EC Invested €2.5 million into Ukrainian Startup that Makes Paper from Fallen Leaves

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https://www.euronews.com/next/2022/12/21/eu-backs-ukrainian-green-tech-company-that-makes-paper-from-fallen-leaves

Releaf startup raised €2.5 million from the European commission. Ukrainian Startup submitted to the commission a project of a pilot production line of cellulose from the fibers of fallen leaves, which will produce raw materials using a unique technology developed and patented by the company. The total cost of the submitted project is 3.5 million euros, of which the European Commission will finance 2.5 million in the form of a grant. In addition, the total amount of funding may exceed €10 million, as the European Commission fund has also agreed to additionally invest in the further scaling of the project. According to the approved development plan, Releaf Paper will use investment funds to establish two more production lines in different countries within the next five years.

Source: https://www.euronews.com/next/2022/12/21/eu-backs-ukrainian-green-tech-company-that-makes-paper-from-fallen-leaves , https://www.instagram.com/p/CmbluMQgv6z/?hl=en

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