Swedish Billionaire Invests in Nicotine Pouch Company Sting Free
Swedish billionaire Erik Selin has invested SEK 4.4 million ($434,247) in Swedish nicotine pouch innovator Sting Free. He thereby becomes the company’s second-largest shareholder. The company is currently valued at just under SEK 31 million. Other shareho
Swedish billionaire Erik Selin has invested 4.4 million Swedish kronor (approximately $434,247) in the Swedish nicotine pouch innovation company Sting Free. As a result, he has become the second-largest shareholder in the company, which is currently valued at just under 31 million Swedish kronor. Other shareholders of Sting Free include Curt Enzell, the inventor of the original snus pouch, and Meg Tivéus, a former board member of Swedish Match.
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Sting Free has developed and patented modern oral nicotine products and snus pouches, featuring an integrated gum shield on one side (see also "patch pouches," Tobacco Journal, July 2017). The shield effectively reduces the burning sensations and gum irritation typically caused by these products.<\/span><\/div>
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This is Selin's third investment in a snus industry company. He is already the largest Swedish shareholder in snus giant Swedish Match and a major shareholder in Haypp Group, Europe’s largest online retailer of snus and modern oral nicotine pouches.<\/span><\/div>
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"We warmly welcome Erik; there is no better partner than him," said Bengt Wiberg, founder and chairman of Sting Free.<\/span><\/div>
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"We are a company focused on reducing tobacco harm, and our technology has received extensive media attention and international awards for eliminating the stinging sensation. This sensation is often seen as a deterrent for smokers and other nicotine users who have never tried smokeless oral nicotine products," Wiberg said.<\/span><\/div>
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Sting Free AB recently conducted a survey of over 1,000 male and female snus and nicotine pouch users in Sweden. The results indicated a high demand for the patented technology, particularly among women and those who have or are concerned about oral health issues due to using such products. The survey revealed that 59% of users dislike the familiar burning sensation, and 56% are concerned about their oral health when using currently available products.<\/span><\/div>
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In Scandinavia alone, the market for snus and smokeless nicotine pouches is currently valued at approximately 9 billion Swedish kronor annually.<\/span><\/div>
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By the end of 2022, Sting Free AB plans to launch its first tobacco-free nicotine pouch featuring the unique integrated Stingfree shield. "In the future, our goal is to license this technology to create a new standard in the industry, similar to how consumers are familiar with lightweight products for soft drinks or Gore-Tex for clothing and shoes," said Daniel Wiberg, CEO of Sting Free.<\/span><\/div>