Stora Enso acquired 100% of the shares of a US-based company called Virdia, who develops extraction and separation technologies for conversion of cellulosic biomass into highly refined sugars and lignin. The main advantages of its technologies are high-purity of the output and cost competitiveness.
The traditional pulp making process only uses about 50% of the harvested tree and the rest is usually burnt for energy. These new technologies enable us to use also the other half and create a variety of new sustainable replacements for fossil-based technologies used in our daily lives, like construction, coating, personal care and food industry.
This is a new step in implementing our strategy, following the lignin extraction investment at Sunila Mill in Finland.
"This acquisition is in line with our strategy of growing in bio-based chemicals, ingredients and solutions, building on cost-effective, non-food-competing raw materials. These solutions 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," says Juan Carlos Bueno, EVP, Stora Enso Biomaterials.