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Columbia Pulp
A pulp mill converting waste straw into pulp for papermaking and lignin for petrochemical replacements
About Columbia Pulp
Columbia Pulp LLC, previously known as NW Straw Pulp, operated as North America's first full-scale, tree-free pulp mill, converting agricultural waste into sustainable products. The company was founded on a vision conceptualized approximately 25 years ago by Dr. William McKean of the University of Washington and Mark Lewis, aiming to utilize an abundant local resource—waste wheat straw—for pulp production. John Begley, a veteran of the pulp and paper industry, served as the CEO from its inception, leading the company through development, financing, and construction.
The firm's business model centered on purchasing waste straw from farmers within a 75-mile radius of its facility, addressing a significant disposal challenge for the agricultural community. This raw material was then processed at its plant in Lyons Ferry, Washington, which opened in October 2019 after securing significant funding, including $133.6 million in bonds and $36 million in equity. The business served paper and packaging manufacturers by providing a high-quality, sustainable alternative to traditional wood-based pulp. Revenue was generated through the sale of its primary product, "Columbia Gold®" pulp, and co-products like bio-polymers, which had applications in various industries as petrochemical replacements.
Columbia Pulp's core product was a market-grade pulp made from wheat and alfalfa straw using a proprietary process that required less energy, water, and chemicals than conventional wood pulping methods. This process yielded pulp with quality specifications equal to or better than virgin hardwood pulp, suitable for manufacturing items like food containers, towels, and tissues. A key secondary product was a range of bio-polymers derived from lignin, marketed as eco-friendly alternatives for uses such as de-icing agents and soil enhancements. The company's operations were marked by significant challenges, including a temporary shutdown in March 2020 due to the COVID-19 pandemic and a subsequent idling of the facility in February 2022 amid market development difficulties. These operational struggles led to the company being placed into receivership in April 2022, and its assets were scheduled for auction in February 2024.
Source: Dealroom company dataKnowledge graph
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Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| LATE VC✓Equity / VC | Mar 2019 | $16M | $63M | Undisclosed | ↗ |
| DEBT✓Debt | Mar 2018 | $20M | — | CEI Capital Management | ↗ |
Growth signals
Columbia Pulp's team declined 26.9% over the past year.
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Investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Series B and later1 investor entered at this stage
CEI Capital Management
Other known investors1 additional known investor
Columbia Ventures Corporation
Source: Dealroom Talent Intelligence.
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team presence
Market sentiment
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