Footprint (company)
 | |
| Founded | 2014 |
|---|---|
| Founders |
|
| Headquarters | Gilbert, Arizona, U.S. |
Key people | Troy Swope (CEO) |
| Website | www |
Footprint is a materials science organization that engineers fiber-based packaging in an effort to address the environmental crisis of plastic pollution.[1][2] Its plant-based fiber alternatives to plastic are made from sources like double-lined kraft.[3] These can be compostable, biodegradable, and recyclable.[2] Footprint operates in the United States, Europe and Mexico.[3][4]
History
[edit]Footprint was founded by Troy Swope, a former engineer at Intel, who became an "accidental environmentalist."[1] Swope saw that outgassing was damaging Intel's products and thought that plastic food packaging might have the same issue outgassing on food.[5] Troy and Footprint co-founder Yoke Chung founded Footprint in 2014.[1][3][2]
As of 2020, Footprint has factories in the United States and Mexicali, Mexico, with around 1,500 employees.[3] Its main base is in Gilbert, Arizona, which houses a 135,000 square foot complex.[6][7]
In 2021, Footprint was named a CNBC Disruptor 50 company.[8]
In December 2021, Footprint and Gores Holdings VIII, Inc. announced a merger acquisition that will result in Footprint becoming a publicly listed company. It is expected to list on NASDAQ under the ticker symbol "FOOT."[9] The following September saw its valuation cut as part of an amended merger deal, but with an upsized investment, following delays in its public listing due to macroeconomic environment.[10]
In 2021, Footprint founders Troy Swope and Yoke Chung were named to Newsweek's list of America's Greatest Disruptors: Planet Protectors.[11]
Activities
[edit]Footprint's products are made from materials including double-lined kraft and newsprint.[3] The organization uses things like recycled cardboard boxes, agricultural waste and virgin wood fibers to create biodegradable packaging.[2][5] It owns around 240 patents for containers that can keep food safe, including packaging meant for shelves and those that can be frozen for 180 days.[3][2] In the wake of plastic straw bans, Footprint makes a compostable paper straw.[12][13]
Research on turtle behavior
[edit]Footprint supports the research of Christine Figgener, a marine conservation biologist who documents turtle behavior and has investigated the effect of plastics pollution on their natural habitat.[12] Her video showing a turtle with a straw stuck in its snout garnered 37 million views as of September 2019, which raised awareness of the crisis.[12][14]
Transition from plastics to alternatives
[edit]Footprint has supported Conagra Brands transition from plastic products to fiber bowls.[3][15] Footprint has developed fiber-based plastic alternatives for Philips, Bose, Target, and Foxconn.[3] Sweetgreen has switched to bowls designed by Footprint.[16]
Sports
[edit]Food service items for the Super Bowl LIV were supplied by Footprint.[1] These included more than 100,000 plates, bowls, cups, hot dog boards, and straws.[2][17] Coolers designed by Footprint used in the Super Bowl LIV were biodegradable.[3][18]
In July 2021, Footprint and the Phoenix Suns announced a naming rights partnership for Footprint Center. As part of the partnership, Footprint Center will eliminate single-use plastic from the arena.[19][20]
NextGen Cup Challenge
[edit]In 2018, Footprint joined Starbucks, McDonald's, Coca-Cola Company, Yum Brands, Wendy's, and Nestlé in the NextGen Cup Challenge, which sought to identify an optimal cup design that was recyclable.[3][21] Footprint's entry was called CoolTouch and debuted during Climate Week.[3]
European Expansion
[edit]In Sept. 2021, Footprint announced plans for a European R&D center in the Netherlands that will also serve as the company's European headquarters.[4]
References
[edit]- ^ a b c d Schlossberg, Tatiana (27 May 2020). "Tired of Plastic? These Businesses Have Ideas for You". The New York Times. Retrieved May 27, 2020.
- ^ a b c d e f Morris, Amanda. "Arizona company fights plastic pollution at Super Bowl LIV with eco-friendly alternatives". USA TODAY. Retrieved Jan 30, 2020.
- ^ a b c d e f g h i j k Rainey, Clint (10 March 2020). "Footprint is proving that sustainability can scale". Fast Company. Retrieved Mar 10, 2020.
- ^ a b Blye, Andy. "Gilbert's Footprint to establish European HQ, R&D center in the Netherlands". www.bizjournals.com. Retrieved Sep 10, 2021.
- ^ a b Clifford, Catherine (4 June 2021). "How this ex-Intel boss became an 'accidental environmentalist' fighting to eliminate single-use plastics". CNBC. Retrieved Jun 4, 2021.
- ^ Phillips, Mark (21 February 2020). "Gilbert company contributes to Arizona's economic growth". KNXV. Retrieved Feb 20, 2020.
- ^ Brown, Brandon. "Former Sprouts interim CEO hired by innovative Gilbert company". www.bizjournals.com. Retrieved Apr 3, 2020.
- ^ "These are the 2021 CNBC Disruptor 50 companies". CNBC. 25 May 2021. Retrieved May 25, 2021.
- ^ "Footprint to go public in $1.6 bln deal with Gores-backed SPAC". Reuters. 8 June 2022. Retrieved June 8, 2022.
- ^ Nishant, Niket (September 6, 2022). "Footprint valuation drops 38% after amended deal with Gores-backed SPAC". Reuters. Archived from the original on September 9, 2022.
- ^ "America's Greatest Disruptors Planet Protectors". Reuters. 8 June 2022. Retrieved June 8, 2022.
- ^ a b c Stevenson, Seth (12 September 2019). "How the Plastic Straw Got Canceled". Slate Magazine. Retrieved Sep 12, 2019.
- ^ "Gilbert recycling company Footprint wins challenge to reinvent cups". KTAR.com. 11 March 2019.
- ^ Estes, Christina (27 May 2019). "How A Sea Turtle Led An Arizona Company To Make Paper Straws". KJZZ. Retrieved May 28, 2019.
- ^ De Leon Chavez, Melissa (1 October 2020). "Conagra Brands Continues Progress Toward Sustainability Goals With New Products". Deli Market News. Retrieved Oct 1, 2020.
- ^ Peters, Adele (6 March 2020). "Sweetgreen is rolling out compostable bowls without any 'forever chemicals'". Fast Company. Retrieved Mar 6, 2020.
- ^ Morris, Amanda. "Arizona company fights plastic pollution at Super Bowl LIV with eco-friendly alternatives". The Arizona Republic. Retrieved Jan 29, 2020.
- ^ Parker, Thomas (31 January 2020). "What is Footprint US? The Super Bowl's official sustainability sponsor". NS Packaging. Retrieved Jan 31, 2020.
- ^ Young, Jabari (16 July 2021). "Phoenix Suns arena will be named Footprint Center in 'one of the most unique partnerships in sports'". CNBC. Retrieved Jul 16, 2021.
- ^ Newcomb, Tim. "Phoenix Suns Partner With Footprint On Arena Naming Rights And Elimination Of Plastic Waste". Forbes. Retrieved Jul 16, 2021.
- ^ McMahon, Xandra. "These 3 Companies Are Helping You Drink Responsibly (When It Comes To The Earth, Anyway)". Colorado Public Radio. Retrieved Sep 19, 2019.