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ChopValue Announces $15 Million Investment and Public Launch of Parent Brand, Microfactory Venture Platform (MVP)

ChopValue Announces $15 Million Investment and Public Launch of Parent Brand, Microfactory Venture Platform (MVP)

New platform enhances commitment to scale ‘waste to resource’ globally.

 

VANCOUVER, BC – April 22, 2024 – ChopValue, the leading circular product solutions manufacturer, has secured $15M in funding to advance the company’s longstanding vision of launching its parent brand, MVP, for a responsible, closed-loop product future. Building on the success of ChopValue as the first commercially viable business model for scaling circular manufacturing globally, the Microfactory Venture Platform (MVP) reflects the brand's natural evolution to expand into different resource streams. This leverages the ChopValue brand's early traction in operating a global ecosystem of Microfactories, a business entirely built on urban harvesting chopsticks, producing premium performance products in 9 countries to date.

 

 

According to the World Bank, 3.5 billion tonnes of solid waste is expected to be landfilled annually by 2050, creating 240 million tonnes of CO2e emissions. Recognizing the urgent need for innovative solutions to address the alarming issue, ChopValue's new parent brand, MVP, aims to provide the technology platform to tackle the pressing challenge of waste accumulation from the construction, manufacturing, and consumer product sector. With its newly acquired IP portfolio for urban and industrial resource streams ranging from coffee grounds to apparel scraps, MVP is paving a sustainable path to turn more than 100 tonnes of waste to product per day.

 

"Our humble chopstick beginnings are only tackling 0.015% of the global waste problem, and we have the right people, partners, and technology in place for the next chapter of our growth” says Felix Böck, Founder and CEO of ChopValue. The micro-manufacturing model is a viable blueprint to scale a circular future and ChopValue’s value-added product engineering concept deserves to be scaled and live under its own brand: MVP.”
"We are extremely excited about the brand's evolution and believe it could be our answer to deal with waste conversion locally, while educating tangible circular economy principles right in front of us,” adds Arnoud Bakker, Commercial Director at Ikano Centres, part of IKEA Southeast Asia & Mexico. “Micro-manufacturing presents us with local opportunities to explo synergies within the community spaces we build and manage and we look forward to exploring more about the ‘on the spot recycling and conversion technologies’ for the ideal circular product-market fit.”

 

This announcement comes as ChopValue proudly reflects on recent milestones, including the diversion of over 150 million chopsticks from the landfill equating to 7,302,600 kgCO2e avoided, and over 80 Microfactories in development worldwide, while providing over 250 people with employment opportunities in the circular economy today. ChopValue is set to further expand its decentralized Microfactory operations into new countries this year, extending its manufacturing footprint across its network to over 150,000 square feet to date. In addition to strategic expansions in various locations across the U.S. as well as internationally in Malaysia, the Philippines, Hong Kong and Dubai, a new regional headquarter and Microfactory is also slated to be established in Japan to further extend its global footprint. These milestones fuel the company’s sustainable expansion, reinforcing the significance of leveraging MVP for continued progress and meaningful impact to redefine the world’s ‘waste’ problem into ‘resource’ opportunities.

 

 

Launching MVP is a deliberate and pivotal moment in the organization’s journey towards a more sustainable future and minimizing environmental impact, while encouraging resource efficiency. ChopValue’s journey so far is the blueprint to maximize the potential for this form of carbon storage in functional products, unlocking the full potential of resource streams and localizing circularity on a global scale.

 

 

About ChopValue

ChopValue is the world’s first circular economy franchise for commercialized decentralized manufacturing, with operations in 9 countries and over 80 Microfactories in development to create local impact on a global scale. Since its founding in 2016, ChopValue’s urban harvesting approach has diverted over 150 million chopsticks from the landfill. This underutilized resource is engineered into climate positive wood alternative products with zero trade offs to quality or design for homes, restaurants, and businesses. As a Top 5% Certified B-Corporation, ChopValue serves as a blueprint for implementing reverse logistics in urban environments, showcasing the potential of hyperlocal business operations to drive impactful change. To learn more about their resource-efficient impact for a carbon negative future, please visit www.chopvalue.com.

 

About MVP

MVP (Microfactory Venture Platform) revolutionizes global manufacturing with a hyperlocal approach utilizing a decentralized network of Microfactories to achieve net-zero production goals. With a mission to invest in untapped resource streams, progressive technology, and market development for sustainable commercialization of circular products, MVP harnesses circular design principles to transform under-utilized resources into value-engineered end products. The platform prioritizes purpose and the planet, without compromising its superior product performance for carbon storage. This maximizes the viability of a circular product economy while empowering people - the Most Valuable Players - in our communities. To learn more about how MVP is leading the change towards a circular economy, offering scalable solutions that promote responsible resource management, please visit www.microfactory-venture-platform.com.

 

For press inquiries, please contact Alison Lee at alison@chopvalue.com.

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