Ecologic Closes Another Round of Venture Financing

Ecologic Brands (“Ecologic”), an ATEL Growth Capital company, has announced
that they have completed an additional round of financing of $7 million.
New investor Kruger Inc. (“Kruger”) was included in the financing round and
will become the exclusive licensee and manufacturer of Ecologic’s paper
bottle technology in Canada.”We are thrilled to partner with Ecologic, a company whose goal is to
provide differentiated and innovative sustainable packaging solutions to
consumers around the globe,” said Michael Lafave, Senior Vice President,
Containerboard/Packaging & Recycling at Kruger Inc. “We are especially
excited to bring the Ecologic paper bottle technology to our customers in
the Canadian market as an additional offering to complement our corrugated
packaging solutions.”Ira Maroofian, CEO of Ecologic added, “We want to build this company with
great products, people, and partners. The Kruger team brings all of that to
the table and truly legitimizes Ecologic as a packaging company with
staying power.”Ecologic Brands Inc., located in Oakland, California, is a designer and
manufacturer of innovative and sustainable packaging solutions. The company
released America’s first molded fiber bottle, made from recycled cardboard
and newspaper. Their line of products promotes sustainability with their
source reduction, recycled content, recyclability, compostability and
optimal shipping. They are the winner of both the “2012 GoingGreen Global
200 Top Private Companies” by The AlwaysOn Network and the “2012
International Design Excellence Awards” by the Industrial Designers Society
of America.The company is financed by ATEL Growth Capital and leading venture capital
firms Catamount Ventures and DBL Investors.