Terravive, a Richmond-based maker of single-use compostable products, has experienced 600% annual growth over the last three years, its execs say, and is now at a crossroads. It must decide whether to continue with contract manufacturing or raise millions of dollars and build a manufacturing plant in the U.S.
The company makes compostable silverware, cups and takeout containers. It sells mostly to wholesalers, universities and large organizations and has seen a huge increase in demand as people have become more environmentally focused. As a result, cities across the country are recruiting the company and trying to get it to locate a manufacturing facility.
“We have been courted by a lot of different cities because of the explosive growth that we’ve seen over the last couple of years,” said Julianna Keeling, Terravive founder and CEO. “Austin [Texas] has been courting us. Pittsburgh has been courting. Other cities across the United States have been courting us.”
Keeling started…
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