Amcor investment in PulPac fiber technology to accelerate global deployment of innovative paper packaging

ZURICH,Nov. 8,2022 -- Amcor (NYSE: AMCR,ASX:AMC),a global leader in developing and producing responsible packaging solutions,has announced its investment of US$3 million in PulPac,a Swedish company providing disruptive manufacturing technology for low-cost,high-performance fiber-based packaging. Amcor is one of several strategic investors in a cross-industry alliance aimed at driving the deployment of PulPac's technology globally.

PulPac is a pioneering,innovation-led company focused on developing its dry-molded fiber technology for use as a viable,sustainable option for the packaging industry. This solution uses raw materials readily found globally,manufactured using an innovative process that requires significantly less resources,which reduces CO2 emissions by 80%,compared to existing processes. This cross-industry investment will support PulPac's global commercialization ambitions,enabling the company to deploy its solutions across markets and provide the potential for applications in Amcor's own product ranges.

The alliance with PulPac and investment into its fiber technology also follow the launch of the AmFiberTM platform earlier this year,through which Amcor aims to redefine the capabilities of traditional paper packaging,and build upon Amcor's extensive experience in paper and carton packaging.

Frank Lehmann,vice president of Corporate Venturing and Open Innovation at Amcor,said: "Amcor is committed to developing solutions that meet the needs of our customers,consumers and the environment. Amcor's investment in PulPac will help to accelerate the global rollout of this innovative technology,and well as support research into its suitability for future applications.

Using PulPac's dry-molded fiber technology,the shape of products can be optimized for a wide variety of applications,including some that have traditionally not been able to employ a viable sustainable option.

Linus Larsson Green,co-founder and CEO of PulPac,said: "With the backing and support of such world-class partners including Amcor,we'll continue to grow our offering and deploy our new packaging across the world. I look forward to working more with our partners and,through collaboration,providing solutions that are more sustainable."

Amcor is engaged in multiple start-up investment opportunities,supporting their journeys through the sharing of expertise from Amcor's own research and development teams,and exploring the potential for joint undertakings. Recent activity includes strategic investments into ePac Flexible Packaging and PragmatIC Semiconductors,together with seed-funding for two start-ups – Nfinite Nanotechnology and Bloom Biorenewables Ltd – as part of the Amcor Lift-Off initiative,through which seed-stage start-up companies can secure investment of $250,000 toward the development of innovative and sustainable technologies.

To learn more about Amcor's corporate venturing,click here.

About Amcor

Amcor is a global leader in developing and producing responsible packaging solutions for food,beverage,pharmaceutical,medical,home and personal-care,and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them,differentiate brands,and improve supply chains through a range of flexible and rigid packaging,specialty cartons,closures,and services. The company is focused on making packaging that is increasingly lighter weight,recyclable and reusable,and made using an increasing amount of recycled content. In fiscal year 2022,44,000 Amcor people generated $15 billion in annual sales from operations that span 220 locations in 43 countries. NYSE: AMCR; ASX: AMC

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About PulPac

PulPac provides the packaging industry with a groundbreaking manufacturing technology for low-cost,high-performance fiber-based packaging and single-use products. By pioneering the technology of cellulose molding,PulPac enables its customers to replace single-use plastics with a sustainable and cost-competitive alternative globally.For additional information about PulPac,please visit www.pulpac.com.

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