Formica Capital invests in the wooden house manufacturer Nock Massiva Trähus in Sweden
Formica Capital is investing in the fast-growing wooden house manufacturer Nock Massiva Trähus. Nock is one of the few Swedish suppliers of apartment buildings through industrialized production in solid wood, which provides climate-positive homes of high quality.
Nock is a pioneer and market leader in modular production of cross-laminated wood buildings, CLT. The company was founded and run by an experienced team, with real estate veteran Olle Knaust as CEO and Örjan Landström the innovator of the unique building system. In 2021, production will quadruple from 2020 with a broad project portfolio, from student housing to exclusive rental and condominiums, so-called BRFs.
The cost-effective and flexible construction system has clear advantages. With a 96% degree of prefabrication in its factory in Älvängen outside Gothenburg, the system can halve the project time, as the base plate and the modules can be built simultaneously. The system’s dimensional stability and precision lead to high quality with low maintenance costs and tenant turnover. The buildings are energy efficient and reach the levels that the National Board of Housing, Building and Planning has set to entitle to energy efficiency support. With CO2 trapped in the frame, a climate-positive house is achieved that can be built without concrete.
The construction industry accounts for a little more than 20% of Sweden’s emissions. With CLT as a framework material, emissions during the construction phase are significantly reduced and buildings can function as carbon sinks, as the forest during its growth captures CO2 trees that are stored in the buildings. By using CLT, the proportion of wood is significantly increased compared to a traditional wooden frame with plaster walls. Together with their energy efficiency and responsible forestry, the houses can, according to Formica’s calculations, be climate positive both in the short term and over a lifespan of 50 years. CLT-hus thus contributes to Sweden’s goal of fossil neutrality 2045 and onwards.