LIGNIA Wood Company secures £7.5m from Downing, Development Bank of Wales, and Woodford Investment Management for its first production plant
The funding will support the construction of the company's first commercial facility in Barry.
LIGNIA Wood Company produces sustainable modified timber as an alternative to scarce hardwoods, using treated pine from managed plantations.
LIGNIA Wood Company has secured £7.5m in funding from Downing, the Development Bank of Wales, and Woodford Investment Management to build its first commercial manufacturing plant in Barry, Wales.
The company creates modified timber from sustainably sourced pine, offering a viable alternative to high-value hardwoods like teak and oak amid declining supplies. The new facility will have an annual capacity of 15,000 cubic metres.
Downing and the Development Bank of Wales joined existing backer Woodford Investment Management in the round to scale operations for the Welsh business.
From the founder
"With supply of many hardwoods constrained due to regulation, this has opened the market for modified wood, making now an excellent time to expand our business. The teams from Downing, the Development Bank of Wales and Woodford Investment Management have demonstrated great expertise and a track record in investment in sustainability sectors which has made them a logical fit for us and we are very excited to be working with them."
Hans Ng
CEO at LIGNIA Wood Company
Investor perspective
"We are constantly striving to find exciting businesses in new markets. LIGNIA is a great example of this, as a product with a clear technical advantage for which there is already high demand."
Sean Moore
Investment Director, Downing
Use of funds
- 01Build out infrastructure
Investors
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About the company
LIGNIA Wood Company
LIGNIA Wood Company manufactures sustainable modified timber to replace traditional hardwoods.