BioART AB invests USD 2 millions in ReformTech Sweden AB
Stockholm, Sweden, July 6, 2010 – ReformTech Sweden AB today announced that the investment firm BioART is investing USD 2 millions in ReformTech Sweden AB – a worldwide leader in developing clean heating, reformer system and exhaust treatment products, including subsystems, based on a proprietary catalytic fuel processing and reactor technology.
ReformTech offers customers a wide range of innovative solutions for both mobile and stationary applications. The core of the ReformTech products is a flexible platform, that allows for the construction of a compact and robust fuel reformer that easily can be adopted for a large variety of applications and fuels as well as be scaled up or down to fit the specific customer needs.
- It is very gratifying to get Bio ART as a partner and a co-owner. Bio ART is financially strong and has a long term commitment that suits our strategy well. The invested capital will help us customize our technology platform together with a larger number of new customers. It will also increase the rate of our international expansion and allow us to have a stronger market presence in both China and the US where we expect a rapid sales growth in the coming years. The worldwide market for our products is enormous and the capital infusion help us to actively participate in the on-going industry shift towards more environmental friendly energy- and propulsion systems, says Fredrik Engelhardt, CEO ReformTech.
- Swedish companies are world leaders in the clean tech sector, which is now experiencing accelerated growth internationally. ReformTech is a company with ground breaking products and extensive knowledge among the management and the personnel. Now is the time to establish its products internationally and to expand the company to meet the increasing customer demand. Until now the primary focus for ReformTech has been to increase efficiency of the fuel processing platform and to develop the basic product platform. Next steps are to increase efficiency of the technology platform, expand the product offerings, and to design customized solutions for ReformTech’s customers. ReformTech is a technology leader in this area, and we predict a bright future for ReformTech where we together will make the company a market leader, says Magnus Ericsson, CEO BioART AB.
Daniel Hagström, VP & Founder, ReformTech Sweden AB
Phone: +46 70 319 75 05
E-mail: daniel.hagstrom@reformtech.se
About ReformTech Sweden AB
ReformTech was established by a group of world leading experts in the fields of environmental catalysis, fuel reforming and industrial production. ReformTech strives to professionalize the mobile hydrogen reformation market as well as the market for clean catalytic heaters through best practice development and a collaborative business system. ReformTech offers customers a wide range of innovative solutions for both mobile and stationary applications. For more information see www.reformtech.se.
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