News
2024.4.17
Investment in CleanFiber Inc., the manufacturer of cellulose insulation for buildings made from recycled cardboard
TOKYU CONSTRUCTION CO., LTD., (Headquarters: Shibuya-ku, Tokyo; President: Mitsuhiro Terada; hereafter, the "Company"), acting through TOKYU-CNST GB Innovation Fund L.P. (Managed by: Global Brain Corporation), has invested in CleanFiber Inc. (Headquarters: State of New York, the United States; CEO: Jonathan Strimling, hereafter, "CleanFiber"), the manufacturer and distributor of cellulose insulation for buildings made from recycled cardboard.
[About CleanFiber]
CleanFiber Inc. is a venture company manufacturing and selling cellulose insulation for buildings made from recycled cardboard.
The market of cellulose insulation made from newspaper, cardboard, wood fiber and other natural fibers has growth potential because of its effect of insulation and carbon fixation. Up to now, there have been concerns about a decrease in supply and an increase in prices, mainly because newspaper has been used as the raw material. CleanFiber has realized the manufacturing of insulation with less dust through its proprietary technology, as well as having reduced costs by using recycled cardboard as the raw material. CleanFiber has already started mass production at a plant in the State of New York, the United States, and is increasing its market share in the United States thanks to its price and quality.
[Investment Background and Future Outlook]
There are a wide variety of insulation products made from chemical fibers (glass wool), mineral fibers (rock wool), polyethylene resins, urethane resins, natural fibers, etc. Among them, cellulose insulation made from natural fibers, such as newspaper, cardboard, and wood fibers, is highly recognized for its low CO2 emissions from the manufacturing process due to recycled materials as its raw material, and superior product performance in terms of absorption and desorption of moisture, noise insulation, and insect repellence.
Currently, the cellulose insulation market in Japan is limited due to higher prices than those of other insulation materials and the lack of contractors. CleanFiber has achieved low prices in the United States, and it is expected that the cellulose insulation market will expand in Japan and other countries where environmental awareness is growing.
Through its investment in CleanFiber, the Company will support the spread of cellulose insulation in Japan and accelerate its effort for decarbonization and zero waste, which are the values the Company is centered on.
