An ambitious plan hatched by an expat Brazilian marine scientist and a Perth-based former M&A lawyer, to replace plastic with a new material being made out of seaweed, has picked up early stage funding from backers including the CSIRO’s venture capital fund Main Sequence.

The product and company are both called Uluu and are the brainchild of oceanographer Julia Reisser and her co-founder Michael Kingsbury, a former BHP strategy executive and lawyer at Corrs Chambers Westgarth.