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Three Swedish Forestry Companies invest in SweTree |
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Thursday, 09 November 2006 |
Sveaskog AB, Bergvik Skog AB and Holmen AB join as new investors in the new share issue of 50 mSEK by SweTree Technologies AB
SweTree Technologies AB announces that their new share issue of 50 mSEK has been fully subscribed for by Sveaskog AB, Bergvik Skog AB, Holmen AB and the Foundation "JC Kempes Minne". This makes it possible for SweTree to further intensify the R&D work with the objective to put more knowledge into trees and tree fibers for the purpose of increasing the commercial values in the forest as well as in the paper based industries.
"We are thrilled to add these new companies to our list of owners and members of our board. This will further strengthen us in our development as a company. These companies have recognized the importance of having a unique understanding of the biology and biochemistry of trees and tree fibers to be able to better utilize the forest and the fibers from it. This is a knowledge which we can provide", commented Mats Johnson, CEO, SweTree Technologies AB
SweTree has, since its start of operations in 2000, built a strong patent portfolio and knowledge base in collaboration with researchers at Ume? Plant Science Centre (UPSC) and Royal Institute of Technology and through internal research projects. The company will now take the next step in research, development and commercialisation.
"We have over the last 10 years built-up UPSC to be the leading forest biotechnology research centre in the world", said Professor Göran Sandberg, Head of UPSC. "The new investment in SweTree by Sveaskog, Bergvik Skog and Holmen proves the commercial relevance of our research."
"We see this investment as a key step for our involvement in forest biotechnology which we believe will have a pronounced effect on the value and demand on our forest products long term", said Urban Eriksson, board member for Sveaskog AB in SweTree. "Short term we believe we can benefit tremendously in our present operations by tapping into SweTree's vast knowledge base in and understanding of tree biology and biochemistry."
"Forest biotechnology will in the future be critical for the competitive strength of the Swedish forest industry globally", commented Torbjörn Larsson, CEO of Begvik Skog AB. "We see this investment as a very important step to get access to new knowledge and technology in this field."
SweTree Technologies (STT) is a forest biotechnology company that provides proprietary technologies and products primarily to the forest industries, with a special emphasis on tree seedling and fiber-based industries such as the pulp, paper, and packaging industries. STT intends to put more knowledge and expertise into trees and tree fibers for the purpose of increasing value in key value steps in these industries in order to effect extensive improvements in efficiencies and yields. SweTree Technologies was founded in 1999 by a joint initiative between Teknikbrostiftelsen in Umeå and the company Woodheads AB, now representing a group of 45 research leaders. In 2002 the Foundation "JC Kempes Minne" joined as the main financial owner. Additional owners are SLU Holding, KTH Holding and Uminova Invest AB. The company is situated in Umeå and has an office in Uppsala. To find out more about SweTree Technologies, please see our internet web site at: http://www.swetree.com
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