Israeli plastic-substitute company Biotic raised EUR 2 mn (USD 2.01 mn) in a seed round, according to a press release. Biotic produces biodegradable plastic by processing extracts of the carbon source of biomass — a macroalgae which grows in the ocean — using saline water. The funds will be used to increase the range of polymer types and build a plant to ramp up production capacity.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• Google’s flood forecasting program can now provide life-saving forecasts one week in advance, Fortune reports. The tech offering is now available in 18 across Africa, South America, and southeast Asia, Wired reports.
• German energy company Uniper and Israeli oil and gas firm NewMed Energy signed an MoU that will see both parties collaborate on exporting blue and green hydrogen from Israel to Europe, according to Offshore Energy.
• UAE-based Farnek launched CarbonTek, an online carbon footprint calculator to assist companies in achieving net zero, according to a company statement.