Sustainable pioneer, Kebony, secures €30 million investment in funding round

Thomas Vanholme, Chief Financial Officer of Kebony, and Norman Willemsen, Chief Executive Officer of Kebony

Kebony has announced a successful €30 million funding round led by Jolt Capital and Lightrock. The company's vision is to reduce CO2 emissions and tropical deforestation using its patented wood modification techniques, which produce superior wood in an environmentally friendly way.

The key disruptive trends in the construction industry are expressed by the need for greener, safer and better products, as the standard construction materials, concrete and steel, are large emitters of CO2 globally. In addition, the current large market for tropical wood is set to be replaced by enhanced wood to protect bio-diversity and reduce tropical deforestation.

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Fulshear Modern Ranch Estate, Texas, built using Kebony

Kebony technology permanently transforms sustainable wood species such as pine into Kebony wood with features that are comparable, and in some cases superior, to those of precious tropical hardwoods. This unique environmentally friendly process is also a superior alternative to traditional wood treatment based on impregnation with wood preservatives.

Kebony’s €30 million financing round - led by Jolt Capital and Lightrock - will join longstanding Kebony shareholders such as Goran, MVP, FPIM, PMV and Investinor, of which the latter two will remain represented on the Board of Directors. The capital injection will expand and accelerate Kebony’s growth initiatives in core markets – Europe and USA. The funding will enable Kebony to further penetrate a €3 billion market, leveraging underlying megatrends of producing sustainable materials for the residential and non-residential construction industries.

“Kebony produces the most beautiful and ecological wood on the market, with a superior quality that's both environmentally friendly and cost-effective," says Norman Willemsen, Chief Executive Officer of Kebony. "To further leverage opportunities within the enhanced wood technology industry, we're proud to announce Jolt Capital and Lightrock as new investors.“

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Kebony-clad cabin in Hammerfest provides a pit stop for Arctic Circle adventures

Thomas Vanholme, Chief Financial Officer of Kebony, further comments: “Kebony reported a revenue growth of 23% in the first half of 2021, compared to the same period in 2020, with a strong positive EBITDA. The revenues in 2020 had already increased by 26% year-over-year, with a significant EBITDA improvement, driven by the company’s geographical growth strategy in key markets. The finalisation of the private placement significantly strengthens Kebony’s financial flexibility and supports the accelerated growth strategy.”

To find out more about Kebony, see www.kebony.com.

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