June 23rd 2021 has had a big circle on the calender here at Sekab. This was the date our application for investment support from the European Innovation Fund was due.
Our plans to build a full-scale production facility that makes, among other things, ethanol and lignin from residual products from the forest industry has been selected as one of Europe’s 70 most promising climate innovations Sekabs technology on EU radar. It was almost ceremonial when we late yesterday afternoon put the last documents in the electronic portal and pressed the “submit” button.
Just moving on to the final round is a great success. We know what our technology can contribute, but it is of course an important signal that independent experts see the potential in valorizing residual products from the forest industry and producing green, sustainable products. It also shows that the analysis we do – that the demand for our products is increasing – is correct. In Europe alone, the need for advanced ethanol is expected to triple by 2025 and there is only a fraction of that production capacity available at this time.
But just because an idea is good and the need is great, the work with the application is not a quick or easy process. Describing the technology and the business model in a way that does the project’s potential justice has been a solid task.
On behalf of all Sekab, I would like to thank everyone who has helped us in this work so far.
- Our own team – from owners and board to colleagues who have contributed with their specialist skills and network of contacts.
- Our partners in Praj, AFRY, Vertoro and Domsjö Fiber.
- Our customers, current and future, who see the value a production facility would bring and have been prepared to say so in a letter of support for the application.
- Public actors, companies, universities and foundations which, by signing letters of support, have shown that we have a project with great potential.
The application has now been submitted. The Innovation Fund is expected to make the investment decisions in late autumn. We continue to work with our feasibility study and our project to take advantage of all the positive opportunities that are opened up through this.