Nordic Bioproducts Group (NBG), a Finnish biomaterials company originating from Aalto University, has secured a strategic minority investment from Japan’s Oji Holdings Corporation, one of the world’s leading forest-based materials groups. The investment gives Oji a 20% stake in Nordic Bioproducts Group and establishes a long-term partnership focused on industrial collaboration, technology deployment, and global market development.
For Nordic Bioproducts Group, the partnership marks a significant step in the international scaling of its AaltoCell™ technology and the expansion of high-value, low-impact bio-based materials into global markets. For Oji, the investment reflects confidence in NBG’s patented AaltoCell™ technology as a new way to upgrade forest-based value chains beyond traditional pulp and paper.
“This partnership is about creating new value from renewable forest resources,” said Olli Kähkönen, CEO and co-founder of Nordic Bioproducts Group. “With AaltoCell™, the same forest biomass that used to go mainly into paper can also become high-margin cellulose ingredients for pharma and other demanding applications, and we can do it with a significantly lighter environmental footprint.”
Why this partnership — and why now
The global forest industry is undergoing a structural transition as demand for traditional paper products declines and pressure increases to develop higher-value, sustainable alternatives from existing biomass and industrial assets. At the same time, manufacturers across regulated and performance-critical sectors, such as pharmaceuticals, food, and cosmetics, are demanding materials that combine verified sustainability with industrial reliability.
The cooperation between Oji and Nordic Bioproducts Group will initially focus on microcrystalline cellulose (MCC), where demand is growing rapidly across pharmaceuticals, nutraceuticals, food, and personal care products. The global MCC market is valued at USD 1.33 billion, and demand is projected to double by 2035, supported by increasing regulatory scrutiny, rising quality requirements, and growing focus on sustainable products and production methods.
Nordic Bioproducts Group’s AaltoCell™ technology was developed to address this need. Independent life-cycle assessment indicates substantial reductions in greenhouse gas emissions, energy use, water consumption, and chemical inputs compared to conventional MCC production methods. At the same time, AaltoCell™ delivers the high quality and purity required for pharmaceutical applications.
Beyond MCC as the first commercial application, both companies view AaltoCell™ as a broader platform technology. The same process principles can be applied over time to produce other cellulose-derived materials, enabling multi-product manufacturing models where existing forest biomass and industrial assets are used to generate significantly higher value alongside conventional pulp and paper – a practical step toward more integrated biorefinery 3.0 models.
“We see strong potential in technologies that enable existing forest resources and industrial sites to produce higher-value materials in a more sustainable way,” said Hiroyuki Isono, CEO at Oji Holdings. “Nordic Bioproducts Group’s AaltoCell™ technology and Finnish production base provide a credible platform for this development, supporting our vision to move towards more sustainable products made from forest-based biomass. We are pleased to support its industrial scale-up.”
Global scaling, anchored in Finland
Translating advanced research into industrial reality has been a core focus for Nordic Bioproducts Group. Founded on research originating from Aalto University, the company established a commercial-scale production facility in Lappeenranta, Finland, in 2024. The facility is designed for continuous processing and advanced process development, with an initial focus on high-quality microcrystalline cellulose (MCC) for demanding applications such as pharmaceutical excipients. The site holds EXCiPACT® certification, confirming compliance with stringent quality and manufacturing standards.
While AaltoCell™ is designed as a platform technology for international deployment, Finland plays a central role in its industrial development and European supply. Forest-based products remain a cornerstone of the Finnish economy, with forest industry exports valued at approximately €12 billion in 2024 and accounting for a significant share of Finland’s total goods exports. As traditional paper markets mature, future competitiveness increasingly depends on the ability to convert the same forest biomass into more advanced, higher-value materials.
By building next-generation cellulose production and process development in Finland, Nordic Bioproducts Group demonstrates how Finnish forest-based innovation can move up the value chain while remaining closely connected to existing industrial infrastructure. Within the partnership with Oji, Finland serves as a key development and production base for AaltoCell™, while the technology itself is designed to be deployable in regions worldwide as global demand for sustainable, high-value cellulose materials continues to grow.
“This partnership marks an important milestone for Nordic Bioproducts Group,” Kähkönen added. “With Oji as a long-term partner and minority shareholder, we can strengthen our industrial capabilities, accelerate development of specialty next-generation cellulose materials, and bring AaltoCell™ technology to global markets from a strong base in Finland.”
About Nordic Bioproducts Group
Nordic Bioproducts Group is a Finnish biomaterials company specializing in advanced cellulose technologies. Founded in 2019, the company has developed AaltoCell™, a patented platform technology enabling the production of high-value cellulose-based materials with significantly reduced environmental impact.
