Company Performance Metrics
The Rudd family in NE Alberta have a cattle operation, a pet food manufacturing company in Southeast USA (run by one son) and now this biodegradable net wrap company managed by the other son. They worked with the U of Alberta and Lakeland College in Alberta to develop the bio degradable polymer and are working with the U of Saskatchewan to text
its digestibility. CNH venture has invested a small amount and the have an exclusive deal for the next year to retail this product through their parts departments. The Rudd's advisor is Marty Chamberlin (his wife is from my region of SW Manitoba) - Marty was a senior exec at CNH for 37 years, as one point being responsible for 1/3 of North America for CNH. He knows the Rudd's and it is through him that CNH venture became interested - they invested a year ago. This product decomposes to only CO2 and water - there are no micro plastics, it lasts the same as regular net wrap for up to a year but where it touches the soil it starts to decompose in about a year. UV and water has little impact on the product. They are starting a $4m Series A - maybe at a $20m premoney?
