A feasibility study to upscale a biocomposite production line
A start-up business in Finland used RDP financing to carry out a feasibility study which helped lower the risks in upscaling their production capacity of biocomposites.
Aqvacomp Ltd. is a start-up business As the first experimental phase production unit and methods were proving to be successful, the company owners wanted to invest in a multi-million euro production line, creating 20 new jobs. Finnish RDP and Local LEADER Action Group covered 50% of the costs of a new business support tool, the investment feasibility study. The support enabled the company owners to plan carefully its highly important investment, including funding visits to potential suppliers abroad.in Sastamala commercialising university-level development work on new materials called biocomposites.
The study led to a large-scale investment both in Sastamala and in Rauma, where a new factory was opened linked with the existing pulp mill.
Six new jobs were created both in Sastamala and Rauma, while the new production supports eight supplier jobs.
New markets have opened up in South Korea and China, where giant companies such as Samsung and Volvo are changing plastic parts to lighter, more durable and more environmentally friendly biocomposites.
A large South Korean plastic company also made a sizeable private investment in Aqvacomp Ltd., which boosted its development.