Circular economy company CH-Bioforce receives rare EU funding of up to €15 million
Raisio-based CH-Bioforce aims to build its own biomass processing plant in Raisio in 2024. The company’s business idea is based on the use of industrial and especially agricultural side streams. The regional development company Turku Science Park Ltd. has been involved in the company’s journey since 2015.
CH-Bioforce Oy, based in Raisio’s Smart Chemistry Park, received a significant funding decision from the European Innovation Council in June 2022 as part of the EIC Accelerator programme. The funding will be up to €15 million, with the final amount and form of support to be determined as the project progresses. Previously, CH-Bioforce has received EIC grant funding for SMEs seeking strong international growth with an innovation background primarily in deep tech research.
CH-Bioforce grew from a garage to the Smart Chemistry Park and to the world
Turku Science Park Ltd. has been alongside CH-Bioforce since 2015.
“It’s great to see how the company has grown and keeps growing! Three friends were developing their idea in a garage in Parainen, when we spotted their growth potential and encouraged them to move to Smart Chemistry Park, which has labs and office space for chemical companies. We have helped and continue to help them as much as we can, including finding the right environment and new business partners, and strengthening their supply chains for bio- and circular economy raw materials,” says Network Manager Reeta Huhtinen.
The company now aims to build a biomass processing plant in Raisio in 2024.
“The EIC Accelerator funding is a significant achievement. It boosts our confidence. Our business plan has been thoroughly reviewed and approved, which will also help us to obtain further funding,” says Petri Tolonen, CEO of CH-Bioforce.
In line with its operating concept, the development company Green Industry Park has assisted in the next demo facility phase.
CH-Bioforce is at the heart of the circular economy
CH-Bioforce’s business idea is based on the utilisation of industrial and especially agricultural side streams – the waste-to-value approach is at the heart of the company’s operations.
“In agriculture, a lot of usable raw materials are left on the fields, from where, according to the current model, they are incinerated and not recycled. With our solution, for example, lignin, hemicellulose and cellulose can be separated almost completely and very cleanly from straw from Finnish fields. These can be used to replace oil-based raw materials in the manufacture of a wide range of consumer products, for example,” says Tolonen.
CH-Bioforce’s technology can be used with almost any biomass, and its performance is not tied to any specific biomass.