Metsä Spring invests in Innomost, a startup producing valuable bioactive products from birch bark
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. The financing round totals approximately EUR 5 million, consisting of private investments and public financing from Business Finland and ELY Centre for Central Finland. Metsä Spring is participating in the round with Innovestor Technology Fund and other private investors. Innomost intends to produce valuable ingredients for the cosmetics and personal care industry, as well as for other industrial applications. Metsä Group has several mills, which may provide birch bark for the production. The company’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. Especially betulin and suberin have also other potential industrial uses. The Finnish skincare brand Lumene has launched a couple of cleansing products with Innomost ingredients.