Buscar Company has acquired a 50% ownership interest in Terramer, a developer of hemp-derived bioplastics, via a structured share swap.<\/p>\n
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Shares were issued to Terramer\u2019s existing stakeholders as part of the agreement, which enables both companies to align their strategic interests without cash expenditure.<\/p>\n
The share-based acquisition structure fosters long-term collaboration. It also positions both companies to focus on mutual expansion objectives.<\/p>\n
This acquisition adds Terramer\u2019s patented technology and revenue outlook to Buscar\u2019s growing portfolio.<\/p>\n
The partnership targets issues such as plastic waste and environmental degradation.<\/p>\n
Terramer produces TERBO-1000, a patented bioplastic made from hemp, which is reported to safely decompose within 180 days.<\/p>\n
The material, designed to serve as a substitute for conventional plastic products, is said to break down without leaving microplastic residue.<\/p>\n
The company operates a production site of 350,000ft\u00b2 with a capacity of 300 million pounds annually. It has secured confirmed orders totalling $6.8m to date.<\/p>\n
In addition, it holds more than $80m in signed letters of intent with leading consumer brands.<\/p>\n
The two companies plan to advance development and market access for TERBO-1000. Their focus includes industries such as foodservice, automotive, and construction.<\/p>\n
The partnership supports Buscar\u2019s intention to integrate sustainability-focused ventures into its holdings. It also reflects the growing demand for alternatives to fossil-fuel-derived plastics.<\/p>\n
Buscar Company chair and CEO Alexander Dekhtyar said: \u201cAcquiring a significant stake in Terramer represents a transformative milestone for Buscar.<\/p>\n
\u201cBy combining Terramer\u2019s groundbreaking bioplastic technology with our financial and operational strengths, we\u2019re positioned to lead the charge in eliminating microplastic pollution while delivering value to shareholders and the planet.\u201d<\/p>\n
With Buscar\u2019s acquisition, Terramer aims to boost production capacity and enhance its research and development capabilities to develop custom formulations.<\/p>\n
Terramer CEO Paul Leslie Smith said: \u201cPartnering with Buscar accelerates our mission to redefine sustainable materials. Their resources and strategic vision will help us bring TERBO-1000 to a global scale, tackling plastic pollution head-on.\u201d<\/p>\n
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