OrganoClick AB Received Funding of Sek 815,000 From Vinnova

OrganoClick AB, a Swedish company that develops, produces and markets functional materials based on environmentally friendly fibre chemistry, has received funding of SEK 815,000 (approx. $99,542) from Vinnova, a Swedish governmental innovation agency.

The funding is for a development project around bioplastic polymers, which aims at developing new products for textiles and paper in which bioplastic polymers will be an integral part, the company said in a statement.

The project will be performed during a period of 2 years in collaboration with the institute of surface chemistry (YKI), which is part of SP Technical Research Institute of Sweden.

Vinnova will fund the project through its programme ‘Innovation projects in companies’.

Separately, OrganoClick has also announced that its CEO Mårten Hellberg has resolved his stock options through his 100 per cent owned holding company M Hellberg AB. Post-transaction, Hellberg will hold 10.64 per cent of the capital and votes in the company.