Sweden’s Fibu raises $500k to scale wood-based foam
In Sweden, Fibu AB, a company developing wood fiber-based foam, has been granted SEK4.26 million (US$463,000) in climate investment funding from Klimatklivet, a program administered by the Swedish Environmental Protection Agency. The funds will be used to scale Fibu’s patented technology, which has applications as biodegradable alternative in packaging, insulation, and acoustics. “We are grateful for the support from Klimatklivet and the confidence in our work to develop renewable alternatives to fossil-based materials. This milestone strengthens the foundation for the scale-up and capital raising we are currently pursuing,” Majid Madadi, CEO of Fibu, of pulpapernews.com. Klimatklivet is a Swedish government program that funds local projects to reduce emissions and advance climate neutrality.
Category: Chemicals & Materials
