Ecohelix secures 3,0 MEUR bridge funding to build towards full scale biopolymer production
Biotechnology scale-up company Ecohelix received new capital of 3,0 MEUR in funding round completed by end of July. Largest investors in this bridge round are Molindo Energy and Almi Invest GreenTech, who continue as anchor investors. The ownership base is also growing with the core team of employees investing in the company.
Ecohelix has patented, industry scale technology to produce high performing biopolymers from pulp industry side streams.
The company continues with its plan to start volume production of high performing and sustainable biopolymers at the beginning of 2025. Right now, Ecohelix is planning a full-scale production site at Domsjö Fabriker in Örnsköldsvik. During the first half of 2022, Ecohelix has progressed well to prepare for other production sites and new partnerships with major pulp industry companies and application producers, aiming to be a major player in new materials within the circular economy in the near future.
“We have a strong investor base, showing confidence in our vision and mission of replacing currently used harmful oil-based polymers with high performing and sustainable wood-based biopolymers. Our technology is ready, patented and tested with large and credible companies. We have a ground-breaking technology and there is a very strong belief that we can truly make a difference in how we produce goods and products used in our everyday life - products in packaging, house care and cosmetics. We are ready to move up to full scale,” says Petri Oinonen, founder and CEO of Ecohelix.
“Ecohelix is a high-potential company with patented technology, turning currently non-utilized pulp industry side streams into high performing biopolymers. Ecohelix biopolymers are the result of intense academic research, vision, innovation, business thinking and execution with talented people and open-minded partners. We are happy to be among the first investors in Ecohelix and support the vision and grow together with the company,” adds Morgan Sadarangani, chair of Ecohelix board and CEO of Molindo Energy.
Next steps in the Ecohelix journey are to begin the first production site construction in Domsjö and to launch new partnerships with companies that brings Ecohelix products on the market.
Petri Oinonen, CEO and founder
email: petri@ecohelix.com
tel: +46 70 563 2892
www.ecohelix.se
Ecohelix is a biotechnology and engineering company. Our technology utilizes natural process of wood formation, harnessing the enzymatic process to create high performing polymers. Ecohelix biopolymers can replace oil and food-based components in packaging, construction and textile industry products creating highly sustainable, emission reducing products.
Ecohelix is co-funded by the Horizon 2020 programme of the European Union. Company has also received funding from the Bio Based Industries (BBI) Joint Undertaking (JU) under the European Union’s Horizon 2020 research and innovation programme under grant agreement No 837866.
Tags:
