Jospak, a company based in Forssa, Finland, secures financing of EUR 3.5 million – the international launch of ecological food trays and the increase of production capacity are advancing as planned
The roadmap for Jospak’s strategy is advancing in a systematic and quick fashion. Jospak’s vision of promoting sustainability and the circular economy in the food packaging industry will take a giant leap forward, thanks to a directed share issue. Jospak’s innovative packaging solution has attracted widespread international interest and, as the result of the share issue, the company’s ownership will become even stronger.
Jospak’s packaging solution is in line with EU policies regarding the reduction of plastic used in commerce and the food industry. With the directed share issue, the company has secured financing of EUR 3.5 million, which allows the company to take the measures outlined in strategic plans with regard to both internationalisation and increased production capacity. Jospak already serves reference customers in Finland, the Nordic countries and Central Europe. Jospak’s goal is to become a leading circular economy pioneer as a producer of food packaging products.
– Jospak’s directed share issue attracted widespread interest from private investors, whose belief and commitment to the circular economy was very praiseworthy and positive. Expanding the company’s ownership helps developing the company according to our strategy towards the clear goal where Jospak promotes sustainable development as an internationally active party, says Jari Stenberg, Chairman of the Board of Directors.
Thanks to the additional funding, Jospak is now setting up tray production machines equipped with new technology developed by the company, investing in a Finnish and international sales network and recruiting skilled experts to its production facility in Forssa, Finland.
– Food packaging solutions that take the environment into consideration are undergoing a major change. This wonderful and important commitment to the circular economy from different parties in the industry is apparent in the daily news feed. The directed share issue allows for Jospak’s critical leap towards industrial-scale mass production. We are developing our own technology in a determined manner and continuing to recruit top experts in the industry to Jospak’s professional team in a systematic manner, says Managing Director Janne Sokajärvi.
Jospak Oy’s Annual General Meeting has appointed an experienced and highly skilled Board of Directors to manage the company and ensure its strategic development.
– The new Board of Directors consists of experienced entrepreneurs and company managers with a wide set of skills required in business areas important to Jospak and extensive experience in enterprise development, says Jari Stenberg, Chairman of the Board of Directors.
Jospak’s Board of Directors
Casimir von Frenckell is a new shareholder in the company and a new member of the Board of Directors.
– Jospak is an interesting company in many respects. Public discussion about mitigating climate change and negative environmental impacts has risen to a new level, and we are now taking action instead of talking. I believe that Jospak’s solution meets the challenge, demand and requirements of many different stakeholders, such as consumers, regulators and investors. Jospak has excellent resources to establish and grow sustainable and profitable business activities, says Casimir von Frenckell.
Jospak Oy, established in 2014, is a growth company that designs and manufactures patented, fibre -based trays and the technology required for manufacturing them. The Jospak® tray brings together the best features of cardboard and plastic, offering the food industry an environmentally friendly solution that uses materials efficiently. The Jospak® tray reduces the need for plastic by 85% and generates three times less carbon dioxide emissions compared to similar hard plastic packaging and is suitable for existing production lines in the food industry. The packaging solution has won the internationally valued ScanStar 2018 and WorldStar 2019 awards. Jospak Oy has been granted the international BRC and FSC CoC certificates.