International. Metsä Spring, the innovation company of the Metsä Group, announces its second investment in FineCell, developer of FineCell technology and producer of CellOx dry cellulose powder.
The new funds will be used to boost material application research, engage with potential customers, and finalize the plan for a demonstration production facility by the end of 2024.
The funds will be used to further develop and plan a demonstration production facility for FineCell technology that can convert dry pulp fiber into a value-added biomaterial that can be used in both powder and aqueous solution (hydrogel). It can replace fossil-based chemicals in sectors such as beauty and healthcare products, as well as commercial paint production.
Pulp-based materials are manufactured using the novel and innovative FineCell technology, which combines pulp-based cellulose with a natural chemical (oxalic acid found, for example, in rhubarb), producing a new material that can be easily stored in solid form but is often applied in liquid form. CellOx is completely bio-based, lightweight to transport, and compared to other similar cellulose products, requires 80-90% less energy to manufacture.
CellOx can easily transport other ingredients, making it an excellent binding agent for products such as sunscreens, skin creams, and paints. It is also transparent, allowing it to be used in a wide variety of products.
"The world is struggling to replace fossil-based materials with sustainable ones. Our product, based on softwood pulp from sustainably managed Nordic forests, offers many industries an alternative to the components they currently use," said Dr. Peter Axegård, CEO and co-owner of FineCell.
"Metsä Spring has seen the potential of our innovation and, due to their knowledge in the planning, construction and operation of production plants, including pilots and demonstrations, and their access to raw material linked to their ambition to improve Nordic wood, they were the perfect solution. choice to support us as we move forward," continued Dr. Axegård.
The race to replace fossil-based ingredients in everyday products is critical for many industries. The chemical complexity of these products means that replacing ingredients requires a clear impact on sustainability without compromising performance.
