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Metsä Spring leads funding round in Fiberwood

Metsä Spring leads funding round in Fiberwood
Metsä Spring has led a funding round in Fiberwood, a developer and producer of wood fibre-based insulation and packaging materials (photo courtesy Metsä Spring).

Metsä Spring, the innovation venture capture arm of Finland-headed forest industry major Metsä Group, has announced that it has led a funding round in compatriot start-up Fiberwood, a producer of 100 percent ecological wood fibre insulation and packaging materials made from mechanical wood industry side streams.

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Founded in 2019, Fiberwood is a new and ecological insulation material used for insulation and packaging cushioning/protection made from wood pulp and side streams of the mechanical wood industry by means of foam forming technology.

Led by Metsä Spring, the round included public financing from Business Finland. The funding will be used to develop and scale up the production capabilities of Fiberwood’s pilot plant as it heads into industrial-level continuous production.

Biobased insulation sheets

Valued at EUR 25 billion, the global insulation market is currently dominated by two groups of products: inorganic mineral wools, such as stone or glass, and fossil-based cellular plastic products, like polystyrene.

However, these products have more environmental consequences as they are not recyclable, biodegradable, or fossil-derived.

Fiberwood’s bio-based, plastic-free, and compostable insulation sheets are made from wood pulp and side streams from the mechanical wood industry with special foam-forming technology.

Since last September, in our first phase of production, we have been able to produce commercial-sized insulation boards for testing. Next, we will build a continuous pilot line for production-scale product and process development. As no existing machinery and processes can produce our products, we need to invent new technology to do so, said Karita Kinnunen-Raudaskoski, Director of Technology and Product Development at Fiberwood.

Energy and water efficient

The construction industry is responsible for up to 40 percent of the world’s carbon dioxide emissions, so innovations like the technology developed by Fiberwood are much needed to reduce the industry’s emission production and promote completely wood-based construction.

The wood-based thermal insulation sheets utilize the natural properties of wood as well as air pockets that increase the material’s insulation capabilities.

The boards are breathable, which refers to the building material’s ability to absorb and release moisture, unlike mineral wool, and the material is fire-resistant.

As it is plastic-free, it is not a source of microplastics. Furthermore, as they store and bind CO2 in the wood, the products are carbon negative for as long as the product is in use.

The insulation sheets are easy, safe, and quick to install. Once they are ready to be recycled, the insulation sheets will biodegrade into plastic-free soil.

Our innovative foam-forming production process is more energy-efficient and uses less water than similar processes in general, so we promote the goal of sustainable development by using side streams, producing high-value products energy-efficiently, and promoting wood construction, Karita Kinnunen-Raudaskoski.

According to Fiberwood, wood construction is estimated to grow from 10 percent to 30 percent in EU countries by 2050.

Approximately 75 percent of buildings in Northern Europe are energy inefficient and responsible for 40 percent of energy consumption and 36 percent of greenhouse gas (GHG) emissions.

Fiberwood helps promote energy efficiency and cleaner inside air while reducing environmental waste in the construction industry.

We are contributing towards a more sustainable future by using side streams, producing high-value products energy efficiently, and by accelerating the potential of wood-based construction. We are grateful to our investors for believing in our product’s potential, and for the opportunity to use Metsä Group’s forest industry side streams as raw material, said Tage Johansson, CEO of Fiberwood.

Fiberwood’s packaging cushioning/protection sheets are excellent in protecting goods in transport, with protection abilities similar to styrofoam sheets and no meaningful warpage in changing conditions.

Fiberwood has developed a one-of-a-kind technology that utilizes renewable raw materials from sustainable forest sources. Metsä Group wants to support the most efficient utilization of side streams. The world needs new innovations to support the circular economy, and it is innovations like this that we want to support, said Erik Kolehmainen, VP of Corporate Venturing at Metsä Spring.

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