Resand Ltd receives EUR 3 million loan from Nefco to scale up sand regeneration solutions for foundries
Resand Ltd Press release 3 September 2024 at 10.00 a.m. EEST
The financing from Nefco, in conjunction with additional financing secured earlier this year, will enable Resand to meet the growing demand for sand recycling and contribute to the preservation of the world’s limited sand resources and biodiversity.
Resand Ltd, a Finnish technology company specialising in the regeneration and recycling of foundry sand, has secured a EUR 3 million loan from Nefco, the Nordic Green Bank, to accelerate the expansion of its services.
Sand excavations have long been associated with irreversible environmental problems, including land erosion, river degradation, flooding and loss of natural habitats. As the second most exploited natural resource globally, after water, sand is in high demand, particularly in the foundry industry. Foundries use sand in their moulds and typically discard over 100 million tons of waste sand annually, with less than 1% being reclaimed. The Resand® Sand As A Service (SAAS) solution offers foundries the opportunity to recycle and reuse sand, reducing virgin sand consumption by an impressive 75%.
Resand’s patented technology and sand reclamation service provide a sustainable alternative to the costly and environmentally damaging practice of dumping waste sand. By utilising Resand’s electric sand reclaimer, foundries can easily connect to their mains, providing a continuous supply of clean sand. The newly developed electric sand reclaimer, designed for medium-sized foundries, boasts a production capacity of 1,000 kg of recovered sand per hour.
Kalle Härkki, CEO of Resand Ltd, expressed his enthusiasm for the partnership with Nefco stating, “Nefco’s financing is crucial for our scale-up phase, allowing us to further develop our commercialised product and business model. With Nefco’s support, we can meet the increasing demand for sand recycling and contribute to the green transition of the foundry industry with our patented technology and innovative service.”
Vivi Avikainen, Investment Manager at Nefco, emphasised the importance of Resand’s mission saying, “We are proud to support Resand in its efforts to address the environmental challenges associated with sand excavation. By reducing the consumption of virgin sand and promoting resource efficiency, Resand is making a significant contribution to the circular economy and biodiversity.”
The Resand® sand regeneration solution not only reduces the environmental impact of sand disposal but also helps foundries reduce CO2 emissions caused by the treatment and transportation of virgin sand. With the financing from Nefco, Resand is well positioned to scale up its operations and have a lasting impact on the foundry industry’s sustainability practices.
For more information, please contact:
Kalle Härkki, CEO, Resand Ltd
kalle.harkki@resand.eu
tel. +358 40 513 3383
Vivi Avikainen, Investment Manager, Nefco
vivi.avikainen@nefco.int
tel. +358 10 6180 661
About Resand Ltd
Sand suitable for industrial use is becoming scarce. However, by regenerating and reusing sand, the extraction of virgin sand can be reduced and the resulting loss of biodiversity slowed down. Resand Ltd, founded in 2013, is a Finnish technology company specialising in foundry sand regeneration, offering its customers clean sand as a service. The Resand® solution enables almost 100% recycling of foundry sand and reduces CO2 emissions from sand use and transport by up to 80%.
Resand Ltd is headquartered in Nuutajärvi, Finland, and has staff in several European countries. The company aims to achieve strong growth in the European foundry market and to expand its business outside Europe. www.resand.eu
About Nefco
Nefco, the Nordic Green Bank, is an international financial institution (IFI) founded in 1990. Our task is to work with concrete actions to accelerate the green transition, and we serve the interests of our owners, Denmark, Finland, Iceland, Norway and Sweden. In addition to our own capital, we manage several trust funds on behalf of various donors to support environmental and climate-related projects. By focusing on small and medium-sized projects with tangible results, we demonstrate how green solutions can be implemented and scaled up in a sustainable and cost-efficient way. We evaluate project proposals and results using the EU Taxonomy classification, the Sustainable Development Goals, and our own environmental and sustainability criteria. www.nefco.int.
