Details

Last Funding Type

Grant

Last Funding Money Raised

$1.04M

Industries

Advanced Materials,Biotechnology,Innovation Management,Sustainability

Founded date

Jan 1, 2007

Number Of Employee

51 - 100

Operating Status

Active

Legal Name

Ecovative Design LLC.

Eben Bayer and Gavin McIntyre were fascinated by mushrooms growing on wood chips, and observing how the fungal mycelium strongly bonded the wood chips together. This inspired them to think of new ways of using mycelium as a resin. In a class at Rensselaer, called Inventor's Studio, they applied this new process for binding together insulating particles, creating Greensulate. Rather than just decreasing the environmental impact of conventional polystyrene foams, this invention creates a whole new paradigm where composite materials are literally grown, harnessing the incredible efficiency of nature.

Shortly after founding the company, they won small grants from the American Society of Mechanical Engineers (ASME) and the National Collegiate Inventors and Innovators Alliance (NCIIA). This funding was used to create initial samples of the material. This proof of concept enabled the company to win bigger grants from the New York State Energy Research and Development Authority (NYSERDA) and the Environmental Protection Agency (EPA) to further develop the products. Since then, Ecovative has won many more awards and grants that have enabled the company to continue to grow and accelerate the production of these revolutionary eco-friendly materials.

At Ecovative, we are passionate about sustainability. That is why we are working with nature to replace unsustainable plastics and foams with natural composites. Using innovative new materials and radical new technologies, our products perform at least as well as current state-of-the-art synthetics, but at a lower cost to both you and the environment.

Ecovative Design has acquired 1 organizations. Their most recent acquisition was Lambert Spawn on Dec 15, 2022. They acquired Lambert Spawn for 0.

Date Company Name	Industry	Acquisition Type	Price
Dec 15, 2022 Lambert Spawn	Food and Beverage	acquisition	—	Detail