Resand Ltd, a Finnish technology company specializing in the regeneration and recycling of foundry sand, has signed an agreement on new loan financing with Norion Bank. The agreement covers a EUR 14.5 million fleet financing loan with an ambition to increase the amount further.
Resand will use the funds to refinance its existing equipment and to acquire new sand regeneration machinery that will enable business growth. The funds will also be used for the company's internationalization and expansion into new markets. The demand for sand regeneration solutions is driven not only by the environmental goals of the foundry industry, but also by the need for cost efficiency and increased self-sufficiency as the demand for sand continues to grow.
"The financing agreement with Norion Bank is a very important step on our growth path. It enables us to grow our business, internationalize, and expand in line with our strategic objectives. With this important partnership, we can implement our strategy as planned and in a sustainable manner," says Mikko Immonen, CEO of Resand Ltd.
Norion Bank specializes in financing medium-sized companies and supporting growth companies. Norion Bank continuously seeks opportunities to finance companies that contribute to a more resource-efficient and low-carbon economy and whose financing can be directly connected to measurable climate and environmental outcomes. The formation of the financing agreement was driven by a shared vision of the tangible impact of Resand’s sand recovery solution on conserving global natural resources and mitigating climate change.
"From the very beginning, we were impressed by Resand’s clear and rare value proposition and the measurable environmental benefits of its solution worldwide. Resand combines strong commercial logic with tangible environmental impact, which made the collaboration a natural fit for Norion Bank. We are delighted to contribute to the growth of an innovative company like Resand – supporting both their expansion and the broader transition to a more sustainable economy," says Karl-Mikael Holmbäck from Norion Bank.
"It is great to continue our good cooperation with Norion Bank with the new financing agreement. Norion Bank's solid financial expertise, combined with a deep understanding of sustainability challenges and customer needs, makes it a highly valued partner for us," emphasizes Maarit Nissinen, CFO of Resand Ltd.
Circular economy solution revolutionizes the use of sand in the foundry industry
"Resand offers a genuinely circular business model—its Sand-as-a-Service (SAAS) solution turns a linear consumption pattern into a closed-loop system. This approach reduces both costs and environmental impact for customers. We believe circular economy solutions like Resand® will increasingly shape industrial value chains, driven by regulation, resource constraints, and the shift toward sustainable manufacturing," emphasizes Karl-Mikael Holmbäck and the ESG team at Norion Bank.
Sand is the second most used natural resource in the world after water, and its demand is particularly high in the foundry industry. Foundries use sand to make molds, resulting in more than 100 million tons of waste sand each year – less than one percent of which is recycled. Resand's sand regeneration technology and Resand® Sand-as-a-Service solution provide foundries with a sustainable alternative to the traditional operating model. Thanks to the solutions, the need for the procurement of virgin sand and the disposal of waste sand is significantly reduced, while transport and energy costs are decreased. A sand regeneration solution can reduce CO₂ emissions from sand use and transport by up to 80 percent. Since regeneration and recycling are offered as a service, foundries can also free up capital and focus on their core business.
RESAND LTD
Additional information
Mikko Immonen, CEO, Resand Ltd
mikko.immonen@resand.eu
+41 79 395 1973
Maarit Nissinen, CFO, Resand Ltd
maarit.nissinen@resand.eu
+358 40 044 4667
Karl-Mikael (Miku) Holmbäck, Senior Client Executive, Norion Bank
karl-mikael.holmback@norionbank.fi
+358 40 351 1321
Resand Ltd in brief
Sand suitable for industrial use is becoming scarce. However, the extraction of virgin sand can be reduced, and the resulting loss of biodiversity is slowed down by regenerating and reusing sand. Resand Ltd is a Finnish technology company specializing in foundry sand regeneration, offering its customers clean sand as a service. The Resand® solution enables almost 100% recycling of foundry sand and reduces transportation costs and CO2 emissions.
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.
The Resand® brings a solution to the global challenge by recycling sand - again and again and again. www.resand.eu
Norion Bank Group in brief
Norion Bank Group is a business-oriented Nordic financing bank. The Group’s brands – Norion Bank, Walley, and Collector – offer customized financing solutions that meet distinct needs in three customer segments: medium-sized corporates and real estate companies, merchants, and private individuals. As a specialist in financing solutions, Norion Bank Group is a leading complement to traditional large banks, with a vision of being the leading Nordic financing bank in its chosen segments.
Norion Bank offers corporate and real estate loans, as well as factoring for medium-sized corporates. The Walley brand offers flexible payment and checkout solutions to merchants and private individuals. The Collector brand offers personal loans and credit cards to private customers, as well as savings accounts to private individuals and companies. Norion Bank Group was founded in 1999 and has offices in Gothenburg, Stockholm, Helsingborg, Oslo and Helsinki. Business is conducted through Norion Bank AB (public), which is listed on Nasdaq Stockholm.