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News

Avery Dennison Announces Cohort 3 Startups for AD Stretch Accelerator Program

Mentor, June 5, 2024  – In an era defined by rapid technological advancements and sustainability imperatives, Avery Dennison Corporation (NYSE: AVY)  is thrilled to announce the selection of four pioneering startups for Cohort 3 of the AD Stretch accelerator program. Chosen from over 300 applications worldwide, these startups will collaborate with Avery Dennison to tackle three core challenges: next-generation energy storage materials, elevating sustainability and maximizing consumer experiences.

Next-Generation Energy Storage Materials

MITO Materials, renowned for its chemical additives for polymer composites, is set to revolutionize EV battery technology. Partnering with Avery Dennison, MITO Materials will develop a multifunctional adhesive using advanced 2D materials. This innovation aims to create lighter, stronger, and more durable batteries with enhanced mechanical strength and thermal conductivity, balancing technical excellence with market viability.

Elevating Sustainability

Green Mining, a leader in Intelligent Reverse Logistics, specializes in retrieving and recycling post-consumer packaging. Its advanced traceability system ensures the recycling of all collected materials. In partnership with Avery Dennison, Green Mining will enhance returnable packaging and reusable processes, particularly focusing on food and beverage packaging. This collaboration aims to elevate sustainability efforts and drive significant environmental impact.

Maximizing Consumer Experiences

Legitimate Tech is at the forefront of digitizing physical products to elevate the retail experience. Pilot's strategic focus involves leveraging NFC technology for secure authentication, expanding brand protection, and exploring blockchain for authentication. Avery Dennison is interested in collaborating on the use of a digital wallet to enhance solutions offerings for a variety of different use cases. Together, they will create value for Teams and Brands by enabling them to give consumers confidence in the authenticity of products enabling ongoing engagement with the consumer and establishing a pathway to resale.

LiveLike’s engagement platform transforms digital interactions into engaging experiences through gamification and loyalty programs. LiveLike is the chosen startup for AD Stretch's business challenge, which will help connect physical products with digital triggers that will enable digital consumer engagement experiences. The pilot's goal is to create value for Teams or Brands by connecting them to their consumers. They will focus on creating scalable experiences for events. This pilot represents a new era of interactive experiences, merging the physical and digital to drive enhanced consumer engagement and brand loyalty.

"We are proud to welcome these innovative startups to our AD Stretch accelerator Program," said Upma Arora, Global Innovation Programme Lead at Avery Dennison. The selection process was incredibly competitive, reflecting the high caliber of talent and groundbreaking ideas in the market today. We are excited to see how these collaborations will drive forward our vision to solving the world's most complex challenges, and we have high expectations for the transformative solutions that will emerge from this cohort.”

AD Stretch Accelerator Program Commitment

Avery Dennison is committed to supporting these startups through every stage of their journey, providing the resources and guidance needed for success. This cohort represents a significant step toward a more sustainable and consumer-centric future. The collaboration between these innovative startups and Avery Dennison will not only address complex challenges but also forge a path toward groundbreaking solutions. By working closely with these emerging companies and brand owners, Avery Dennison aims to cultivate an ecosystem of innovation where diverse perspectives and cutting-edge technologies converge. This partnership underscores the importance of a collaborative approach, ensuring that the combined expertise and efforts lead to more comprehensive and impactful outcomes.

More about the AD Stretch Accelerator Program can be found at
https://www.adstretch.com/

About Avery Dennison

Avery Dennison Corporation (NYSE: AVY) is a global materials science and digital identification solutions company that provides a wide range of branding and information solutions that optimize labor and supply chain efficiency, reduce waste, advance sustainability, circularity and transparency, and better connect brands and consumers. Our products and solutions include labeling and functional materials, radio frequency identification (RFID) inlays and tags, software applications that connect the physical and digital, and a variety of products and solutions that enhance branded packaging and carry or display information that improves the customer experience. Serving an array of industries worldwide — including home and personal care, apparel, general retail, e-commerce, logistics, food and grocery, pharmaceuticals and automotive — we employ approximately 35,000 employees in more than 50 countries. Our reported sales in 2023 were $8.4 billion. Learn more at www.averydennison.com.