Zagreb-based Fasal Bio secures €7 million to replace plastics with renewable raw materials

Fasal Bio, a Zagreb-based company developing a proprietary renewable material platform designed to reduce the reliance on conventional plastic, has secured a €7 million growth equity investment from BlackPeak Capital. 

This transaction marks the Bulgarian private equity firm’s first direct investment in Croatia. BlackPeak Capital targets growth equity investments of €5–20 million in fast-growing companies in Southeast and Central Europe. It manages two funds with total assets under management of €150 million. 

“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,” shared Marko Dabic, Investment Manager at BlackPeak Capital.

Founded in 2012 by Krešimir Hagljan, Fasal Bio develops Naturion, a proprietary composite material made from wood and renewable natural raw materials. It is compatible with existing thermoplastic processing, such as injection moulding and extrusion, enabling industrial-scale adoption without new infrastructure and producing durable finished goods from renewable resources.

The company claims to integrate 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.

Its products span multiple categories, including animal chewables, children’s toys and games, household goods, and clothes hangers. Some of its proprietary brands are D-Bone and FORMIQ. Naturion materials are used in the commercial production of products for leading international brands across the US and Western Europe, claims Fasal Bio. 

Krešimir Hagljan, Founder and CEO, Fasal Bio, said, “We have spent years building the capability to reduce reliance on fossil-based plastics in real world production, not just through innovation, but by making it work at scale. This investment is a turning point for Fasal Bio.”

With the fresh capital, the company plans to expand production capacity and invest in commercial and R&D functions. BlackPeak Capital plans to work closely with Fasal’s team to accelerate international growth and extend the reach of the Naturion platform. It also plans to hire new employees in Zagreb.

“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,” Hagljan added. 

Fasal Bio notes that with current demand already exceeding production capacity, the new facility will enable it to meet existing needs, take on new customers, and expand into its own-branded product lines.

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