Malmö-based Ekolution, which develops climate-friendly construction materials made from industrial hemp, has raised € 2.2 million (SEK 25 million) from existing investors, Breakit reports. The investors include Longrun Capital, South Bay Ventures, Neptunia Invest, and Gunnar Hagman.
Ekolution was founded in 2013 by Remi Loren, Naib Woldemariam and Henrik Jacobsson and the startup has gotten lots of interest for it’s innovative approach and large scale production. The company focuses on creating sustainable building materials that significantly reduce carbon footprints. The new funding will support the company’s expansion as it continues to innovate within the green construction sector, with a focus on scaling production and broadening its market reach.
“We are building one of Europe’s most advanced and high-tech processing and manufacturing facilities for industrial hemp,”
says founder and CEO Remi Lorén to Breakit.
The factory being built in Staffanstorp will capture 70,000 tons of carbon dioxide annually at full capacity. This will contribute to reducing Sweden’s total emissions from the construction and real estate sector by half a percent each year.
