Swedish biocomposite-maker Trifilon announced that it has successfully concluded a new round of investments and recruited a new, top-tier CEO, Johan Thiel, who formerly headed the successful MIPS. Thiel, whose leadership at MIPS made the helmet lining technology a household name, assumed the new role for Trifilon on April 29 soon after the company concluded a new share issue worth 10 million SEK.
The Nyköping-based company also announced changes to its board of directors, which now includes Rebecka Eriksson from Eriksson Capital – a shareholder – and Ulf Söderström. The latter has over 20 years of experience in a number of Sweden’s largest companies including Autoliv, Essity, SCA, Boliden, and Scania. Söderström and Thiel purchased stakes in Trifilon signaling their belief in the business, which develops plastic compounds with better environmental metrics.
Trifilon’s first commercial offerings mixed hemp fibers with conventional plastics to form regular consumer items – like the world’s first biocomposite suitcase from EPIC Travelgear. Trifilon says that adding hemp lowers CO2 impact of plastic production by more than one-third in large part because hemp crops sequester carbon. The company offers the materials and sustainability claims to manufacturers who face customers that want to see second generation eco-choices and who want to know why exactly the choices are more sustainable. The market for bio composite materials is expected to grow strongly. Trifilon is now strengthening the company with new capital and new skills to meet the increased demand and to take advantage of the large business potential that the market offers. Johan Thiel took on his new position on April 29th.
Johan has a strong and broad entrepreneurial background with a history of creating business value for both customers and consumers, that leads to strong growth and increased shareholder value. The former CEO and co-founder, Martin Lidstrand, is simultaneously appointed CTO – Technical Manager for Trifilon, with the primary responsibility for technology and product development. Ulf Söderström will, in addition to his work on the board, together with Johan be active in the operational management of Trifilon.
Rebecka Eriksson is elected as a regular member to the Board of Directors for Trifilon. Rebecka has extensive experience of long-term investments in growth companies focused on the future. Rebecka is already an owner of Trifilon via the investment company Eriksson Capital with a 13% ownership stake.
Trifilon is now strengthened, with broad international experience, for further growth in a demanding industry. Johan has a history from an innovation-driven start-up environment and Ulf from major industrial companies. With both Johan and Ulf as operational forces in the company, Trifilon is equipped to take the next step for further development and growth.
-We believe that Trifilon has an offer that is important for our future. Plastics will not go away and the need for quality and commercially defensible fossil-free alternatives are enormous. Trifilon can already offer these products and together with Trifilon’s customers, we will establish the conditions for international expansion, says Ulf.
It is a unique benefit to work with companies like Trifilon. Trifilon creates opportunities to help change the world, based on research and innovation. It is an incredible force in the ongoing trend of change that we are experiencing. Most people agree; the environment is not doing well and we must do something about it, now. Trifilon stands for sustainable solutions for parts of the problem, says Johan.
-Trifilon is a long term and climate important investment from our part. We believe that Trifilon can be a part of the future where circular and renewable composites permeate all material. Usually, it is a challenging journey to reach the market with new offers. However, with the overall experience and the product offering Trifilon has it feels safe, says Rebecka.
It is a unique benefit to work with companies like Trifilon. Trifilon creates opportunities to help change the world, based on research and innovation. It is an incredible force in the ongoing trend of change that we are experiencing. Most people agree; the environment is not doing well and we must do something about it, now. Trifilon stands for sustainable solutions for parts of the problem, says Johan.
-Trifilon is a long term and climate important investment from our part. We believe that Trifilon can be a part of the future where circular and renewable materials permeate all products. Usually, it is a challenging journey to reach the market with new offers. However, with the overall experience and the product offering Trifilon has it feels safe, says Rebecka.
Nyköping 2020-04-29
For more information, please contact:
Johan Thiel mobil +46 73 399 67 75
Ulf Söderström mobil +46 70 618 95 95
Martin Lidstrand mobil +46 70 666 77 63