The building sector is in the throes of upheaval: it is forced to find better, greener and safer materials, to substitute for conventional construction materials such as concrete and steel, which are major emitters of CO2 in the world. global scale. The current huge tropical timber market is also expected to eventually give way to improved timber in order to protect biodiversity and combat tropical deforestation.
Kebony® technology permanently transforms sustainable species, such as pine, into Kebony wood with properties comparable (and in some cases even superior) to those of tropical, hard and precious woods. This unique and environmentally friendly process is also a better alternative to traditional methods of wood treatment, which involve impregnation with wood preservatives.
At the forefront of this € 30 million fundraiser are Jolt Capital and Lightrock, who join longtime Kebony shareholders and are now represented on its board of directors. This capital injection will make it possible to stimulate and develop Kebony's growth projects in its main markets, which are Europe and the United States. Thanks to the funds raised, Kebony will be able to continue to develop in a market of 3 billion euros, and take advantage of major underlying trends conducive to the manufacture of sustainable materials for the residential and non-residential construction sectors.
“Kebony produces the most aesthetic and ecological wood on the market: wood of exceptional quality, respectful of the environment and affordable. In order to exploit the full potential of improved wood technologies, we are proud to announce that Kebony now counts Jolt Capital and Lightrock among its investors ”, said Norman Willemsen, CEO of Kebony.
“Jolt Capital has a strong interest in companies using materials science and leveraging their patented technologies to design sustainable products. Kebony is like this, with more than 20 years of R&D in wood technology to its credit, and a proven process that gives cultivated softwoods the properties that make tropical hardwoods successful. We are delighted to finance the development of its production sites in Europe, in order to support its vigorous growth and to offer an alternative to the deforestation of tropical forests ”, says Antoine Trannoy, Managing Partner at Jolt Capital.
“Kebony occupies a prominent place in the race to decarbonise our world, and aims to become the number 1 in wood modification technologies. We look forward to helping the company implement its growth strategy, move to a higher and very promising operational scale, and continue its solid growth trajectory ”, said Kevin Bone, Partner at Lightrock.
“The transformation of the company, carried out by the new management team, is a success. Thanks to the support of our new high-level investors, Kebony will enjoy greater financial flexibility and thus be able to accelerate its growth, consolidate its technological development roadmap and consider new acquisitions. The arrival of Didier Roux and Rebekah Braswell on the board of directors will strengthen Kebony's capacity for expansion and scalability. Combined with the company's unique selling proposition and double-digit growth, we believe all the ingredients are there for Kebony to unleash the full potential of sustainable and improved wood ”, says Cornelius Walter, newly appointed chairman of the board.
“Kebony saw its revenues grow 23% in the first half of 2021 compared to the first half of 2020, with a very good gross operating surplus. The turnover had already grown by 26% compared to the previous year, accompanied by an improvement in EBITDA and driven by the strategy of geographic expansion of the company in key markets. Thanks to this private placement, Kebony will gain considerably in financial flexibility, and will be able to give a boost to its growth strategy ”, says Thomas Vanholme, Chief Financial Officer of Kebony.