Releaf Paper startup plans to raise €8M to construct new factories.

The Ukrainian start-up Releaf Paper, which produces paper and containers from fallen leaves, plans to attract an additional €4M in investment, and already has €4M in guaranteed funds from the European Commission, said Oleksandr Sobolenko, co-founder of the startup.

In December 2022, the startup had already obtained a €2.5M grant from the European Commission when it won the EIC Accelerator 2022 program. The startup is looking for another €4M, but according to Sobolenko, there is no rush. According to the company, the €8M will go to construct two new, small factories or one large factory outside of Ukraine.

Releaf Paper claims that every ton of leaf paper produced saves 17 trees from being cut down. The initial paper production, used as packaging and paper bags, began in September 2021 at the first test plant in Ukraine, with a capacity of 5,000 tons per year.