Valued at €25bn, the global insulation market is dominated by two groups of products: i) inorganic mineral wools (made from stone or glass), ii) fossil-based plastics, like polystyrene. However, these products are not recyclable/ biodegradable. In comes Finland-based Fiberwood, which produces 100% ecological insulation + packaging sheets, with a special foam-forming technology, using wood pulp & (wood industry) side streams (i.e. turning cheap feedstock into a high-value product). The firm’s foam-forming technology is said to be “more energy-efficient & use less water than similar processes in general”. Unlike those made with mineral wool, Fiberwood’s insulation sheets are breathable (can absorb & release moisture) + fire-resistant (as well as easy, safe & quick to install). Fiberwood’s packaging sheets offer protection capabilities similar to Styrofoam. Founded in 2021 by Tage Johansson (CEO) with support from Karita Kinnunen-Raudaskoski (Director of Technology), Fiberwood started testing commercial-size insulation sheets last year. The new funding will now go towards scaling up the (continuous) production line at its pilot plant; the aim is to have products commercially available in mid-2024 (note: as no existing machinery & processes can produce its products, Fiberwood will “need to invent their own technology”). In doing so, Fiberwoods insulation sheets are helping drive innovation in the construction industry which is responsible for 40% of the world’s carbon emissions (in Northern Europe, 75% of buildings are energy inefficient, responsible for 40% of energy consumption & 36% greenhouse gases; 10% of them are constructed out of wood, which is projected to grow to 30% by 2050). Finally, Fiberwoods packaging sheets will undoubtedly get tailwinds from the EU Single-Use Plastic Directive, which bans several plastic-based products & restricts many others. [other examples of innovation in the insulation industry include – UPM Raflatac announcing that its PET plastic liner waste will be processed into a raw material by Inosence Polylo & turned into insulation by Finnfoam – & in the packaging industry – see interesting projects by Dufaylite (UK) & Smurfit Kappa (IE)]. <Source: packagingeurope.com, articstartup.com, packaginginsights.com, ain.capital, tech.eu, techfundingnews.com>
