Emerald has built a reputation as a trailblazer in sustainable packaging, with a portfolio that spans material innovation, waste reduction, and digital traceability. Their recent investment in Finnish laser marking company Cajo Technologies underscores the growing importance of sustainable marking technologies in global supply chains.
We sat down with Fredric Petit, Partner at Emerald, to discuss why Cajo stood out, the promise of their MakeBright™ technology, and what this investment signals for the future of eco-friendly packaging.
Q: What drew you to the marking and labelling space in particular?
Fredric Petit: At Emerald, we’ve always believed that innovation in packaging isn’t just about materials—it’s also about the processes that bring packaging to life. Marking and labelling are essential to packaging, yet they’re often overlooked when it comes to sustainability. Most solutions still rely on ink, adhesives, and labels, which are costly and environmentally problematic.
Laser marking, and Cajo in particular, offers a clean, additive-free alternative. With the rise of regulations like the EU’s Single-Use Plastics Directive and the Plastics and Packaging Waste Regulation, there’s growing pressure on brands to eliminate non-recyclable elements like ink and stickers. That’s where Cajo shines.
Q: What makes Cajo’s technology stand out from other laser marking solutions?
Fredric Petit: Cajo has developed a truly differentiated platform. At its core is a proprietary control board and software system that offers precise laser modulation. This enables them to mark even the most sensitive materials—like cardboard—without burning or damaging them. Their MakeBright™ technology, in particular, can create both light and dark shades on cardboard using just a laser beam. No ink, no glue, no ribbons. Plus, the additive-free technology delivers direct savings by cutting CO₂ emissions by up to 90% compared to inkjet.
This is achieved by adjusting laser energy to bleach or char the surface in a controlled way. It’s a big leap forward from traditional systems that struggle with heat sensitivity and substrate variability. Plus, Cajo’s technology delivers industrial-scale performance. In applications such as the wire and cable industry, it can replace traditional inkjet marking at speeds of up to 10 m/s—around 30% faster than inkjet—allowing manufacturers to increase production capacity while ensuring consistent, high-quality results. This combination of speed, precision, and sustainability makes the technology highly adaptable across industries.
Q: Can you explain why this matters in a packaging context?
Fredric Petit: Absolutely. For packaging brands, especially large-scale CPGs, speed, cost, and flexibility are everything. Cajo’s systems allow brands to consolidate SKUs, streamline labelling, and improve traceability—all while reducing environmental impact.
Q: Some critics say laser solutions are expensive. What’s your take on the cost profile?
Fredric Petit: It’s true that the upfront CAPEX is higher. But when you factor in the operating costs—zero consumables, minimal maintenance, no ink refills—the payback is typically under 24 months. For higher-quality applications, like those replacing both inkjet and labeling systems, the ROI can be achieved in the first or second year. And that’s before you account for the intangible savings from reduced waste, downtime, or packaging errors.
Their ability to combine high performance with cost efficiency is part of why we view Cajo as a rare gem in this space.
Q: Let’s talk about competition. What does the landscape look like, and where does Cajo sit in it?
Fredric Petit: The competitive landscape is fragmented. You have OEMs offering high-end lasers, and integrators stitching systems together—but few players do both well. Cajo uniquely operates as a hybrid: a manufacturer with OEM-grade quality and an integrator with full-stack capabilities.
Their systems are modular, compact, and fully integrated—hardware, software, even vision systems for quality control. That enables faster deployment and higher throughput. For example, where a competitor might need two $40–50k lasers to mark copper, Cajo does it with one unit at $20–30k, all while meeting demanding standards.
They also have a deep library of optimized material settings, which speeds up deployment and minimizes customization time. It’s not just a product—they’re delivering a whole ecosystem.
Q: The MakeBright™ solution seems especially promising. What’s the commercial traction like so far?
Fredric Petit: Very promising. The technology is already being adopted across the value chain, from paper mills to well-known global brands—one reference example being PepsiCo, where the solution has been verified and the first production deliveries completed. The company has also started building a partnership network and opened up significant collaborations that enable scalable integration into the value chain, while taking into account the existing install base. For large customers, a single production facility can typically include 150–300 devices ready for modernization—highlighting the scale of opportunity ahead.
Q: What’s Cajo’s go-to-market model, and how does Emerald plan to support their scaling?
Fredric Petit: Cajo sells both directly and through OEMs, distributors, and integrators, which allows them to penetrate multiple verticals like metal, cable, EV batteries, and now packaging. Their global rollout strategy includes assembly hubs in Finland, India, and the US, which lowers cost and lead times. The Indian facility, in particular, will be key for scaling into emerging markets with cost-competitive products.
At Emerald, we’re bringing more than capital—we’re offering connections to our corporate LPs and insights from our other packaging investments. We’ve already made introductions in food & beverage, pharma, and logistics, where traceability and sustainability are top priorities.
Q: Any final thoughts on the investment?
Fredric Petit: Cajo is more than a laser company. It’s a platform for sustainable, digitized, and scalable product marking. We believe this technology is a key enabler for circular packaging systems—offering flexibility, precision, and environmental benefits that legacy systems can’t match.
We’re excited to be part of Cajo’s journey and to help unlock its next phase of growth.
More on Sustainable Packaging & Materials at Emerald:
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