Inter IKEA acquires a 12.5% stake in plastics deep tech NILO

A revolutionary six-year old New Zealand based startup, NILO turns plastic waste that can’t be recycled into industrial adhesives through a patented process that is clean, safe and energy efficient. This binder is combined with wood chips to produce a particle board and can be used to make MDF.

Such is the potential for NILO’s product and process, IKEA has acquired a 12.5% stake and has entered into a development and access agreement that will see subsidiary, Inter IKEA, able to use Nilo’s patented plastic waste-derived adhesive in the production of its wood-based products.

NILO’s product has huge potential for recycling and repurposing across the globe and Andiron is excited to help accelerate their journey to transform #plasticwaste from global problem into valuable solution. 

“We are happy to share that Inter IKEA has acquired a stake in NILO, a deep tech company that has developed and patented waste-derived adhesives for the production of wood-based boards. 

The world faces a non-degradable plastic waste challenge. Three hundred fifty million tonnes of plastic waste are generated every year. NILO’s team of chemists and engineers have created technology that repurposes this plastic waste. 

As members of The Business Coalition for a Global Plastics Treaty, we support the development of an ambitious and effective global treaty to end plastic pollution. The vision of the Coalition is a circular economy in which plastic never becomes waste or pollution, and the value of products and materials is retained in the economy.” 

Jon Abrahamsson Ring, CEO at Inter IKEA Group | IKEA