ALTANA AG and UB FIGG Invest in Finnish Technology Company
Image courtesy of ALTANA.
The Finnish sustainability fund UB Forest Industry Green Growth Fund (UB FIGG) and the specialty chemicals group ALTANA are investing in the technology company NORDTREAT. The company specializes in the development and production of innovative, high-performance, and environmentally friendly flame retardants. NORDTREAT relies on bio-based raw materials, and its products comply with the latest fire protection regulations. The company’s NORFLAM® products are already being used successfully to protect more than 2,000 buildings and structures around the world.
NORDTREAT was established in 2015. Since then, the company has expanded its product and service portfolio for bio-based, environmentally friendly flame retardants. In addition to the investment by UB FIGG and ALTANA AG, the company has also agreed with ALTANA’s BYK division to develop bio-based flame retardant additives. “With its certified fire retardants and flame retardant systems, NORDTREAT has already developed environmentally friendly products and successfully launched them on the market. At the same time, we are seeing a growing demand for bio-based solutions for flame retardant additives. Building on this, we are pooling our innovative strength to jointly develop novel, bio-based additives for fire protection,” says BYK Division President Dr. Jörg Hinnerwisch.
Sakari Saarela, a partner at UB FIGG comments: "NORDTREAT is an exciting company with excellent products, replacing legacy fire retardancy products with a new, innovative bio-based alternative. We are very happy to support NORDTREAT’s growth, serving especially the wood-based construction industry in Europe and globally. We value our partnership with ALTANA in the investment due to their expertise and resources in the specialty chemicals sector, and we are looking forward to the cooperation.”
“In ALTANA and UB FIGG, we have gained two strong partners for our sustainable business model who will help us to fully exploit the growth potential of our technology,” says Aki Borgentorp, CEO of NORDTREAT. “With ALTANA's BYK division, we also have an innovative partner with whom we can jointly drive the transformation towards more environmentally friendly product solutions.”
The parties have agreed not to disclose the investment amount.
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