Chile-based packaging company Solubag aims to eliminate single use plastic bags. Solubag develops flexible and rigid packaging materials made from an innovative new raw material that dissolves in water without generating any negative impact on the environment. Solubag is said to be compatible with conventional production machinery, such as extrusion, which paves the way for a smooth transition to their environmentally friendly material. The company is recognized by Singularity University and Sillicon Valley, where products have been awarded a prize for the best Innovation in Latin America at the Summit Conference held in March 2018 in Chile.