Fiberwood Raises €7.7 Million for the Development of Ecological Building Insulation and Packaging Materials
23 Mayo 2024 - 12:00AM
Business Wire
A Finnish materials technology startup, Fiberwood Ltd, has
raised 7.7 million euros in growth funding from existing investors
Metsä Spring and Stephen Industries, together with public
financiers. The company is preparing to enter a commercial phase
with the aim of international growth.
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Fiberwood’s insulation and packaging
material innovation lies in foam technology and raw material base.
Photo: Fiberwood
Fiberwood, established in 2019, is committed to advancing
sustainable and ecological construction and packaging. The company
has developed a technology and production process to produce
circular, fossil-free insulation and packaging materials from
forestry side streams and other natural fibres.
"Our products offer eco-friendly, recyclable and
resource-efficient alternatives to traditional mineral wool-based
insulation and cellular plastic-based packaging cushioning.
Additionally, we enable the use of sustainable products in entirely
new applications," says Fiberwood's CEO, Tage Johansson.
Fiberwood is preparing to enter a commercial phase with the
aim of international growth
In the spring of 2023, Fiberwood received 3 million euros in
funding for development work. With the additional funding now
secured, the company will begin constructing a test line to
finalise its product concept, ensure industrial scalability and
accelerate R&D activities. The test line will enable the
manufacture of fully market-compatible products for customers'
commercial projects.
Fiberwood has several product development projects underway with
strategic customers and is close to finalising its initial series
of commercial agreements.
"The funding round strengthens Fiberwood's position as a pioneer
in materials technology. We're setting the foundation for a future
production line, minimising risks from the outset. Our investment
in process technology distinguishes us, enhances our competitive
position, and contributes to the development of the Finnish
forestry and materials technology know-how," says Johansson.
Fossil-Free Insulation and Packaging - The Clear Choice for a
Greener and Cleaner Planet
Fiberwood is a materials technology startup that develops
fossil-free insulation and packaging materials from the forestry
side streams and other natural fibres. The company unlocks the
potential of leftovers by converting them into valuable,
recyclable, and carbon-sequestering materials for various
applications. Breathable and compostable insulation and packaging
materials are ecological alternatives to mineral wool-based
insulation and cellular plastic-based packaging cushioning.
Learn more about Fiberwood on their website.
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Tage Johansson, CEO, Fiberwood Oy, +358 40 726 1231,
tage.johansson@fiberwood.com Maarit Saari, Brand and PR, Mailand
Communications Oy, +358 50 550 7599, maarit.saari@mailand.fi