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Firm foundations

An inspiring idea!

Greenful exists to solve a critical problem — the global mismanaged textile waste problem that stubbornly evaded a sustainable solution until Toomas Allikas created one when experimenting with different materials in a climate-KIC program.

Today, Greenful provides a very real resolution to the issue of recycling millions of tons of the world’s textile waste. We dedicate all our effort into providing innovative products, ethically sourced, and with minimal impact to the environment — we know it matters!

Our inspiration comes from a collective drive to bring manufacturers, construction companies, and consumers together to deliver products that replace and even exceed ones which actively contribute to the very issues we’re solving. And we’re scaling up! Join the transformation.

Mission – Vision – Values

Greenful’s mission is to innovate new construction materials from recycled
textile, rubber, and plastic waste that outperform traditional materials.

Our goal is to recycle 15% of
Europe’s waste within 6 years,
thus accelerating the world’s
transition to a more
circular and sustainable economy for all.

Our vision is to be a global manufacturer of unique,
high-quality, and innovative construction materials with the most significant environmental benefit.

Our expertise sees us utilizing
existing waste streams and
avoiding creating new ones.
Sustainability and innovation are key drivers for making a positive impact.

Meet the Founders

Toomas Allikas

Founder & CEO

Toomas is a serial entrepreneur with more than 15 years of experience in creating new and innovative companies that not only help improve people’s lives but also solve crucial environmental issues in our world today.

Prior successes include establishing a credit company that helped over 70,000 people by generating €26M in revenue, and becoming the manufacturer of innovative modular homes that are energy-efficient and eco-friendly.

Toomas’ unique competence lies in his visionary approach to opportunities, conceptualizing how technology can be used to solve key problems, and then organizing the creative energies of his teams to build successful businesses.

Michael Vasileff


Michael can boast over 25 years of experience in the financial services industry in the US and Europe, with firms such as Morgan Stanley, Citibank and Merrill Lynch. Prior roles include CFO, COO, BDO and Head of Sales.

He possesses wide-ranging experience of leveraging success with firms of all sizes. He’s participated in several startups, establishing financial, operations, client servicing, product development, and investor relations functions.

Michael holds an MBA from the prestigious Wharton School, an Advanced Certificate in Finance from NYU, and two undergraduate degrees with Honors and Distinction. He is also a Chartered Financial Analyst (CFA).

Our active markets

Most of our existing commercial activity is in Finland and the Netherlands. To ensure we can be closer to waste sources and new clients, we’re finalizing plans to construct a network of 10 EU-based factories.

Each will cost €70M and we have developed a 9-year plan with the European Investment Bank to fund 70% of the total cost through loans. Beyond that, we’ll expand into the US and Asia, where waste amounts are even higher, as are the opportunities for us to make a real, positive, and lasting difference.

Talk with us about investment opportunities in your country.