Stora
Enso has increased its ownership up to 100% in Cellutech AB. The
company specializes in the development of new materials and applications
based on cellulose, micro-fibrillated cellulose (MFC) and other
wood-based components.
Replacing Fossil-based Materials with Renewable Ones
The
acquisition of Cellutech supports Stora Enso’s vision of replacing
fossil-based materials with renewable ones originating from wood. The
acquired company works, among others, in the areas of foams for
packaging and hydroponics where the markets are continuously growing.
Cellulosic foams can, for example, be used in packaging to replace
polystyrenes which are the most widely used plastics.
Adding a New Dimension to Fiber and Cellulose Capabilities
“The
acquisition of Cellutech will add a new dimension to our fiber and
cellulose capabilities particularly in lightweight cellulose foams and
spheres. We are investing in technologies and expertise that will
further broaden application development competence in Stora Enso’s
Biomaterials Division,” says Markus Mannström, EVP, Stora Enso
Biomaterials.
Established in 2013, Cellutech is an agile team of eight scientists and
researchers serving as a link between academia and industry. Cellutech
was formed to take world class scientific research developed at SweTree
Technologies and Wallenberg Wood Science Center and develop the ideas
into commercially successful technologies and products.
The transaction will not have a material financial impact on the Group.
The transaction will not have a material financial impact on the Group.
Source:Stora Enso





Supporting Anticipated Production Activities
Hexagon is currently developing the tanks to support anticipated production activities as early as the 2020 timeframe. Production is planned to run for at least five years. Hexagon estimates the combined value for development and serial production to be in the range of USD 50 to 70 million (approximately NOK 0.4 billion to 0.6 billion).
Rick Rashilla, Senior Vice President of Hexagon Composites' Hydrogen Automotive business, said:
"This is a major contract for Hexagon and for the growing FCEV industry. Hexagon Composites is committed to investing resources into the success of this project and for the adoption of Hydrogen in combination with fuel-cell technology as a low-carbon alternative fuel for mobility applications. This selection further confirms our leading position as a light duty hydrogen tank developer for the FCEV industry."