CorrosionRADAR

Country
United Kingdom
First investment date
Status
Active
Finindus lead
Investment domains
Investment domains
Co-investors
Aramco Ventures
DOW
Mercia Ventures
Kanoo Ventures
Cranfield University
CorrosionRADAR
Gallery

CorrosionRADAR is a spin-off from the Cranfield University. The company has developed, patented, and is commercializing technology to detect and monitor 'corrosion under insulation' (CUI) using electromagnetic guided radar technology and with metallic detection wires as sensors. CorrosionRADAR is capable of measuring both humidity as well as the presence of corrosive conditions underneath thermal insulation, flagging the exact location where and degree to which corrosion processes are progressing.

Corrosion under insulation is a multi-billion-dollar problem affecting the process industry worldwide. Corrosion issues underneath thermal insulating layers of pipes and process vessels, invisible to the eye, pose real environmental risks and important safety concerns. Being able to pro-actively manage and perform risk-based maintenance not only avoids human and environmental catastrophes, it also guarantees optimal uptime of the installation, providing financial security to the operator.

What do our companies say ?

  • Der Aufbau eines Spin-Off Unternehmens und das Upscaling aufgebauter Technologien ist nicht völlig risikofrei. Hier hat sich Finindus nicht nur als Investor sonder auch als verlässlicher Partner herausgestellt, mit dem auch mal Engpässe überwunden werden können. Kann das eingeschlagene Konzept bestätigt werden, so ist die langfristige Investionsausrichtung van Finindus eine verlässige Wachtstumsgrundlage.

    Dr. Dirk Bohmann, founder of Borit GmbH

  • When Expanite was looking for new investors in 2014, a clear objective was to find international partners who could bring more to the company than simply financial support. After having Finindus on board for two years, we can confirm that we found exactly what we were looking for. The combination of skills, international outlook and experience - as well as insight into our industry - brings true value to our company.

    Thomas Abel Sandholdt, CEO of Expanite, DK

  • From the start, we were impressed by Finindus's knowledge of the industry and the opportunity for collaboration. Within a few months of closing the investment, we are already pursuing several potential projects together with ArcelorMittal and OCAS. The Finindus team has been great to work with, and the deep knowledge of and connections within the steel industry have been extremely valuable in accelerating our company's development. 

    Eric Smith, CEO Keystone Tower Systems

  • Finindus has been an ideal shareholder for us, investing with a long-term horizon and showing commitment in everything they do. Over the past 10 years, and by participating actively in our board, the hav contributed with very valuable strategic as well as more industry-specific knowledge and have shown a tremendous engagement in he development of the company. 

    Per Wassen, President ad CEO of PowerCell Sweden AB