Lignovations announces new financing round of €2.2 million
Lignovations, a startup focused on lignin biomaterial innovation, has successfully secured €2.2 million in a new financing round. This includes a minority investment from Borregaard, a global leader in lignocellulosic solutions. Additional funding comes from co-investor Valnon Holding, existing investors, and non-dilutive public grants from AWS and FFG. In addition, all shareholders share a commitment to advancing biomaterial innovation and diminishing the environmental impact of industries globally. Furthermore, the funding will be crucial in furthering Lignovations’ goal of promoting sustainable alternatives in the biomaterial industry using lignin.
Since its establishment in 2021, Lignovations has swiftly garnered attention for its pioneering efforts in harnessing lignin, a natural polymer present in plant cell walls. Their innovation revolves around creating eco-friendly materials that can effectively substitute traditional fossil-based products. A notable achievement includes being the inaugural company to manufacture Colloidal Lignin Particles, a high-performance and versatile substitute for various synthetic chemicals. These particles find application in cosmetics, coatings, packaging, adhesives, and other industries.
Martin Miltner, CEO of Lignovations, commented:
“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.”
Teaming up with Borregaard not only enhances Lignovations’ standing in the bio-based sector but also equips the startup to intensify research and development initiatives, scale up production capacities, and introduce its innovative biomaterial solutions to a wider range of industries.
