Oji Holdings Corporation, a global leader in forest-based materials, has acquired a 20% stake in Nordic Bioproducts Group (NBG), an Espoo-based deep tech biomaterials company originating from Aalto University. The partnership centres on industrial collaboration, technology commercialisation, and international market expansion.
For NBG, the investment represents a significant milestone in scaling its patented AaltoCell® technology and accelerating the global adoption of high-value, low-impact bio-based materials. For Oji, the partnership demonstrates strategic confidence in AaltoCell® as an innovative solution to enhance forest-based value chains beyond conventional pulp and paper products.
The companies are working together to advance microcrystalline cellulose (MCC), a material widely used in pharmaceuticals, nutraceuticals, food, and personal care applications. The global MCC market is valued at around US$1.33 billion and is projected to double by 2035.
NBG's AaltoCell® technology directly addresses the stricter regulatory requirements, higher quality standards, and growing sustainability demands that drive the market. Compared to traditional MCC production methods, AaltoCell® significantly reduces greenhouse gas emissions, energy consumption, water use, and chemical inputs — while maintaining the high purity and quality required for pharmaceutical-grade applications.
Enter Espoo had a role to play in the story of NBG and Oji coming together for the first time, with Mayumi Shimizu, Enter Espoo's Senior Business Advisor, bringing Oji to visit NBG in Otaniemi, Espoo, in 2023.
This is the second Espoo-based company that Oji has invested in over the past few years. In 2024, Oji acquired Walki, a Finnish circular economy forerunner.
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Image: Nordic Bioproducts Group