Finnish startup company Paptic Ltd is planning paper machine investment to upscale PAPTIC® patented technology and material production. Currently Paptic is negotiating the financing of the investment with a number of actors. The investment is scheduled to begin in 2018 and its impact on employment will be more than 30 people, as the company says in the press release received by Lesprom Network.
The EU Horizon 2020 Programme has granted approximately Euro 2 million project financing support to Paptic for paper machine investment and technical upscaling. Funding will enable a significantly faster and more efficient design project.
“However, funding alone is not enough, we also need good cooperation partners, for example research institutions and equipment suppliers”, says R&D Manager Karita Kinnunen-Raudaskoski.
The cost efficiency of Paptic’s upscaling model is based on the utilization of existing paper producing environments. In addition to being cost-effective this also allows for starting up production faster than building a whole new plant. Paptic is currently in discussions concerning investment locations and possible co-operation models with selected paper manufacturers.
“Judging from the number of contacts we have received both in Finland and from around the world there are many factories interested in the possibilities the new product can bring to expand plant operations and strengthen its ability to succeed in the future,” says Managing Director Mustonen, and encourages companies to contact Paptic if they are interested in cooperation. The market that Paptic aspires to, flexible packaging in its various forms, is many times that of a single machine capacity.
During the first two years of operation Paptic collected Euro 2 million in private capital. The Euro 10 million A series investment round to be collected by autumn 2017 will play a key role in the implementation of the future scaling investment.
Paptic’s wood-based material can replace plastic in many applications. Finnish Paptic Ltd’s patented technology can be used to produce eco-friendly fiber products for many packaging applications.
