ICR Inc. represents Footprint, the material sciences company that has developed plant-based materials to replace plastic packaging, as it plans to go public via a merger with Gores Holding VIII SPAC in a transaction valued at $1.6B.

“Our mission is to create a healthier planet and step one is to design, develop and manufacture plant-based fiber solutions as an alternative to single-use plastics,” said Troy Swope, co-founder & CEO of Footprint.

The Gilbert, AZ-based company’s customer base includes General Mills, Tyson, Quaker, McDonald’s, Procter & Gamble, Nestle, Unilever and Conagra.

It envisions a $315B annual market opportunity as companies step up sustainability drives and shed plastic and foam packaging for their products.

Launched in 2014, Footprint will trade on the NASDAQ.

ICR’s Reed Anderson works the investment community for Footprint, while Cory Ziskind handles media.

Sard Verbinnen & Co.'s John Christiansen and Cassandra Bujarski represent Gores Group.