binarypublishThe Metsä Group has made a second investment in FineCell, a Swedish startup that develops innovative pulp-based materials. As a developer of FineCell technology and producer of CellOx dry cellulose powder, FineCell aims to design a demo plant ready for investment decision by 2024, begin larger scale test production in 2025 and commence full commercial production by 2027.
- The Metsä Group, via its innovation arm, Metsä Spring, led a funding round amounting to €1 million to propel FineCell’s operational scale and reach. Other investors include EIT InnoEnergy and the company’s founder.
- These funds will be used to boost FineCell’s material application know-how, engage with potential customers, and develop materials needed for an investment decision about a demo production facility.
- FineCellOx AB’s technology can transform pulp into a biomaterial with added value, useful both as a powder and as a hydrogel. It can replace fossil-based chemicals in a range of industries, including beauty and healthcare products, and paints.
- FineCell stemmed from the KTH Royal Institute of Technology in Stockholm, Sweden. Its cellulose powder, CellOx, uses an innovative technology that combines cellulose with a natural chemical named oxalic acid. This fusion creates a new material that is fully biobased, light to ship, and requires 80-90% less energy to manufacture compared to similar products.
- With its capability to carry other ingredients easily, CellOx is a suitable binding agent for various products such as sunscreens, skin creams, and paints. Plus, its transparent nature makes it broadly usable.
FineCell’s progressive approach in developing biobased materials offers a promising solution to replace fossil-based chemicals. With pertinent stakes in the transition towards a more sustainable future, their operational expansion, helped by investments from firms like Metsä Group, could play a vital role in various industries, providing a more environmentally-friendly alternative.
