Fibenol

Fibenol is a 100% private equity-based company focused on creating sustainable biomaterials. Company offer novel products from a renewable source to open up new frontiers for many industries and produce sustainable biomaterials from renewable secondary use biomass that create novel value chains that don’t just replace but redefine.

The planned project stands out internationally for its role in replacing fossil chemicals with sustainable alternatives and creating globally significant lignocellulosic bioprocessing on an industrial scale, as until now, this approach has only been used in laboratories. The development of such a project allows to store carbon from low-quality wood over a more extended period, significantly reducing the emissions that fossil resources would generate.

"Coming from Estonia, we recognise that countries rich in wood resources aren't fully utilizing their potential, inspiring us to find solutions. With the completion of our demo plant commissioning, setting up the first commercial-scale biorefinery is our next goal. We want to make the most of local woody biomass and leverage Latvias inherent bioeconomy advantage. Latvia has demonstrated significant interest in enhancing the bioeconomy and promoting innovation growth through its supportive business environment for green technology solutions. Fibenol represents more than just one large industrial plant project; we see that in the future, the whole Baltics have the potential to lead the way for fossil-free industry models," explains Raul Kirjanen, majority shareholder of Fibenol.

Read more: 

• Latvia on Fibenol's radar for biorefinery investment, potential €700 million development
• Latvia welcomes new investment in Bioeconomy. Latvian Prime Minister Evika Silina welcomes new investment by the Estonian company Fibenol supporting the project implementation in Latvia
• Memorandum of Understanding signed to develop the biorefinery sector