New Zealand-based start-up NILO has developed a game-changing technology that converts plastic waste into industrial-grade adhesives for the wood fibreboard industry. Backed by investors InterIKEA Group and Pacific Channel, NILO aims to revolutionize the industry by providing a safer and more sustainable alternative to traditional urea-formaldehyde adhesives.
NILO’s proprietary process repurposes polyethylene and polypropylene waste into a binding agent that can seamlessly integrate into existing wood fibreboard production. The technology has the potential to transform the $16 billion wood fibreboard adhesives market.
With lead investments from InterIKEA Group and Pacific Channel, NILO has secured US$8 million in funding. The company plans to use this capital to strengthen its team, refine its adhesive formulation, and conduct additional industrial trials.
“We need to look at sustainable extraction of resources from both new deposits and waste stockpiles,” said Marny Reakes, NILO board director. “NILO is a great example of a company tackling this tough problem with science and technology.”
As the world’s demand for sustainable materials grows, NILO’s technology couldn’t have come at a better time. With mounting legislative pressure and surging demand for eco-friendly materials, this Kiwi start-up is definitely one to watch.
