BlackPeak Capital Invests €7 Million in Fasal Bio, Bringing Renewable Wood-Based Materials to Industrial Scale
BlackPeak Capital announces a growth equity investment of €7 million in Fasal Bio, a Croatian company developing and producing products from renewable, wood-based composite materials. The transaction marks BlackPeak Capital's first direct investment in Croatia.
The new capital will fund expanded production capacity alongside investments in commercial and R&D functions, as BlackPeak Capital works closely with Fasal's team to accelerate international growth and extend the reach of the Naturion™ platform, enabling a new generation of everyday products to be made from renewable resources at industrial scale.
Founded in 2012 by Krešimir Hagljan, a plastics engineer who began his career in Austria's chemicals and plastics industry, Fasal is headquartered in Zagreb. The Company develops Naturion™, a proprietary composite material made from wood and renewable natural raw materials and, compatible with existing thermoplastic processing such as injection molding and extrusion, enabling industrial-scale adoption without new infrastructure, producing durable finished goods from renewable resources.
The company integrates proprietary innovation with product design, prototyping, and manufacturing, enabling partners to move quickly from concept to shelf - an increasingly important capability as regulations worldwide tighten restrictions on conventional plastics and sustainability targets become real business requirements.
Fasal Bio’s products span multiple categories, including animal chewables, children’s toys and games, household goods, and premium clothes hangers. Proprietary brands D-Bone and FORMIQ demonstrate the platform’s versatility across applications. Naturion™ materials are used in the commercial production of products for leading international brands across the US and Western Europe.
With current demand already exceeding production capacity, the new facility will allow Fasal Bio to meet existing needs, take on new customers, and expand into own-branded product lines.
Krešimir Hagljan, Founder and CEO, Fasal Bio:
not just through innovation, but by making it work at scale. This investment is a turning point for Fasal Bio. We are moving from proving what is possible to scaling it globally. With BlackPeak’s support, we are expanding our manufacturing, strengthening our commercial capabilities, and accelerating our mission to enable a new generation of everyday products to be made from renewable materials at scale.”
Marko Dabić, Investment Manager, BlackPeak Capital:
“Fasal has built something rare, a platform where deep technical capability translates into scalable, real-world products, which is precisely a type of business where growth capital can make a difference, not just by accelerating it, but enabling a company with genuine innovation to drive change at industrial scale.
We are excited to support the team as they expand capacity and scale the platform globally.”
The investment reflects BlackPeak Capital's commitment to backing companies that combine commercial performance with long-term impact. Fasal Bio represents the kind of business BlackPeak Capital believes in - one that addresses a real market need, scales with purpose, and contributes to a more sustainable economy across the region and beyond.