04.03.2020 | News
The Finnish company Altum Technologies Oy has signed a loan agreement with NEFCO for expanding its industrial cleaning technology to new markets.
The company has developed a unique solution to tackle industrial fouling. Altum’s software-guided ultrasound technology enables industrial production equipment to be cleaned without it having to be dismantled, and driving down the production processes for maintenance. Compared with traditional methods, Altum’s de-fouling solution is cleaner and makes industrial processes more efficient and less energy intensive. As a consequence, the solution helps to reduce CO2 emissions.
The EUR 1 million loan will enable the company to implement a number of demonstration projects at pulp and paper mills on various continents and support the company in its international growth.
“It is crucial for us to be able to demonstrate our technology to our customers, so that they see how our solution helps to make their production processes more efficient and decreases their energy usage. With the NEFCO loan, we will now be able to continue our international expansion in several new markets,” said Matias Tainela, CEO at Altum, in connection with the signing.
“This is a very interesting innovation for decreasing energy usage in industrial production processes with the potential for a global impact. Our cooperation with Altum is a good example of how, after co-financing a feasibility study for internationalisation, we can continue our support for further investments in new markets,” commented Dennis Hamro-Drotz, Investment Manager at NEFCO.
Industrial processes require more energy when material is being forced through fouled pipes. It is estimated that fouling in industrial equipment such as pipes, tanks and heat exchangers is responsible for 2.5 per cent of global CO2 emissions. In addition, traditional methods for cleaning fouling use massive amounts of energy, water and hazardous chemicals.
For further information, please contact:
Dennis Hamro-Drotz, Investment Manager at NEFCO
dennis.hamro-drotz@nefco.fi, +358 10 6180 641
Matias Tainela, CEO at Altum Technologies
matias.tainela@altumtechnologies.com, tel. +358 40 55 32 777
Altum Technologies is a Finnish company founded in 2016. The company’s software-guided power ultrasound technology cleans different types of fouling in several industries, such as heat and energy, food, chemical, pulp and paper, and water. The company has developed a set of products that can tackle fouling in different types of industrial equipment and it also detects and optimises the cleaning processes to increase the lifetime of the products. Read more at www.altumtechnlogies.com