VANCOUVER, British Columbia and DELFT, Netherlands, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Chrysalix Venture Capital, a leading early-stage fund that specializes in transformational industrial innovation, is excited to announce an investment in Deadwood Innovations, developers of a solution to upgrade low-grade lumber, waste & underutilized species into high strength, durable & sustainable products in premium engineered wood markets.
"At Chrysalix, we recognize the significant challenges facing the forestry industry today, including rising costs, price volatility, shrinking margins, and the growing demand for sustainable products,” said Alfred Lam, Partner at Chrysalix. "We are excited to support Deadwood Innovations and their groundbreaking upgrading solution, which directly addresses these challenges by converting low-value feedstocks and waste into high-value products. This innovation not only improves sustainability but also creates new market opportunities, driving growth, profitability and resilience for the sector.”
"We chose to partner with Chrysalix because they are one of the rare VC firms that truly understand industrial innovation and the unique challenges and opportunities within the forestry sector,” said Owen Miller, CEO of Deadwood Innovations. "As we enter the next phase of our journey, their expertise, extensive network, and commitment to our vision will be crucial in driving Deadwood's growth across Canada and expansion into global markets.”
The investment will support the development of the first commercial-scale facility in Fort St. James, British Columbia, in partnership with the Nak'azdli Development Corporation. CEO John-Paul Wenger stated, "Partnering with Deadwood Innovations and Chrysalix enables us to demonstrate how investment, innovation, and collaboration can deliver meaningful economic reconciliation, diversify the forestry sector, and promote responsible forest management practices.”
Chrysalix has made this investment through its latest Industrial Innovation Fund, reaffirming its commitment to driving transformative change in resource-intensive industries such as mining, metals, forestry, energy, chemicals, manufacturing, transportation and more.
About Chrysalix Venture Capital
Chrysalix is a technology focused VC firm that builds, mentors and connects high growth companies. With more than 20 years experience, Chrysalix has built its reputation on bringing disruptive innovation to the world's largest industries by focusing on where technology meets science. Chrysalix has one of the strongest investment teams in the industry with deep VC, technology, corporate and entrepreneurial expertise, and is backed by more than 20 international blue chip industrial and financial investors. For more information visit: www.chrysalix.com.
About Deadwood Innovations
Deadwood Innovations is introducing the next step in evolution for the forest industry. Our innovative technology transforms traditionally low value timber into premium high quality lumber products at a competitive price. Our mission is to unlock new profit margins and value for lumber producers while decreasing the carbon footprint of the forest industry. We are committed to enhancing the value of every tree, contributing to a more sustainable and profitable industry, and fostering mutually beneficial relationships between industry and First Nations. For more information visit: https://deadwoodinnovations.ca/
CONTACT: Alfred Lam, Partner Chrysalix, alam@chrysalix.com