The Järvenpää-based eco materials technology startup Fiberwood has raised €7.7 million in a growth investment round from existing investors Metsä Spring and Stephen Industries. The company plans to enter a commercial phase with the aim of international growth for its ecological building insulation and packaging materials.
- Established in 2019 by Tage Johansson, Fiberwood is a wood fiber-based insulation and packaging material developer and manufacturer. The startup obtains sheet materials from wood pulp and mechanical wood industry residual fibers utilizing a new form of foam-forming technology.
Tage Johansson, the founder of Fiberwood
- Fiberwood is committed to advancing sustainable and ecological construction and packaging. The company has developed a technology and production process to produce circular, fossil-free insulation and packaging materials from forestry side streams and other natural fibres.
- In the spring of 2023, Fiberwood received €3 million in funding for development work.
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,
Fiberwood’s CEO, Tage Johansson, says.
- The fresh growth funding was co-led by existing investors Metsä Spring, an Espoo-based innovation company that develops new businesses related to wood-based value chains, and Stephen Industries, a family owned investment company based in Helsinki, focusing on healthtech, deeptech and greentech solutions. Several public financiers also participated.
With a fresh investment, Fiberwood will strengthen its position as a pioneer in materials technology sector and accelerate its international expansion.
