Finland’s Aisti Gets €20 Million EIB Loan To Boost Bio-Based Acoustic Tile Production

Jyväskylä-based startup Aisti has secured a €20 million loan from the European Investment Bank to expand production of its bio-based noise-reducing building tiles.

The funding will support the expansion of Aisti’s factory in Kitee, Eastern Finland, while boosting research and development to improve the tiles’ acoustic and fire-resistant properties and support European expansion, with a focus on the Nordic region.

Aisti, CEO and founder, Mikko Paananen said “With EIB’s support, we can move faster and further than our initial business plan. Doubling our capacity strengthens our ability to offer a natural, recyclable alternative to traditional acoustic tiles – at the scale the market now demands. This partnership brings us closer to our vision of changing construction for good by making healthier, lower-carbon materials the new industry standard".

According to the company, its foam-forming technology turns fibres into acoustic tiles that are safe, sustainable, recyclable, and cost-effective. The patented tiles offer an eco-friendly alternative to mineral wool, do not release fibres into indoor air, and are designed for schools, offices, and other public and commercial buildings.

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In 2024, Aisti raised €29 million in a Series A round, following a €1.6 million raise in 2022. Investors, including Voima Ventures and Maki, back the company.VC, Finnvera, and Valve Ventures.

The financing is provided under the InvestEU programme and takes the form of venture debt, a long-term loan with flexible terms that does not dilute ownership.

The new large-scale factory in Kitee will double Aisti’s planned production capacity to 2.5 million square metres and is expected to start manufacturing in the second half of 2026.

According to the EIB, the plant will use an energy-efficient process powered by clean electricity. Aisti also says its tiles hold global acoustics and indoor climate certifications and meet fire resistance class B-s1, d0.

EIB Vice-President Karl Nehammer said “Europe’s green transition depends on the emergence of innovative companies like Aisti. By backing this project, we are promoting the circular economy, supporting rural development, and reinforcing Europe’s capacity to produce sustainable construction materials at scale”.

The project also supports the EIB’s TechEU initiative by accelerating innovation in sustainable, biomass-based solutions.

About Aisti

Founded in 2019 by Mikko Paananen, Antti Fredrikson, and Petri Jetsu, Aisti is a materials technology company that produces natural suspended ceiling acoustic tiles made from renewable wood fibre.