Why we invested in Compostic
Growing together – Compostic & Hillfarrance
At Hillfarrance we’re extremely proud of our Scout programme, and the progress this initiative has had within the Aotearoa startup ecosystem to date.
Compostic, an innovation venture focused on compostable products, was a Scout deal made in late 2020 and will now be the first to migrate from Scout to Core within the portfolio with our recent follow-on investment.
Visionary leader, founder and CEO, Jon Reed is a purpose-driven entrepreneur on a mission to remove all plastics from our lives across the world.
Jon possesses mana (courage and integrity) and demonstrates kaitiakitanga (guardianship) and koha (respect and reciprocity) in what he does and how he does it. He is committed to nurturing the connections between people and the environment and making a meaningful positive contribution to the sustainability of our planet.
Although 2020/21 has been a challenging time due to Covid-19 lockdowns for this young start-up. Jon has navigated these choppy waters with calm leadership and ambition to continue to develop and grow Compostic.
And Compostic has really grown, and they’ve shown what their product can do.
Currently, Compostic’s products are distributed in over 75% of all major supermarkets here in Aotearoa New Zealand. However, their products are not only offered in Aotearoa but in Woolworths, the largest supermarket chain in Australia too.
We have also seen the growth of customers eagerly waiting for Compostic’s products to be stocked on shelves in other markets. Recently, they launched on Amazon where they sold over 10,000 units in under a week of being listed. An amazing achievement for the Compostic team and a tell-tale sign of what they have is what consumers are after.
Consumers have a growing appetite for sustainably produced, environmentally conscious products, which Compostic is being recognised for. In addition, the Compostic product, and the environmental values that it represents are well aligned with the consumer it is targeting.
Plastic, more than ever, is becoming a hot topic for discussion when it comes to the future of environmental sustainability. We do not see this discussion ceasing anytime soon and the need for plastic alternatives is growing at a faster pace than what has been ever seen before.
We also see how sustainability has touched all parts of our existence, with more people (especially Gen Z and Millennials) becoming conscious of their footprint and the effects that the products they purchase have on the environment.
Each year in the U.S. alone, people buy enough plastic wrap to wrap the Earth 30,000 times over. Compostic is on a pathway to change this, starting with the kitchen but will be aiming to reduce plastic use in all facets of everyday life, businesses and even entire industries into the future.
Hillfarrance stands beside Jon and his team, and the Compostic environmental movement. As it is our belief that the follow-on investment into Compostic draws the line further in the sand to address the environmental crisis we face globally. Together with others from within our portfolio Kwotimation and Mobli are working towards tackling reductions in carbon emissions from transportation.
We are excited to continue to support Jon and Compostic through its ongoing growth as it provides consumers with compostable products that they love and that will change the world.
certified 100% home compostable cling wrap
guilt-free, green wrap