Thanks to Verde loan from Nordea, Jospak marks new chapter in limiting food plastic waste

In the European Union, almost 15.5 million tonnes of plastic packaging circulate the market each year, with only 40 percent recycled.

To reduce the negative effects that plastic waste has on the environment, all plastic packaging on the EU market must be reusable or recyclable by 2030. Companies like Jospak play a crucial role in proving how we can meet the tighter recycling requirements.

Jospak started as a small startup in 2014 in Forssa, Finland. Since then, it has grown to become a pioneer of the food packaging industry. Their flagship product – a recyclable cardboard food tray – is sustainable and innovative in many ways.

Looking for the smallest possible environmental footprint

Protecting the environment and climate are at the heart of Jospak. The company considers the environment, recyclability of products and consumer preferences in their package design.

"We are committed to sustainability in all our actions, decisions and solutions, and strongly support the circular economy. We implement sustainable solutions throughout the whole production process chain, from product design and materials to factory equipment," says Janne Sokajärvi, Jospak’s CEO.

Jospak trays are made of cardboard and coated with thin plastic film only. This means that the packaging contains up to 85 per cent less plastic than traditional packaging made of rigid plastic. The cardboard trays are also fully recyclable as they are made from renewable wood fibre, originating from sustainably managed forests. The production process emits 2.5 times less carbon dioxide compared with other plastic packaging.

“With this design, it’s easy for consumers to separate the plastic film and recycle both materials in separate waste management systems. It also enables us to print the customer’s brand image on the outer surface of the tray, which prevents unnecessary layers of packaging,” says Janne Sokajärvi.

The Verde loan for sustainable growth

Growing interest in Jospak’s tray in the global market and its positive environmental impact accelerated the company’s decision to invest in new premises.

At the beginning of October 2022 the company moved from rented premises into their own eco-friendly and custom-made factory. The new property enables the company to build a production capacity of 150 million food trays for the European market. To make this investment possible, Jospak needed financial support.

“Jospak became our customer as a startup company in 2019. The green loan that Nordea offers as a part of the Verde programme was the perfect solution to finance the company’s investment,” says Vesa Honkanen, Client Executive at Nordea.

And he adds: “When assessing the application for a Verde loan, we took into account the entire investment, its impact on the environment and the local market. Sustainability goes beyond the end product: the factory building itself has many elements that support sustainable development. Solar panels mounted on the factory roof generate green energy for the company, and the plant has its own thermal heating and heat recovery system. In addition, Jospak will recruit workers from the Forssa region, supporting the local community.”