Austria

[Funding alert] Vienna-based Lignovations Secures €2.2 Million in Funding

Dec 5, 2023 | By Startup Rise EU

Vienna-based Lignovations secures €2.2 million in funding & investment from Borregaard, a global leader in lignocellulosic solutions.

Vienna-based Lignovations secures €2.2 million in funding & investment from Borregaard, a global leader in lignocellulosic solutions.

Read also - London-based Runna Secures £5M in Funding

With this financial backing, Lignovations is taking a big step towards realising its goal of expanding the biomaterials market with lignin-based, sustainable alternatives.

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Martin Miltner, CEO of Lignovations said, “We are excited to have Borregaard as an investor, a company that shares our commitment to sustainability and innovation,” “Borregaard can help us accelerate the development and commercialization of a new generation of functional lignin-based materials, driving the transition towards a more sustainable world.”

Stefan Beisl, Head of R&D of Lignovations said, “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,”.

Lignovations' position in the biobased industry is further strengthened by this partnership with Borregaard, which also gives the startup the ability to increase R&D efforts, scale up production capabilities, and introduce its cutting-edge biomaterial solutions to a broader spectrum of industries.

Read also - Madrid-based Electric Mobility Velca Secures €5.3 Million in Series A Round Funding

Pål Romberg, Director of Acquisitions and New Investments at Borregaard said, “By investing in Lignovations, we see an opportunity to support a pioneering startup that aligns with our commitment to sustainable solutions and the reduction of fossil resource dependency,” “We believe in the transformative potential of lignin-based materials and look forward to supporting Lignovations to create new opportunities for lignin.”

About Lignovations

Since its founding in 2021, Lignovations has become well-known for its ground-breaking work in developing novel, environmentally benign materials that can supplant conventional, fossil-based products by using lignin, a naturally occurring polymer found in plant cell walls.

Read also - German Startup Unchained Robotics Secures €5.5 Million in Funding

It is the pioneer in the commercial production of colloidal lignin particles, a multipurpose, high-performing substitute for many synthetic compounds found in adhesives, coatings, packaging, and cosmetics.

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