LEAD alum Cellfion Raises 78 million

LEAD alum Cellfion has secured 6.9 million euros in funding—approximately 78 million SEK—and has simultaneously entered into a strategic partnership with a global Japanese company. Existing shareholders, including Voima Ventures, Klimatet Invest AB, and Almi Invest GreenTech, are also participating in the financing.

Among other things, the capital will be used to establish Cellfion’s first membrane production facility in Sweden—an important step toward large-scale production and commercialization.

– This is a transformative step for Cellfion. “We now have the capital and the resources to establish our first roll-to-roll manufacturing facility in Sweden, which will provide us with the industrial capacity needed to move toward commercial-scale production,” says Liam Hardey, CEO of Cellfion.

“In six years, Cellfion has taken research results from Linköping University and KTH—through the trainee program here at LEAD—and brought them to where they are today. They’ve worked with incredible focus, and we at LEAD are really looking forward to continuing to follow their journey forward,” says Catharina Sandberg, CEO of LEAD.

Cellfion develops advanced materials based on functionalized nanocellulose, with potential applications in areas such as energy, separation, and industry. In parallel with the upscaling of its membrane operations, the company has identified several new business opportunities for its technology platform.