Metsä Group invests in startup FineCell that produces pulp-based materials for beauty, healthcare, and paint products
Summary
FineCell is a spinout of the KTH Royal Institute of Technology in Stockholm, Sweden.The CellOx material is made through the novel and innovative FineCell technology, which combines cellulose with a natural chemical - oxalic acid found in e.g. rhubarb - producing a new material that is completely biobased, light to ship, and compared to other similar cellulose products, requires 8090% less energy to manufacture. Our product, based on softwood pulp from Nordic forests, gives many industries an alternative to the components they are currently using, says Peter Axeg\xe5rd, CEO and co-owner of FineCell. Mets\xe4 Spring has seen the potential in our innovation, and due to their know-how in planning, constructing and operating production plants, including pilots and demos, and their access to the raw material linked to their ambition to upgrade Nordic wood, they were the perfect choice to support us as we move forward.Globally, the race to replace fossil-based ingredients in everyday products is central to many sectors. The chemical complexity of these products means that replacing ingredients requires a clear sustainability impact without compromising performance.Weve been following FineCell for some time and are delighted to now be part of their journey. At this stage, we do not yet know all the directions that this technology platform might take us, says Niklas von Weymarn, CEO of Mets\xe4 Spring.FineCell aims to have the design of its demo plant ready for investment decision by the end of 2024.