Recoma, a circular economy innovator specializing in sustainable construction materials, has raised € 2.6 million (SEK 30 million) in a funding round aimed at meeting climate funding requirements and scaling its operations. With significant backing from established investors and a bold vision for international expansion, Recoma aims to triple its sales in 2025.
Recoma transforms hard-to-process composite waste, combining paper and plastic, into durable building boards that rival traditional materials. Founded by Max Rosenberg in 2021, the company has carved out a niche by tackling the construction sector’s sustainability challenges.
From Concept to Commercialization
The idea for Recoma originated nearly a decade ago when Rosenberg, then studying psychology in the Czech Republic, learned about an experimental attempt to create building boards from waste. Inspired, he shifted his focus and launched Recoma upon returning to Sweden.
Initial years were spent obtaining certifications and proving the concept in the conservative construction industry. While the company gained momentum, launching at scale in February 2023 was fraught with challenges, including rising energy costs, construction slowdowns, and high interest rates, Max Rosenberg says in an interview with Impact Loop.
Strategic Funding and Climate Support
The funds will help secure an additional €2.9 million grant from Sweden’s Klimatklivet program, intended to double production capacity. Under Klimatklivet’s terms, Recoma must demonstrate it has the remaining 35% of matching funds by November 2024.
“We have South Bay Ventures with Rickard Dahlberg from NREP (a real estate company, editor’s note), Kiilto Ventures, former Skanska CEO Gunnar Hagman, and Byggmax with us from before. In this round, GES, a Czech industrial group and one of our suppliers, has also joined,”
says Max Rosenberg to Impact Loop
Recoma reported € 385,000 in net revenue for 2024 but faced a loss of € 1.1 million due to significant early-stage investments in machinery. The company plans to triple sales in 2025 and achieve profitability by 2027. Looking ahead, Recoma is preparing for international expansion and plans to pursue European venture capital financing in 2025.
