KraftPal Technologies announced a US$123.9 million equity investment from Pasaca Capital Inc. (Pasaca), a California-based private equity firm, which will allow KraftPal significantly to expand the production of its lightweight, eco-friendly, low-cost, and highly durable corrugated pallets and accelerate a massive paradigm shift throughout the pallet industry.
KraftPal boasts an environmentally friendly and sustainable corrugated cardboard pallet that exceeds existing international logistics performance standards at a fraction of the weight (and cost) of a traditional wood pallet. KraftPal's automated mass-production manufacturing process allows it quickly to deliver fully sanitized, customizable pallets at scale.
"We are excited about KraftPal's innovative corrugated pallets and what they will do to facilitate more cost-effective and sustainable solutions in this industry," said Dr. Charles Huang, Chairman of Pasaca. "At Pasaca, we aim to invest in transformative technologies that significantly impact and improve existing industry norms. We are therefore pleased to invest into KraftPal and accelerate its global production capacity. This will undoubtedly cause a fundamental transformation in the way the world transports and stores goods and materials."
"Our pallets can replace up to 30% of the wooden pallets entering the market each year," said Gregor Brajovic, CEO of KraftPal. "We're honored to attract this investment, which is the largest ever in this industry. This investment demonstrates Pasaca's confidence and support of our vision of the future of the pallet industry and allows us immediately to scale up our production capacity in Europe and North America. We are excited about what we'll accomplish over the next several months, and also what we will do to revolutionize this industry forever."
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