Growth capital of €7.7 million was received by Fiberwood, a materials technology business situated in Järvenpää, Finland.
Investors
- Public financiers
- Metsä Spring
- Stephen Industries
Use of funds
The firm plans to utilize the money to grow internationally by expanding operations and advancing its development initiatives in order to be ready to enter a commercial phase. Now that the extra cash has been obtained, Fiberwood plans to start building a test line in order to refine its product idea, guarantee industrial scalability, and quicken research and development. The test line will make it possible to produce goods for clients’ business projects that are completely marketable.
About Fiberwood
Fiberwood is a materials technology firm led by CEO Tage Johansson. They have created a method and technology to turn forestry side streams and other natural fibers into circular, fossil-free insulation and packaging materials. By turning leftovers into recyclable and carbon-sequestering materials for a variety of uses, the firm enhances leftovers. Ecological alternatives for mineral wool-based insulation and cellular plastic-based cushioning in packaging are breathable and biodegradable materials.
