Lignovations, a startup in lignin biomaterial innovation, has announced the closing of a seed round of €2.2 million. The investment saw participation from Borregaard and will help to grow the biomaterial industry with sustainable, lignin-based alternatives.
- The startup was co-founded in 2021 by Stefan Beisl, Martin Miltner, and Angela Miltner, as a TU Wien (Vienna University of Technology) spin-off. Lignovations develops and manufactures high-performance biomaterials from lignin that can replace traditional, fossil-based materials in industries such as cosmetics, coatings and packaging.
- Lignovations also claims that it is the first company that commercially produce Colloidal Lignin Particles, a high-performance, multifunctional alternative to many synthetic chemicals in cosmetics, coatings, packaging, adhesives, and other applications.
„We make use of 500 million years of evolution in nature. Lignin protects plants from sunlight, oxidation, and other negative environmental influences. Through our patented technology, we can make these protective properties of lignin useable in consumer products.“
said Stefan Beisl, Head of R&D of Lignovations.
- The fresh round was led by Norwegian Borregaard, that produces environmentally friendly biochemicals that can replace oil-based products in agriculture and aquaculture, construction, pharmaceuticals and cosmetics, foodstuffs, batteries, and biofuels. Additional financing is provided by Valnon Holding, and non-dilutive public grants from aws and FFG.
- This partnership will help Lignovations to expand research and development efforts, scale up production capabilities, and bring its biomaterial solutions to a broader spectrum of industries.
