Almi Invest GreenTech invests in Cellfion

In Sweden, Almi Invest GreenTech is investing $463,000 in Cellfion, which develops a bio-based membrane for energy storage, the former said in a release.

Finnish Voima Ventures and Klimatet Invest are also participating in an investment of $1.2 million in Cellfion. The new financing will be used for product development and tests. Cellfion has developed membranes that are made from biomaterials from the forest, making them sustainable, recyclable and competitive in price, Almi said.

“With our investment in Cellfion, we are driving the development of new storage technologies, which enables the transition to renewable energy sources and reduces emissions of greenhouse gases, said Karin Edström, Investment Manager at Almi Invest GreenTech. “With its stable bio-based membrane, which is both cheaper and more flexible than today’s commercial membranes, Cellfion is in a very good position to enter the market.”

Almi Invest GreenTech is a venture capital fund that invests in companies that reduce emissions of greenhouse gases.

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