Innomost raised more funding – birch bark replaces plastic

Innomost Oy, a company based in Kokkola that processes birch and forest industry by-products, has raised new growth funding.

The company was invested in by Finnish Industry Investment Ltd (Tesi), which made the investment through its Venture Bridge bridge financing program.

“The circular economy and the demand for sustainable raw material solutions will grow significantly in the near future. We see interesting growth opportunities for Innomost’s innovative products in global markets,” says Tesi’s Investment Manager Samppa Sirviö.

Last year, Innomost completed a five million euro financing round, with which it sought funds to build a pilot plant.

The most significant capital investment at the time was made by Metsä Group's innovation company Metsä Spring. In addition, the Kokkola-based company was invested in by Innovestor and a number of private business angels, among others.

With the new bridge financing, Innomost aims to take its growth plan to the next level.

Birch bark as cosmetic ingredients

Innomost's current product range consists of birch bark powder, birch charcoal powder, betulin, suberin and azelaic acid, which can be utilized as raw materials for cosmetics.

They replace plastic and palm oil in cosmetic products, among other things.

“The market potential for cosmetic products is very significant, and Innomost's new technology can revolutionize the market offering on a global scale,” believes the company's CEO. Sami Back.

“By using renewable, fully utilizable raw materials for value addition, we are at the forefront of product trends in the beauty industry.”

The company's pilot plant, which is being built in the Kokkola large industrial area, will be completed at the end of this year.

Text: Päivi Ikonen/ Kemiamedia.fi

Photo: Innomost Oy. Innomost's Sales and Marketing Director Aino Erkinjuntti (left), CEO Sami Selkälä and research chemist Suvi Teräslahti are delighted with the additional funding.