ETF leads €12 million investment round in Kebony®

ETF leads €12 million investment round in Kebony®

Kebony has completed a €12 million financing round led by the Environmental Technologies Fund (ETF). The investment is to be used to support Kebony in its international expansion.

A third of the world’s rainforests has disappeared in the last 50 years - equivalent to 8.5 million football pitches a year. The global demand for tropical hardwood simply cannot be satisfied sustainably - a major environmental issue. Kebony offers a solution, with a sustainable and cost efficient alternative to tropical hardwood. Kebony’s proprietary wood modification technology transforms conventional, fast growing, sustainable wood species into wood which looks, feels and performs like tropical hardwood.

Christian Jebsen, CEO of Kebony, says, ”Kebony is a revolution in wood products. Our exciting new wood materials are already used with enthusiasm by architects all around Europe. Kebony’s products resemble teak and other tropical varieties of wood. It is dark, very durable, and practically maintenance-free. The tropical rainforest, one of the world’s richest natural environments, is on the verge of destruction and the impact on climate change could be very severe. We believe Kebony is a solution for the future and I am very pleased to have ETF on board to help us achieving our global ambitions”.

Henrik Olsen, Partner of ETF, added, ”Deforestation is one of the most significant environmental problems the world faces - it already accounts for 20% of greenhouse gas emissions. In particular tropical hardwoods like teak that take 100 years to grow are being cut down rapidly as demand for durable hardwood continues to grow. To give just one example, it is being used for boat decking, where its quality and durability is considered vital. Kebony offers a sustainable alternative, and is being adopted globally by these most discerning buyers. In fact Kebony has great potential to replace tropical hardwood in many multi-billion markets, and so make a major contribution to saving precious rain forests across the globe.”

Notes to Editors:

About Kebony:
Kebony commercializes contemporary, long lasting and environmentally friendly wood products. Kebony’s proprietary wood modification technology transforms sustainable wood species into wood with comparable attributes to tropical hardwood. The process delivers a sustainable alternative to tropical hardwood and traditional toxic wood protection. The Company is based in Norway where it operates a state of the art production facility with 30,000 cubic meters of capacity. Kebony commercializes its products into the global cladding, decking and flooring markets and offers licensing packages for the brand and the technology.
For further information see www.kebony.com

About Environmental Technologies Fund (ETF):
Environmental Technologies Fund L.P. is a £110m venture and growth capital investment fund with a highly-focused mission:”To support and finance fantastic growth companies whose products and services deliver a significant environmental and economic benefit”. ETF provides entrepreneurs with a top-quality venture capital group in Europe dedicated solely to Cleantech. The team is backed by leading institutional investors and has a great deal of experience - gathered over decades - of working in Venture Capital and with environmental companies. ETF is supported by the European Communities Growth and Employment Initiative, MAP – the ETF Startup Facility.
For further information see www.etf.eu.com

ENVIRONMENTAL TECHNOLOGIES FUNDETF Manager LLP*20 Berkeley SquareLondon W1J 6EQOffice: +44 (0) 20 7318 0719Mobile: +44 (0) 7766 516 466Email: fabrice@etf.eu.com
"ETF wins Investor Allstars' Cleantech Investor of the year 2009"
For more information see www.etf.eu.com

* ETF Manager LLP Company Number: OC312083 is a Limited Liability Partnership registered in England with Registered Office 20 Berkeley Square, London, W1J 6EQ. ETF is authorised and regulated by the Financial Services Authority with FRN 453441.









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