IKEA Buys Stake in Startup Developing Plastic Waste-Derived Adhesives
Inter IKEA has signed a development and access agreement with Auckland, New Zealand-based NILO, a deep-tech startup company that has developed and patented a plastic waste-derived adhesive for use in the production of wood-based boards. The investment aligns with the company’s sustainability commitments, which includes switching from fossil-based to bio-based glues for board production.
As part of this agreement, Inter IKEA Development B.V. has acquired a 12.5% stake in NILO and Andrew McIntosh, innovation partnership leader at IKEA Innovation Ventures, has joined NILO’s board of directors.