RISE becomes owner in MoRe Research
24 October 2019, 14:25
The research institute RISE is purchasing 60 percent of the shares in MoRe Research. The Örnsköldsvik company MoRe Research is a leader in research, analysis and industry-oriented process and product development in the paper, pulp and biorefinery industry. The deal is part of RISE’s efforts to expand operations along the Norrland coast.
“Our vision is for the Norrland coast to become a world-class centre for knowledge, research, development and scaling-up in the paper, pulp and biorefinery industry, and MoRe Research is a highly qualified operator that complements our endeavours excellently,” says Pia Sandvik, CEO of RISE.
“MoRe, with its deep and extensive roots in the Swedish forestry industry’s research and development, has an ambition and a responsibility to be an active partner, with sustainability, quality, economy and maximised value added as clear guiding principles in the necessary transition work the world is facing. Through the deal, and the combined resources that are now on offer, these guiding principles will become even more entrenched,” says Stefan Svensson, CEO of MoRe Research.
“It is important and very gratifying that RISE is choosing to build a national centre of expertise for biorefinery in Örnsköldsvik. It confirms that the municipality’s long-term commitment to RISE Processum and the bioeconomy has borne fruit. RISE’s investment gives both MoRe and Processum a strengthened position in the R&D market and good opportunities for continued growth,” says Per Nylén, Chair of the Municipal Board, Örnsköldsvik Municipality.
MoRe Research mainly focuses on research, analysis and industry-oriented process & product development for customers in the paper, pulp and biorefinery industry. The bulk of operations involves industry-funded assignments, but in recent years the company, in close cooperation with universities, has built up strong, respected and steadily increasing research department with PhD students, researchers and publicly-funded research projects.
RISE has had long and close cooperation with MoRe where facilities, pilots and equipment have been jointly utilised and co-owned. Both parties see great advantages in the deal as it can further strengthen the offer to customers.
The current owners of MoRe (Eurocon, the Kempe Foundations, Metsä Board Sweden and Domsjö Fabriker) remains owners with a combined share of 40 percent, and see the deal with RISE as strategically important for strengthening the Swedish forestry industry.
MoRe Research AB now becomes a partly owned subsidiary of RISE within the Bioeconomy division. At the end of the year, MoRe Research AB will become part of the new Bioeconomy and Health division in the Biorefinery and Energy department.
For more information please contact:
Magnus Hallberg, RISE, Head of the Biorefinery and Energy department
+46 (0)10 516 6763, email@example.com
Stefan Svensson, VD MoRe Research
+46 (0)70 234 8300, firstname.lastname@example.org