CNBC announced the ninth annual Disruptor 50 list, made up of 50 private companies with “business models and growth rates aligned with a rapid pace of technological change” that we’re seeing across the country as we head out of the Covid-19 pandemic.
Gilbert-based Footprint made its debut on the Disruptor 50, coming in at 45. Footprint strives to eliminate single-use and short-term use plastics. Only 9% of plastic used in the U.S. in 2018 was recycled, according to the EPA.
Footprint designs, develops and manufactures plant-based Fiber Technology products, made from biobased, compostable, recyclable fibers, with the goal to eliminate waste and positively impact the environment.
Footprint told CNBC that its fiber bowls, containers, trays, cups and other packaging products have already eliminated 61 million pounds of plastic.
The sustainable technology and materials company is in some of the largest grocery stores, like Walmart, Costco, Target, Kroger and Trader Joe’s. Footprint is also collaborating with major brands to eliminate their plastic waste, like McDonald’s, Beyond Meat, Chick-fil-A, Dunkin, Panera Bread and True Food Kitchen.
Footprint was founded in 2014 by co-founders Troy Swope (CEO) and Yoke Chung, both former Intel engineers. The company has raised over $500 million, according to Crunchbase.