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Kebony

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Kebony
Norman Willemsen

Kebony enables the production of sustainable and eco-friendly timber at low cost, and can thereby transform the construction industry.

Norman Willemsen, CEO Kebony

Ecological alternative to tropical hardwood

The Norwegian company Kebony has developed a patented biological process for modifying fast-growing, sustainable sourced softwood into sustainable wood with the same look and properties as tropical hardwood. The concept is clearly a success, as demand is growing rapidly. So fast, in fact, that the Norwegian production plant could no longer keep up.

To solve the capacity problems and to enable further growth, Kebony decided to build an additional production facility in Western Europe. Flanders was chosen for its interesting logistical location and infrastructure, in addition to the financing opportunities. In 2015, Kebony raised 177.5 mln. Norwegian krones ( 19.05 mln. euro) for the construction of a second European plant.

Kebony Character cladding

Partners in ambition at Kebony

The financing was done through the issue of new shares for an amount of NOK 140 million and with a subordinated loan of NOK 37.5 million. PMV and Investinor were the main investors in this new round, which was open to both new and existing investors. The new plant was operational in 2018 and added an annual production capacity of 20,000 m³. The new plant enabled Kebony to respond to a strong sales increase of 30% per year. The company has received numerous awards and accolades for its environmentally friendly technology and innovation, including being named a World Economic Forum Technology Pioneer, repeated recognition as a Global Cleantech 100 company, and a 2019 Building, Design + Construction Top 101 Products Reader’s Choice Winner.

Kebony

Investment team Kebony

Marie Delbeke Head of Equity Investments +32 (0)2 229 52 30
Roald Borré Group Manager Venture Capital roald.borre@pmv.eu +32 (0) 2 274 63 71