Stora Enso acquires US-based biotech company

By Jenny Eagle

- Last updated on GMT

Stora Enso acquires US-based biotech company

Related tags Stora enso

Stora Enso has acquired 100% of the shares of the US-based company Virdia, a developer of extraction and separation technologies for conversion of cellulosic biomass into refined sugars and lignin.

The transaction is approximately $33m with additional potential payouts of about $29m following completion of specific technical and commercial milestones by 2017.

This acquisition is in line with our strategy of growing in bio-based chemicals and ingredients, building on cost-effective, non-food-competing raw materials​,” said Juan Carlos Bueno, EVP, Stora Enso Biomaterials.

These products will contribute to a more sustainable future by replacing fossil-based materials in various applications with renewable and cost-effective choices​.

We are now investing in a new technology platform that will enable us to reach new industries and value chains, and create significant sustainable profit growth for our company​.”

The acquisition of Virdia supports the vision of Stora Enso’s Biomaterials Division in becoming a significant player in biochemicals and biomaterials.

The technology enables more efficient extraction of different fractions of the biomass, allowing the possibility to develop and commercialise renewable solutions to address well-identified market-driven needs.

This is a new step in implementing the Division’s strategy, following the recent lignin extraction investment at Sunila Mill in Finland.

Founded in 2007, Virdia is a private, venture-capital-backed company. It runs a pilot facility in Danville, Virginia, US.

Related topics Processing & Packaging

Related news

Follow us


View more