Through our Corporate Venturing activities, we successfully facilitated the acquisition of Elastopoli, a pioneering biocomposite company, by Syklo.
“It is a privilege to work with people and companies that are solving the challenges of climate change and biodiversity loss. Taking the necessary steps to address these issues is essential. In some cases, startup innovation is the shortest path to results. We’d like to thank Oulun Energia and Syklo for the opportunity to support their M&A activities with Elastopoli Oy,” says Matti Härkönen, Partner at Innovestor Corporate Venturing.
Investment Highlights:
- Acquisition Milestone: Syklo has acquired 100% of the share capital of Elastopoli. The acquisition reinforces Syklo’s investments in advancing the circular economy in line with its growth strategy. The company’s goal is to achieve an even higher degree of circular economy rate and to refine recycled materials into more valuable products.
- Technology Impact: Elastopoli’s innovative and worldwide patented technology enables the production of high quality cellulose biocomposites based on pulp. These biocomposites can effectively replace technical plastics and fiber glass composites in various applications. In addition, the technology enables the use of recycled pulp and plastics as raw materials for biocomposites, significantly increasing the processing degree of recycled materials.
- Production Expansion: With this acquisition, Syklo has also committed to tripling Elastopoli’s current pilot production line capacity and building a commercial-scale biocomposite plant in Hyvinkää, Finland, in conjunction with Finland’s largest plastic recycling plant. The plastic recycling plant and the biocomposite plant have excellent synergy, as the recycled plastic feed for the biocomposite production line will be sourced from the plastic recycling plant. Once completed in 2025, this facility will produce 8,000 tonnes of biocomposites annually, for the use of plastic industry.
“We at Syklo, plan to invest heavily in new circular economy solutions and the growth of the entire sector. We are actively seeking partners and new skills, both in Finland and internationally. In this work, Innovestor has acted as a startup scouting partner and an advisor for startup collaboration. Their input has been prominent in our ability to build measurable business results with startups.” says Teemu Koskela, Managing Director at Syklo
“Partnering with established companies through venture collaborations is a game changer for companies like ours. It provides us with the resources, scalability and expertise we need to accelerate our growth. Our alliance with Syklo, facilitated by Innovestor Corporate Venturing, demonstrates how such partnerships drive sustainable innovation,” says Markku Nikkilä, Managing Director of Elastopoli.
About Innovestor:
Innovestor is a Finnish investment company focusing on venture capital and real estate. In addition, we offer corporate venturing services. The firm currently manages six VC funds with total capital of over €250 million. Consisting of almost 100 growth companies across multiple sectors of technology and life science & health, it represents one of the largest private venture-backed portfolios in the Nordics. Our mission is to make good money.
More at: www.innovestorgroup.com
About Elastopoli
Elastopoli is a pioneer in the production of pulp-based cellulose biocomposite and has patented its technology worldwide. The technology enables the production of high-quality biocomposites, which can be used to extensively replace technical plastics and glass fibre composites, among other things. Recycled cellulose pulp and plastic can be utilised as raw materials for biocomposites, significantly increasing the processing degree of recycled raw materials.
More at: https://syklo.fi/
About Syklo
Syklo is a Finnish circular economy company that offers innovative solutions to corporate clients. We are developing and promoting new circular economy services that help companies achieve a sustainable future. Syklo is part of Oulun Energia
More at: https://syklo.fi/
Contact Innovestor Corporate Venturing:
Matti Härkönen
Partner, Corporate Venturing