Kebony raises €19m to build second factory in Belgium
10 November 2015Kebony, a sustainable alternative to tropical hardwood, has raised NOK177.5m (€19.05m) to fund a second European factory.
Following many years of strong growth, the demand for Kebony is about to exceed current production capacity at its facility in Vold, Norway. The proceeds of the raised capital will primarily be used to build a second factory in Belgium, scheduled to be operational by 2017.
Developed in Norway, the Kebony technology is an environmentally friendly, patented process, which enhances the properties of sustainable softwood with a bio-based liquid.
The process permanently modifies the wood cell walls giving Kebony premium, hardwood characteristics.
