Nordic sustainable wood company Kebony in €12m venture round

Kebony is based in Norway where it operates a production facility with 30,000 cubic metres of capacity. The company commercialises its products into the global cladding, decking and flooring markets and also offers licensing packages for the brand and the technology.

Christian Jebsen, CEO of Kebony, said, “Kebony is a revolution in wood products. Our exciting new wood materials are already used with enthusiasm by architects all around Europe. Kebony’s products resemble teak and other tropical varieties of wood. It is dark, very durable, and practically maintenance-free. The tropical rainforest, one of the world’s richest natural environments, is on the verge of destruction and the impact on climate change could be very severe. We believe Kebony is a solution for the future and I am very pleased to have ETF on board to help us achieving our global ambitions.”

Henrik Olsen, partner, ETF, added, “Deforestation is one of the most significant environmental problems the world faces - it already accounts for 20 per cent of greenhouse gas emissions. In particular tropical hardwoods like teak that take 100 years to grow are being cut down rapidly as demand for durable hardwood continues to grow. To give just one example, it is being used for boat decking, where its quality and durability is considered vital. Kebony offers a sustainable alternative, and is being adopted globally by these most discerning buyers. In fact Kebony has great potential to replace tropical hardwood in many multi-billion markets, and so make a major contribution to saving precious rain forests across the globe.”

Environmental Technologies Fund is a £110m (€121.2m) venture and growth capital investment fund supported by the European Communities Growth and Employment Initiative, MAP.

Earlier this year, ETF participoated in a £10m (€11m) funding round for energy efficient telecommunications company Nujira alongside Bank Invest, 3i, Amadeus and Mitsubishi UFJ Capital.

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