FineCellOX develops a patent-protected process that combines pulp-based cellulose with a natural chemical (oxalic acid) to produce CellOx dry cellulose powder and hydrogels for beauty, healthcare, and paint products. The materials can be stored in solid form yet are often applied in liquid form and are positioned as replacements for fossil-based chemicals in multiple sectors. The company is advancing and refining its technology and plans to boost material application research and engage with potential customers. FineCellOX plans to finalise the design for a demo production facility towards the end of 2024, start larger-scale test production during 2025, and commence full commercial production in 2027. It is a spinout of KTH Royal Institute of Technology and is led by CEO Peter Axegård. The company recently completed a seed funding round to support these activities.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Dec 2023