LignoPure invented a unique approach to replace plastics through utilization of wood waste and the team just closed its seed round with HTGF, IFH and Tanovis AG to scale its own technology for the transformation of lignin – a byproduct of the pulp and paper industries and biorefineries – into tailor made particles for life science applications and accelerate its market entry. Lignin is the second most abundant natural polymer on earth but has been so far underutilized or burned for energy production. LignoPure is positioning as game changer in the way that lignin is applied into products, offering tailor-made powders according to the intended application and bringing the properties that lignin has in nature to the end products that will be offered to consumers.
With this investment, the startup will scale up their technology for the production of 100% natural LignoBase®, ultrafine, high quality lignin particles that will be primarily offered as functional ingredient in cosmetics and replace harmful fossil-based materials. For the first time, LignoPure will be able to deliver high-quality lignin for cosmetics on ton-scale.
LignoPure works beyond the supply of lignin powders but aims to assist their customers in launching their own innovative, sustainable, and lignin-based products by offering tailored solutions and development services for Life Sciences as well as new materials.
"This first financing round will be a cornerstone for achieving our next milestones, it will help us accelerate market entry and position ourselves as pioneers in the use of lignin in human consumption products. This achievement is the result of our team’s hard work, dedication, and commitment to speed up the transition towards a greener economy", said Joana Gil, Co-founder and CEO LignoPure GmbH.
"Being in the lignin business for more than 15 years, Tanovis sees LignoPure as a perfect match and a great opportunity to reach our combined target markets faster. The founders of LignoPure bring a unique know-how and technology into our partnership. The team of Tanovis is excited to work with the LignoPure team to create novel and sustainable solutions based on lignin in a fast-growing market", said Charles Walser, CEO Tanovis AG.
"With this great alliance we not only have the chance to implement the production plant we have been dreaming of but to strategically expand our customer base and network and to build a reliable supply network. We see huge potential in the technological and market synergies this investment offers to us", said Wienke Reynolds, Co-founder and CTO LignoPure GmbH.
"Joana, Wienke and the LignoPure team have impressed us with their deep industry knowledge and an exciting technology that has the potential to improve the sustainability of products across many industries. We are delighted to support LignoPure on its way to become a company with an important impact on our environment", said Juri Bach and Stefan Fasbender, High-Tech Gründerfonds.
"LignoPure is a great example how novel, future-oriented companies can emerge from the research context. By combining valuable technical know-how with good management skills the LignoPure team is able to provide a novel and sustainable technology to the market. We are happy to have the opportunity to support LignoPure as a promising startup from Hamburg", said Dörte Bunge and Lucas Funk, both Innovationsstarter Fonds Hamburg.
"Products based on mineral oil are increasingly criticised due to their negative environmental impact. Accordingly, the pressure on the industry to revise its raw materials portfolio has grown in recent times. Therefore, it is gratifying to see that there are companies like LignoPure with their innovative, multifunctional and cost-efficient lignin products, that are helping other companies to become more sustainable. We certainly need such pioneers with smart ideas in Hamburg – and therefore also support them financially. With the Innovationsstarter Fund II, Hamburg offers a central funding program to provide venture capital. I am pleased that we have succeeded in supporting another promising young company in its development process", said Michael Westhagemann, Senator for Economy and Innovation in Hamburg.