Lingrove Secures $10 Million in Financing to Ramp up Production of ekoa®
Lingrove - a pioneer in composite materials that uses patented technology to transform fast-growing plants into surfaces and panels for the built environment and beyond – announced today an oversubscribed Series B round of funding led by Lewis & Clark Agrifood and Diamond Edge Ventures, with participation from Bunge Ventures and SOSV. The funding enables Lingrove to ramp up production of ekoa®, a natural, durable, and carbon-negative alternative to conventional materials used in construction.
Made from carbon-negative plant fibers, high-performance ekoa® can sequester billions of tons of CO2 per year by replacing plastics, metals, and wood with a renewable-sourced product. Lingrove aims to reinvent and decarbonize the trillion-dollar renovation and new construction materials market, making interiors healthy, beautiful, and climate-friendly. Lingrove, which launched inhouse manufacturing of ekoa® surfaces in late 2023, has secured millions in ekoa® pre-orders. Its eco-veneers are currently being used in wall and cabinetry applications, as well as advanced materials testing for the automotive sector.