Growing cities around the world want to make waste into fuel – Rauma-based BMH Technology expands its ownership base to meet the demand for cleantech
BMH Technology Oy, a company turning waste into recovered fuel, expands its ownership base to expedite its growth in the global market. The new minority shareholders will be Finnish Industry Investment Ltd and Etera Mutual Pension Insurance Company with direct issue. Due to the expanded ownership base, BMH Technology can take part in even larger waste management projects.
The Rauma-based BMH Technology produces demanding waste refining solutions for the needs of waste management, energy production and the process industry and solid biomass fuel handling systems for power plants. The solutions developed by the company enable the refinement of mixed waste into recovered fuel to replace fossil fuel energy. The company has established its position as an industrial-size system provider in Scandinavia and Europe and is continuously improving its standing in Asia.
"Urbanisation and resource wisdom are mega-trends that create new business opportunities for the utilisation of waste. The new capital enables BMH Technology to respond faster to the growth of global demand. Our flagship solution is the solid recovered fuel (SRF) production process TYRANNOSAURUS® which has already been delivered to 15 countries around the world," says Timo Suistio, Managing Director of BMH Technology.
In the TYRANNOSAURUS® process, mixed waste is turned into high-quality solid recovered fuel which can be used to replace coal, for instance. The process separates recyclable fractions, such as metals. TYRANNOSAURUS® is used in a number of Finnish cities, such as Turku and Lahti, as well as in the largest power plant powered by recovered fuel in Europe, situated in Västerås, Sweden. The capacity of the largest plant located in Asia is 700,000 tonnes of waste per year, enabling the refinement of annual waste from 1.5 million people into recovered fuel.
"Growing amounts of waste and industrial emissions are huge problems, and BMH Technology is taking part in solving them. For instance, the air quality in Beijing can be improved by replacing coal with waste-based recovered fuel. Expanding the ownership base enables the funding of even larger projects and growth that responds to global demand," says Risto Salo, Chairperson of the Board at BMH Technology.
Domestic investors expedite growth
Finnish Industry Investment Ltd and Etera Mutual Pension Insurance Company will become significant minority shareholders of BMH Technology with directed issue. The parties have finalized the arrangements related to the ownership expansion.
"BMH Technology has substantial reference deliveries to the growing market of Southeast Asia. The cleantech and bioeconomy expertise of BMH Technology Oy holds significant export potential to the markets in stages of breakthrough," says Investment Director Juuso Puolanne from Finnish Industry Investment Ltd.
"The solutions of BMH Technology Oy make waste into valuable raw materials for energy production, which strengthens the energy-related self-sufficiency and the current account of the countries that use them. Etera is pleased to do its part in enhancing the growth of a Finnish technology company," says Pekka Ahlajärvi, Portfolio Manager at Etera.
So far, BMH Technology Oy has delivered more than 50 TYRANNOSAURUS® waste refining systems and more than 150 biomass fuel handling systems around the world. The companies operations in the environment and energy industry is based on its own technology, project management, and manufacturing and installation expertise. The company's headquarters in Rauma is supported by sales offices in China, Sweden and Poland. The company employs about 135 people directly and 200 people indirectly. In 2015, the company's revenue was EUR 54 million.
Timo Suistio, Managing Director, BMH Technology Oy
Tel. +358 (0)40 072 3942
Juuso Puolanne, Investment Director, Finnish Industry Investment Ltd.
Tel. +358 (0)50 570 0235
Pekka Ahlajärvi, Portfolio Manager, Etera Mutual Pension Insurance Company
Tel. +358 (0)40 840 3199