GreenSpense Receives Funding from EU's Horizon 2020

Israel - English

• USA - English

TEL AVIV, Israel, May 15, 2019 /PRNewswire/ -- GreenSpense, maker of the world's first gas-free, high-pressure continuous dispensing solution, announced today that it been selected to receive funding from the EU's highly-selective Horizon 2020 SME Instrument Phase II programme. Horizon 2020 is an €80 billion funding program managed by the European Commission and dedicated to transforming research and innovation into market-leading products.

GreenSpense received the funding to further develop and commercialize its Eco-Drive product. Based on breakthroughs in elastomer technology and materials engineering, Eco-Drive enables aerosol-like continuous dispensing, without the need for gas or pressurized metal canisters. Dispensers based on Eco-Drive deliver the familiar consumer experience of aerosols, within safer, less expensive and more environmentally friendly packaging, with a lower CO₂ footprint. Also, for the first time, brands using Eco-Drive are free to implement innovative, differentiated package designs for their spray, gel and foam products, using low-cost, recyclable materials, such as plastic, cardboard and glass.

"We are pleased that the Horizon 2020 programme recognized the revolutionary potential of our Eco-Drive product, and our focus on sustainability, brand differentiation and consumer satisfaction," said Gadi Har-shai, CEO of GreenSpense. "With this boost, we are more certain than ever that every household, office, hospital and factory in the western world will soon be using products based on our safer and more ecological dispensing technology."

A few select European brands are presently running pilots for the production and marketing of their products, packaged within Eco-Drive. GreenSpense is accepting requests from other brands interested in small-quantity pilots using their own dispensed products.

About GreenSpense

GreenSpense was launched in 2012 with the vision of harnessing the latest elastomer technologies to create a high-pressure, continuous-dispensing solution that entirely does away with pressurized gases and propellants. After years of multi-discipline research and development, GreenSpense's unique Eco-Drive product now provides high-pressure, propellant-free continuous dispensing of spray, lotion, gel and foam products. Eco-Drive delivers the familiar aerosol dispensing experience, without the need for pressurized gas or metal canisters. Due to use of recyclable and bio-degradable packaging materials, Eco-Drive dispensers have a significantly lower environmental footprint than that of conventional aerosols. GreenSpense is backed by a consortium of private and venture capital investors. Learn more here.

About Horizon 2020

Horizon 2020 is the largest EU Research and Innovation programme ever, with nearly €80 billion of funding available over seven years (2014 to 2020), in addition to the private investment that this money will attract. The programme promises more breakthroughs, discoveries and world firsts by taking great ideas from the lab to the market. Learn more here.

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