KTH Holding invests in cleantech start-up Cellfion AB
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With the emergence of new clean energy technologies, a key component is a membrane. However today these membranes used in e.g. hydrogen production are non-bio based and in need of improved performance. Based on leading research at KTH, Linköping University and RISE the new startup Cellfion AB has been formed to offer membranes based on biomaterials from the forest. Cellfion is established by leading researchers, entrepreneurs and with support of KTH Holding, LiU Invest and private investors.
Cellfion develops and manufactures bio-based ion-selective membranes for use in electrochemical energy conversion and storage devices. The membranes are made from nanocellulose fibrils, a material derived from wood and the most abundant biopolymer on the planet. The technology was developed based on a growing need for high performing and more cost-effective clean energy devices to tackle growing global warming. Cellfion is focusing on two target applications: Organic Redox Flow Batteries, a form of large-scale energy storage which can be used to support the electrical grid during times of unreliable renewable energy production from wind and solar, and PEM Electrolysers, commonly used to produce green hydrogen.
The development of the Cellfion technology brought together a collaboration between three of Sweden’s top research institutes. KTH, division of Fibre and polymer technology, who worked with the fabrication and chemical modifications of the material, Linköping University’s Laboratory of Organic Electronics, who worked with the validation of the membranes in electrochemical devices and Research Institute of Sweden (RISE) Printed Electronics Arena in Norrköping, who focused on the production and technology validation of the material.
Cellfion AB, has now been formed with the support of investments from KTH Holding, LiU Invest and private investor Hans Hentzell former CEO of ICT Sweden. He will take on a board role in the company together with three other experienced board members, Ulf Troedsson, former CEO of Siemens Nordic a global energy company, Magnus Wikström, former CTO of BillerudKorsnäs a major Swedish pulp and paper manufacturer, and Magnus Berggren, well-renowned professor at Linköping University and co-founder of several Swedish startups.
“This is a real deep-tech company- based on strong research- exactly what we want to invest in and support at KTH Holding. We are pleased to take part in forming the company and supporting their journey in taking on this growing market of high performing sustainable membrane technology” – Daniel Carlsson, Investment manager, KTH Holding AB
The capital injection enables Cellfion to further explore its business model whilst validating its technology against the market, strengthening Cellfion’s opportunities and allowing the company to develop a scalable business model. Cellfion aims this autumn to begin delivering samples to industry partners for validation and feedback bringing the technology one step closer to market.
“We feel extremely fortunate to be working with such incredible technology, and we have the deepest gratitude for the researchers at KTH, LiU and RISE for the years of hard work going into the development of the technology. We hope that by driving forward this new bio-based technology that we can not only contribute to the sustainability of the materials that are being used in the industry but also enhance the efficiency of electrochemical energy devices which are key technologies for the global shift from fossil fuels towards renewable clean energy”- Liam Hardey, CEO, Cellfion AB
For further information, please contact:
Liam Hardey , CEO Cellfion AB
Phone: +46 70 450 80 83
Cellfion AB – Cellfion AB is a Swedish deep-tech start-up that develops and manufacture bio-based membranes for electrochemical energy conversion and storage devices. Cellfion’s technology is based on nano-cellulose fibrils, a material that is derived from wood and the most bio-mass polymer on the planet.
KTH Holding- KTH Holding invests in early stage promising start-up companies based on research or education at KTH, Royal Institute of Technology. The investment portfolio consists of more than 40 companies with successful examples such as Atlas Antibodies, Volumental and Airmee.
LiU Invest- LiU Invest invests in companies built on projects and ideas derived from Linköping University. Our focus is investing at an early stage, either we work as a single investor or we co-invest with others.