Business update and Christmas wishes from team at Eternali

Dec 13, 2024

After laying a solid foundation and plan during 2023, both for our wood chips business as well as our transatlantic deliveries of timber, our aim for 2024 was super clear – we were to go live with our production of wood chips and start delivering to customers. During the summer we finalized the purchase of our first land plot and wood chipper and by October our first facility in Moju was finalized. After hard work from our team on site we could celebrate the start of production the first week of November.  This was of course a huge step for us at Eternali – to be able to finally serve our customers and start our roll-out of wood chips production facilities in northern Brazil. The demand for our high-quality wood chips, or biomass, is huge and the feedback from customers receiving our first month’s production is so far very positive, which is the best proof we can get that we are on the right track. So now just before Christmas, we can truly state that we are very happy to be up and running and invoicing satisfied customers of our high-quality wood chips.  And with the production in Moju working so well, we are really looking forward to the opening of our next facility, all according to our defined business plan.

To continue the development of our company and execute on our plan we also have a great need for growth capital. In September we initiated a share issue to raise the needed capital for the establishment of wood chips production facility number 2 and 3, meaning to make a copy-paste of the establishment we just finalized in Moju. Even though we raised enough capital to purchase our next land plot, we unfortunately did not raise enough capital during to finalize the establishment of new facilities at the pace originally intended. As stated previously we need to work just as hard on capital acquisition as we do on operational success, and the board and management are continuously evaluating alternative financing of our expansion, currently with great focus on the initial investments needed for the next wood chips facilities. We hope that the many dialogues that are taken place right now will enable us to increase the pace once again at the beginning of next year, so that we thereby can establish two new production facilities already within the first six to eight months of 2025.

For us at Eternali 2024 will be remembered as the year we reached our first true milestone: We initiated our production and made our first deliveries to customers. We have learned so much from these last months, learnings that will be truly beneficial for us moving into our next production facilities during 2025. I know that, just as me, all colleagues at Eternali are looking forward to next year with excitement.

Although there are many days left in this year for production and delivery, we would like to take the opportunity to wish everyone a Merry Christmas, or Feliz Natal, and a Happy New Year.

/Andreas Forssell, CEO Eternali