- Lignin Industries raised €3.9mn to accelerate commercialisation.
- The investment round was led by the Carrick family and included over two dozen investors.
- Renol® is a bio-based thermoplastic derived from lignin.
- Lignin Industries is collaborating with Hellyar Plastics and other manufacturers.
Investment and Expansion
Lignin Industries AB, a Swedish greentech company, has secured €3.9 million in fresh funding to accelerate its commercialisation and scale-up plans. The investment round was led by the Carrick family, the company's founders and majority owners, and included contributions from over two dozen investors from various fields. New owners contributed over 40% to the round.
Renol®: A Sustainable Solution
The company has developed Renol®, a patented bio-based thermoplastic derived from lignin, the second most abundant organic material on Earth. Renol® aims to reduce the plastic industry's reliance on fossil fuel-based plastics. Lignin Industries has gained significant commercial interest since emerging from stealth last year.
Partnerships and Market Reach
Lignin Industries has partnered with UK-based Hellyar Plastics, a leading compounder and distributor, to collaborate with customers across sectors such as consumer electronics, home accessories, appliances, and construction. The company is also in advanced discussions with several manufacturers and at the Letter of Intent stage with category leaders.
Product Development and Sustainability
The company is gaining traction with its e-commerce bags, which are sold to fashion brands. These bags, made from lignin-based plastics mixed with recycled plastics, offer the same functionality as conventional fossil plastic bags but with lower CO2 emissions. Lignin Industries continues to invest in R&D to optimize Renol®'s use cases and applications, as seen in recent collaborations with Scania and Vinnova.
