FINLAND – Espoo-based company, Walki Group has invested in Finnish start-up The Paper Lid Company (TPLC) which has developed a method of manufacturing recyclable paper lids.
TPLC’s paper lid manufacturing site in Masku, Finland, is aiming to scale up production volumes supported by Walki’s material conversion and printing.
Targeting end users of hot and cold cup lids looking for alternatives to replace single-use plastic lids, TPLC has developed a way of manufacturing recyclable paper lids.
Walki says that TPLC’s lid fits firmly to the cup, can be custom printed and the raw material for the lids is produced with dispersion coating technology which makes the lid recyclable in paper waste streams.
Walki’s startup investment initiative Walki Ventures has invested in TPLC and established a partnership to assist the start-up in implementing the founders’ growth plan.
Walki says it will support TPLC in areas including the development of recyclable raw material for the lids and printing services for custom and single-color printed lids.
Matti Salonoja, CEO and co-founder of TPLC said: “We are excited to partner with Walki and get access to the resources that come with this partnership.
“Raw material plays an important role both in our production process and quality of the end product. With Walki’s material knowhow, printing capabilities and other support, we are ready to start supplying the market in a larger scale.”
Walki inaugurates next generation production line
Meanwhile, the group has opened next generation production line in Valkeakoski. The next-generation production line was officially inaugurated with a festive ceremony that brought together customers and other stakeholders from various parts of the world.
The €13 million (US$14.60m) investment – one of the most significant in Walki’s history – is an important step forward in the company’s strategy to transform materials towards a circular future.
“With this milestone investment, we are expanding our technology base to secure the recyclability of our fiber-based products to meet the strictest requirements of expected future regulations,” says Leif Frilund, President and CEO.
“This new production line will cater to the fast-growing demand for fiber-based and recyclable materials, both in our consumer packaging and construction materials segments.”
In addition to packaging materials, the production line will be serving customers in the construction industry, who are under pressure to comply with tightened regulations regarding both fire safety and recyclability of construction materials.
