Mitsubishi Chemical subsidiary invests in Lingrove, a maker of high-performance, carbon-negative composites that can replace wood, laminates and plastics; company's Ekoa plant fiber-based material offers stronger strength-to-weight ratio than steel

Sample article from our Bioeconomy

February 22, 2022 (press release) –

Mitsubishi Chemical Holdings Corporation (Headquarters: Chiyoda-ku, Tokyo; President: Jean-Marc Gilson, hereinafter "MCHC") announced today that Diamond Edge Ventures, Inc. (a wholly-owned subsidiary of MCHC, hereinafter “DEV”) has invested in Lingrove, Inc. (San Francisco, CA, USA; CEO: Joe Luttwak).

Lingrove –whose high-performance, carbon-negative composite technology can replace wood, high-pressure laminates, and plastics with its less expensive, clean-chemistry product Ekoa® – has secured its Series A funding with lead investor Diamond Edge Ventures (DEV). This investment in Lingrove is part of MCHC’s efforts to achieve carbon neutrality by utilizing biomass while attaining sustainable growth. Lingrove will use the funds to scale its operations, hire key staff, and increase manufacturing capacity.

“This investment proves that large material companies can be provocative in fostering carbon neutrality,” says Patrick Suel, President of Diamond Edge Ventures. “We generally invest in the top startups in a field. But with Lingrove we selected the leader amongst companies leveraging natural materials and novel chemistries to solve today’s sustainability issues as well as customer’s application needs.”

Ekoa®, developed from plant fiber, delivers a higher strength-to-weight ratio than steel. Ekoa® is already being used to replace mainstream materials such as wood in musical instruments and designer furniture. Upcoming uses in late-stage testing include instrument consoles in electric vehicles, kitchen & bath products, and acoustic panels. Ekoa®, with its extreme endurance, moldability, and general performance, provides a sustainable alternative to other composites and incumbent materials, with a luxurious and natural aesthetic.

“Demand for naturetech and Ekoa® has been incredibly strong and growing,” says Joe Luttwak, CEO of Lingrove. “Soon every car, furniture, and product designer will be able to replace wood and plastics. We are ready to help deliver high-performance, beautiful, sustainable products that meet our customers’ climate commitments - and most importantly leave forests intact.”

This investment reflects Diamond Edge Ventures’ confidence in the market demand for naturetech and this unique composite product that mirrors the natural look of wood while delivering unequaled sustainability and extreme moldability - making it a perfect alternative for replacing wood, plastics, and metals in even the toughest design challenges.

About Mitsubishi Chemical Holdings Corporation

Mitsubishi Chemical Holdings Corporation conducts its corporate activities and businesses worldwide in the domains of Performance Products, Industrial Materials, and Health Care based

on the core values of “Sustainability,” “Health,” and “Comfort.” The company builds stakeholder value while contributing to the sustainable well-being of people, society and our planet Earth. For more information, visit

About Diamond Edge Ventures

Diamond Edge Ventures, Inc., was established in July 2018 in the heart of Silicon Valley as the Corporate Venture Capital arm of Mitsubishi Chemical Holding Corporation (MCHC). The company’s mission is to foster innovation across MCHC Group companies through investment in and strategic partnership with high-potential startups. For further information, visit or contact us at

About Lingrove

Lingrove is on a mission to replace carbon-intense timber, metals, and plastics with superior carbon-negative products to reverse climate change. Our high-performance composite, Ekoa®, can replace wood in all interior applications – from dashboards, to floors, to furniture, and walls – with a cost-effective, carbon-neutral, clean chemistry product that delivers a higher strength-to-weight ratio than steel. For further information, please visit or contact us at

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

See our dashboard in action - schedule an demo
Jason Irving
Jason Irving
- SVP Enterprise Solutions -

We offer built-to-order bioeconomy coverage for our clients. Contact us for a free consultation.

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.