Looking ahead at a market that, says Trifilon, is expected to exhibit rapid growth in the coming years, the company has announced measures to ensure it will be part of that growth.
The Swedish producer of biocomposite plastics, which traces its roots back to Linköping University, has appointed a new CEO and added two new members to its board of directors. The company also recently concluded a new share issue worth 10 million SEK.
The new CEO, effective 29 April, is Johan Thiel, previously the CEO of helmet safety company MIPS. He is replacing Martin Lidstrand, a co-founder of the company, who will transition into Trifilon’s CTO role and take on the responsibility of technology and product development.
Newly named to the board of directors are Rebecka Eriksson from Eriksson Capital – a shareholder – and Ulf Söderström. The latter has over 20 years of experience in a number of Sweden’s largest companies including Autoliv, Essity, SCA, Boliden, and Scania. Rebecka has extensive experience with long-term investments in growth companies focused on the future and has a 13% holding in Trifilon via Eriksson Capital with a 13%.
“Trifilon is a long term and climate important investment from our part,” she explained. “We believe that Trifilon can be a part of the future where circular and renewable materials permeate all products.”
Söderström and Johan Thiel have also purchased stakes in Trifilon. Moreover, next to his role as board member, Ulf Söderström will, together with Johan, also be involved in the operational management of the company.
Trifilon develops and delivers sustainable biocomposite plastics for demanding products, both locally here in Sweden and around the world. The company’s first commercial offerings launched in 2017 and incorporated hemp fibres into a fossil-based matrix, creating, for example, the world’s first biocomposite suitcase from EPIC Travelgear. Adding hemp lowers the CO2 impact of plastic production by more than one-third, says Trifilon, in large part because hemp crops sequester carbon.
“We believe that Trifilon has an offer that is important for our future,” said Söderström.
“Most people agree; the environment is not doing well and we must do something about it, now. Trifilon stands for sustainable solutions for parts of the problem,” concluded Thiel.