Finland

[Funding alert] Finnish-based Biochemical Company Montinutra Secures €2 million in Pre-A Funding

Oct 26, 2023 | By Startup Rise EU

[Funding alert] Finnish-based Biochemical Company Montinutra Secures €2 million in Pre-A Funding

Montinutra, a Finnish biochemical company, secures €2 million in pre-approval funding. Heading the round was Metsä Spring, the corporate venture division of Metsä Group, with involvement from a syndicate of private investors.

With the help of the investments, Montinutra will be able to expedite its internationalisation efforts, design the industrial demo production plant more quickly, and introduce new goods under the Boreal Bioproducts® brand. By 2035, the company hopes to generate 100 million euros in earnings annually, and by 2026, its demonstration facility will be operational.

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Established in 2018, Montinutra transforms byproducts of the forest industry into high-value, sustainable, and natural biochemicals that take the place of fossil fuels in the chemical and cosmetics industries.

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For second-life applications, the company developed innovative, highly sustainable, zero-waste, closed-loop manufacturing techniques to extract components from forest waste materials like sawdust and bark.

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Montinutra's biochemicals will soon be used in novel bio-based product applications, such industrial binders, barrier coatings, dispersants, and personal care items. The business will be rebranded as Boreal Bioproducts. These natural, vegan, non-GMO, and biodegradable products are available.

Jaakko Pajunen, Managing Director of Montinutra, shared: “Forest industry sidestreams – such as sawdust, bark, or plywood processing residues – are currently hugely undervalued as raw materials, and are often burned for heat and energy. Traditionally, the focus has been on utilising cellulose from wood. Still, the possibility of utilising the rest of the wood, namely hemicellulose and lignin, which comprise over 50 percent of wood content, has been limited. We enable the broader utilisation of hemicellulose and lignin extracts by developing biochemicals. This is how we turn these previously underused sidestreams into mainstream materials and increase the value of the raw material in multiples.”

Katariina Kemppainen, SVP, Group R&D at Metsä Group shared: “Solutions that use natural resources responsibly and reduce carbon emissions are needed to help different industries transform from fossil-based to bio-based materials. Montinutra helps their customers in this and aims to build a new industry in Finland that combines bio-economy, sidestreams, and added value.”

About Montinutra

Montinutra uses side streams from forests to generate biochemicals. Specifically, lignin and hemicellulose gathers, which are used in the food, chemical, and cosmetics sectors.

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