Modvion Secures SEK 67 million in Funding
Modvion, a leader in advanced wood technology, have announced the successful closing of a SEK 67 million financing round.
Alongside capital from existing investors, a new investor and strategic partner joins Modvion cap table. The latest funding round, with additional investments from existing investors, underscores their robust backing for Modvions groundbreaking wooden wind towers and the companys pivotal role in driving sustainable infrastructure solutions.
A key highlight of this funding round is CMPC, one of the worlds largest forestry companies based in Chile. CMPC is eager to support Modvions coming global expansion and offers a strategic partnership with an emphasis on shared values and vision for future innovations. The company is recognized by the Dow Jones Sustainability Index as one of the top sustainable companies globally, for the second year in a row.
“We are pleased to have increased support from our investors who share our vision and ambitious plans, and especially welcome CMPC, which will be a strong partner in Modvions upcoming global expansion. This investment will facilitate our development and expand our reach”, says Otto Lundman, CEO of Modvion.
The infusion of capital will enable Modvions continued development of next-generation product development, production and expansion of marketing and sales capabilities.
“CMPC is very excited of its investment in Modvion, as it aligns with our commitment to sustainability and innovation and represents a significant step forward in advancing the construction with wood and the development of these more sustainable construction solutions. We have an enthusiastic dedicated team of technical, strategic, and commercial experts to support Modvions growth,” says Bernardita Araya, CMPC Ventures Manager.
Modvion enables climate-neutral wind power by building wind turbine towers from laminated wood – nature’s carbon fibre. Wood is stronger than steel at the same weight, stores carbon for a long time and has a lower cost. Modvions wooden towers are built in modules, which enables taller towers and increased electricity production.
Modvion is a member company of Paper Province.
Read the full press release here: https://modvion.com/news/modvion-secures-sek-67-million-in-funding/
A key highlight of this funding round is CMPC, one of the worlds largest forestry companies based in Chile. CMPC is eager to support Modvions coming global expansion and offers a strategic partnership with an emphasis on shared values and vision for future innovations. The company is recognized by the Dow Jones Sustainability Index as one of the top sustainable companies globally, for the second year in a row.
“We are pleased to have increased support from our investors who share our vision and ambitious plans, and especially welcome CMPC, which will be a strong partner in Modvions upcoming global expansion. This investment will facilitate our development and expand our reach”, says Otto Lundman, CEO of Modvion.
The infusion of capital will enable Modvions continued development of next-generation product development, production and expansion of marketing and sales capabilities.
“CMPC is very excited of its investment in Modvion, as it aligns with our commitment to sustainability and innovation and represents a significant step forward in advancing the construction with wood and the development of these more sustainable construction solutions. We have an enthusiastic dedicated team of technical, strategic, and commercial experts to support Modvions growth,” says Bernardita Araya, CMPC Ventures Manager.
Modvion enables climate-neutral wind power by building wind turbine towers from laminated wood – nature’s carbon fibre. Wood is stronger than steel at the same weight, stores carbon for a long time and has a lower cost. Modvions wooden towers are built in modules, which enables taller towers and increased electricity production.
Modvion is a member company of Paper Province.
Read the full press release here: https://modvion.com/news/modvion-secures-sek-67-million-in-funding/