Oulu-based CleanTech firm Filtrabit has secured a €2 million funding dedication from Ajanta Improvements 2 Ky for its coming financing spherical.
The Finnish startup plans to make use of the capital to develop the deployment of its modular mud extraction know-how into new markets outdoors Finland, primarily, however not solely, within the Nordics, Central Europe, and India.
Dr Kim Fagerlund, CEO of Filtrabit, mentioned, “The growing demand for higher mud management is pushed not solely by environmental rules but in addition by operational and financial advantages achieved by implementing essentially the most trendy uncooked materials assortment and recycling strategies obtainable.
“Our know-how has now been confirmed in follow in a number of functions in Finland and is able to be carried out in operations globally.
“We’re grateful for the belief of our shareholders and are able to take the following steps on our growth and progress path. This dedication performs a key position in our subsequent spherical and allows us to effectively execute our technique street map as deliberate greater than a 12 months in the past.”
Established in 2011, Filtrabit manufactures industrial-scale mud extraction programs with a deal with fixing the mud management issues of business and enhancing air high quality inside and out of doors industrial vegetation.
Based on the corporate, its resolution extracts microparticles from industrial dust-laden fuel streams, which helps cut back air pollution from industrial sources and speed up emissions reductions by means of the reuse of recovered uncooked supplies.
Filtrabit gives mud separation items on an working lease mannequin. It additionally helps its shoppers design the required hooding and ducting, with the assist of its companions.
Based on the corporate’s web site, the modular items are serially manufactured and transportable, enabling capability to be tailor-made and retrofitted with out requiring constructing permits. The corporate states that set up could be accomplished in a single day when the required ducting is in place. The gadget will also be geared up with quite a few sensors as per the client’s particular knowledge wants. Its prospects embody metal mills, foundries, quarries, in addition to mining and ore processing operations.
In Might this 12 months, Filtrabit raised €2 million in financing for continued progress. In June, Enterprise Finland awarded it a €600k grant to assist product growth. In 2024, the corporate secured €4 million in lease financing amenities from the Finnish Local weather Fund and a €5 million mortgage from Norion Financial institution.
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