Lixea announces the completion of a funding round from Kiram AB and Almi Invest NMS AB.
As a strategic investment partner, Kiram will support the commercialization of Lixea’s novel biomass fractionation technology as it moves from pilot to pre-commercial scale. The investment is alongside with Almi Invest NMS AB who champions investments in key industry areas in the regions of Dalarna, Gävleborg and Värmland, where the agriculture, forestry, and the paper & pulping industries have strong presence, providing Lixea with crucial entry to target markets.
The company’s patented ionic liquid-based process converts wood waste and agricultural residues into chemical building blocks for sustainable chemicals and materials for the fast-growing bioeconomy.
Lixea was founded as a spin-out from Imperial College London (UK), and its pilot plant at LignoCity Bäckhammar (Sweden) began operations in 2022. The plant has exceeded its design performance in validating the scalability and economic viability of the technology.
Kiram is an investment company that supports ventures that develop and create innovative and sustainable solutions with the potential to decouple fossil-based raw materials in various industries. Kiram’s investment will support Lixea’s collaborations and testing with a number of globally located customers and its pathway toward a commercial demonstration plant.
Almi Invest is Sweden’s most active early-stage investor. The organization makes investments across Sweden through 8 regional funds and the national GreenTech fund. Almi Invest provides long term support to local initiatives from idea through sustainable growth.
Krisztina Kovacs-Schreiner, CEO of Lixea: “We came to Sweden two years ago. Since then, we have built our now fully operational pilot plant, grew the team, and exceeded our milestones. Currently, we are scaling up, and to be able to continue this journey together with partners as established and knowledgeable as Kiram and Almi is fantastic! “
“We believe Lixea has the potential to revolutionize the utilization of low-grade biomass streams. Their platform technology for converting waste to renewable products is unique and we are excited to support their growth” – says Christer Gustavsson, Kiram’s CEO.
Dr Florence Gschwend, CTO & Co-Founder of Lixea: “We are thrilled to have Kiram and Almi on board as investors. Their industry expertise and established network will provide valuable resources and guidance as Lixea continues to scale up.”
Henrik Larsson, Investment Manager at Almi Invest NMS AB: “We have been following Lixea’s development closely from day one and have been impressed by the wide range of potential application areas of their technology! Very much look forward to supporting them not just with capital, but with business development backing using our extended professional network in Sweden, Scandinavia and beyond.”