Unique Bioeconomy Project, SWEETWOODS, Raises 21 Million in Funding. ”We Produce with Wood What Used to Be Made with Oil”
SWEETWOODS is a 43-million-euro joint pilot project that was recently granted 21 million euros in funding under the EU’s Horizon 2020 programme’s Bio-Based Industries financial instrument.
“Receiving the funding is a major victory for all parties involved in the project. Specialists representing the EU and bioindustries ranked the project as the best of the round of financing, giving the project full marks,” describes Peep Pitk , the R&D Manager of the Estonian Graanul Invest Group.
The SWEETWOODS project covers the entire material process. Breaking down the wood into pure sugars and lignin makes it possible to further refine the material into high added value products that can be used to replace oil-based chemicals and plastics.
“The project can revolutionise the future of the entire global material economy,” states Spinverse’s Managing Director Laura Koponen , who has been in charge of project preparation.
The objective is to implement the technology at a full industrial scale in four years. The project will create new material economy value chains where wood plays a vital role.
The biorefinement concept can transform 80 tonnes of hardwood into high added value products like bioplastics, insulation materials, cushions, fuels and sweeteners.
“The project allows us to produce with wood what is currently made with oil.” comments MetGen’s Chief Technology Officer Matti Heikkilä .
The project is based on collaboration between several companies. The responsible manager is the Estonian Graanul Biotech specialises in wood processing. The Finnish MetGen’s pioneering enzyme technology plays a key role in the efficient extraction of pure biomaterials for further processing. The biomaterial is used, for example, by the German Tecnaro GmbH for biocomposites, Armacell via Ultima Gmbh for elastomeric foams, the French Global Bioenergies for biofuels and the Belgian Recticel N.V. for polyurethane foams. The Finnish Spinverse is orchestrating the project.
Matti Heikkilä, CTO
Laura Koponen , Managing Director
Graanul Invest Group
Peep Pitk, R&D Manager
About Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
CA-GILEAD-SCIENCES,-INC.16.7.2019 22:07:11 CEST | Press release
Gilead Sciences to Release Second Quarter 2019 Financial Results on Tuesday, July 30, 2019
NY-MSCI16.7.2019 16:51:06 CEST | Press release
MSCI Schedules Investor Conference Call to Review Second Quarter 2019 Results
KEIO-PLAZA-HOTEL-TOKYO16.7.2019 16:07:03 CEST | Press release
Keio Plaza Hotel Tokyo Offers “Tea Ceremony Experience and Luxurious Accommodations for Families” Package
LIVANOVA-PLC16.7.2019 15:02:10 CEST | Press release
LivaNova Combats Leg Ischemia with Breakthrough Bidirectional Cannula
CA-MERCATUS16.7.2019 15:02:09 CEST | Press release
Mercatus Opens UK Office; Hires Chris Webb to Lead European Operations
NY-MOODY’S/EQUISTONE16.7.2019 14:33:28 CEST | Press release
Moody’s to Sell Moody’s Analytics Knowledge Services Business
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom