Today it is announced that Stora Enso has acquired all outstanding shares in Cellutech.
The acquisition of Cellutech supports Stora Enso’s vision of replacing fossil-based materials with renewable ones originating from wood.
“Stora Enso has been with us from the start and we share the same belief that everything that is made from fossil-based materials today can be made from a tree tomorrow. Fostering breakthrough innovations in new materials is an important step to reach this goal and something that Cellutech has been working hard to master. We are now looking forward to the opportunities this acquisition will bring to the innovations we are working with” says Åsa Ek, CEO, Cellutech.
Cellutech develops new sustainable wood-based materials. The company works with cutting-edge scientific research developed at Wallenberg Wood Science Center, and advances the ideas into commercially viable technologies and products. One example is a lightweight cellulose foam made of paper which replaces traditional plastic foams, such as Styrofoam in packaging. The award-winning material can either be recycled as regular paper, or composted at home, and it will biodegrade should it end up in nature. “The market has been searching for a sustainable material that can replace Styrofoam and we believe that for certain products cellulose foam is the answer” says Paula Martirez, Business Development Manager, Cellutech. Work is now focused on scaling up the production to pilot. Other technologies Cellutech has include cellulose spheres, magnetic cellulose and transparent wood.
As part of Stora Enso’s Biomaterials Division, the team will continue their work of developing and commercializing new materials and applications.
For further information please contact:
Åsa Ek, CEO +46 70 203 1817
About Stora Enso
Part of the bioeconomy, Stora Enso is a leading global provider of renewable solutions in packaging, biomaterials, wooden constructions and paper. Stora Enso has some 26 000 employees in over 30 countries. Sales in 2017 were EUR 10 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY).