Metsa will join Innomost Ltd in its new venture to use birch bark to produce a range of ingredients for use in cosmetics and personal care products. Metsä has several mills that can provide birch bark. Source: Timberbiz
Innomost’s present product portfolio includes betulin, suberin, birch charcoal powder and birch bark powder. These ingredients can be used in different cosmetic product categories, including skincare, hair care, body care, decorative cosmetics and oral care.
Betulin and suberin have other potential industrial uses. Finnish skincare brand Lumene has launched a couple of cleansing products with Innomost ingredients.
Metsä Group’s innovation company Metsä Spring Ltd has made an equity investment in Innomost Ltd, a startup converting forest industry side streams into high-value bioactive products.
“We are excited to support Innomost on its path to commercial success. The link to Metsä Group’s business ecosystem is strong, because our industrial side stream, birch bark, is used as the raw material in making the Innomost products.
“Resource-wise use of wood has always been in the focus of Metsä Group’s development activities. By collaborating with startups, such as Innomost, circular economy can be taken to a new level,” said Erik Kolehmainen, VP, Corporate Venturing at Metsä Spring and new Board member of Innomost.
“It is our privilege to work with a great forest industry company like Metsä Group. The partnership affects us dramatically in a positive way. We have now a solid partner that gives us reliability and supports our long-term plans.
“Additionally, we have secured our raw material supply with Metsä Group. There is no limit, only our imagination, what we can do together from these side streams. I am looking forward to collaborating and introducing our sustainable products to customers,” Sami Selkälä, CEO at Innomost said.
Metsä Spring was established in May 2018 with the aim of strengthening Metsä Group’s business ecosystem in the long run. Innomost is the sixth project in Metsä Spring’s portfolio. Other projects include equity investments in startups Woodio Ltd and Montinutra Ltd, the ExpandFibre collaboration with Fortum, as well as the in-house projects developing textile fibres and 3D packaging products from wood pulp.
