, PHA (polyhydroxyalkanoate), that ca be used as an alternative to conventional plastic packaging.

The Climate Pledge Fund, which invests in climate tech companies developing innovations that help address global warming, recently announced its Female Founder Initiative to invest $50 million in women-founded and women-led climate tech companies. The program also invests money in incubators and accelerators that support women entrepreneurs, and it’s designed to help address the gender-equity funding gap that currently exists for women in climate tech. Says Amazon, women founders and their companies often receive a fraction of the venture capital funding—less than 3%, according to Pitchbook

Yu, who founded Genecis at the age of 21, is the first woman CEO to receive investment support through the Female Founder Initiative. Genecis is also the fund’s first investment in a company directly addressing the use of fossil fuel-derived plastics and the global warming factors they contribute to. 


Read article   Read about Amazon’s investment in CMC Machinery, a producer of machinery for custom-size boxes.

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