Amcor (NYSE: AMCR) shares were flat at the open on Monday. The company, purporting to be a global leader in developing and producing responsible packaging solutions, announced the extension of the application period for a new challenge under its Amcor Lift-Off initiative, the Amcor Lift-Off Sprints.
The challenge aims to support innovative companies that provide new, innovative compostable or recyclable barrier coatings solutions for paper and other compostable substrates.
The Amcor Lift-Off initiative is designed to foster technical collaborations with start-ups and innovators whose solutions address specific research and development (R&D) challenges. Successful applicants will have the opportunity to enter a joint development agreement with Amcor's R&D team and receive funding of up to $500,000.
The Amcor Lift-Off Sprints challenge is seeking companies that can provide barrier coatings for substrates that are either compostable or recyclable. These solutions should enhance the functionality and sustainability of packaging, aligning with Amcor's commitment to innovation and environmental responsibility.
The deadline is now April 13.
AMCR shares nosed up two cents to $9.46.
