{"id":2842,"date":"2024-05-23T04:56:24","date_gmt":"2024-05-23T04:56:24","guid":{"rendered":"https:\/\/fiberwood.com\/?p=2842"},"modified":"2024-05-23T04:57:14","modified_gmt":"2024-05-23T04:57:14","slug":"funding-news-2024-05-23","status":"publish","type":"post","link":"https:\/\/fiberwood.com\/en\/funding-news-2024-05-23\/","title":{"rendered":"Fiberwood Raises \u20ac7.7 Million to Develop Ecological Building Insulation and Packaging Materials"},"content":{"rendered":"
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PRESS RELEASE\u2014Fiberwood Ltd, A Finnish materials technology startup, has raised 7.7 million euros in growth funding from existing investors Mets\u00e4 Spring<\/a> and Stephen Industries<\/a>, together with public financiers. The company is preparing to enter a commercial phase with the aim of international growth.<\/p>\n\n\n\n

Fiberwood, established in 2019, is committed to advancing sustainable and ecological construction and packaging. The company has developed a technology and production process<\/a> to produce circular, fossil-free insulation <\/a>and packaging materials<\/a> from forestry side streams and other natural fibres.<\/p>\n\n\n\n

“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<\/strong>.<\/p>\n\n\n\n

Fiberwood is preparing to enter a commercial phase with the aim of international growth<\/h2>\n\n\n\n

In the spring of 2023, Fiberwood received 3 million euros in funding<\/a> for development work. With the additional funding now secured, the company will build 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.<\/p>\n\n\n\n

Fiberwood has several product development projects underway with strategic customers and is close to finalising its initial series of commercial agreements.<\/p>\n\n\n\n

“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 developing the Finnish forestry and materials technology know-how,” says Johansson.<\/p>\n\n\n\n

For more information:<\/h2>\n\n\n\n

Tage Johansson, CEO, Fiberwood Oy, +358 40 726 1231, tage.johansson@fiberwood.com<\/p>\n\n\n\t<\/div>\n<\/div>\n\n\n\n\n

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