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Borit
Calyos
Europem
Expanite
Innecs
Keystone Tower Systems
Powercell
Rein4ced
Sentea

Borit

Website Borit

Borit manufactures sheet metal products and assemblies using its proprietary hydroforming technology resulting in advanced product designs with high forming quality and precision.

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1 June 2017

President of Flanders Geert Bourgeois visits BORIT NV and Hydrogenics

Vandaag bracht Vlaams minister-president Geert Bourgeois, een bezoek aan twee Vlaamse topbedrijven op vlak van waterstoftechnologie: Hydrogenics Europe NV (Oevel) en Borit NV (Geel). Hij kwam voor de gelegenheid met een waterstofauto.
Internationaal neemt de belangstelling voor waterstof sterk toe, zowel voor zero-emissie transport als voor opslag van groene elektriciteit. Ook in Vlaanderen is de verduurzaming van energie en mobiliteit een van de topprioriteiten van deze Vlaamse regering. De minister-president was onder de indruk van de grote expertise die we hier op Vlaamse bodem hebben inzake waterstof, als technologie voor een duurzame toekomst.

Mobiliteit
Recent keurde de Vlaamse regering de Energievisie goed, waarbij Vlaanderen de Europese maatregel onderschrijft om vanaf 2035 geen auto’s meer te verkopen op fossiele brandstof. Nieuwe wagens moeten tegen dan een nul-uitstoot hebben. Waterstof is één van de oplossingen.
Auto’s (en ook bussen, vrachtwagens, …) op waterstof stoten geen schadelijke stoffen uit, terwijl de actieradius en tanksnelheid vergelijkbaar zijn met die van voertuigen op traditionele brandstof.
Verder wordt waterstof- met zijn relatief lage specifieke gewicht en hoge energiedichtheid- ook gebruikt voor de opslag van zonne- en windenergie. Door overtollige duurzame energie om te zetten in waterstof, creëert men een energiebuffer en netstabilisator. De geproduceerde waterstof kan worden ingezet in mobiliteitstoepassingen of, in periodes van schaarste, weer worden omgezet naar elektriciteit.
Als inleiding op het bezoek vertelt Adwin Martens, directeur van WaterstofNet, dat Vlaanderen trots mag zijn want dat het verschillende unieke industriële spelers heeft op vlak van waterstof-technologie, die samen de ganse waardeketen op cruciale onderdelen invullen. Hydrogenics en Borit zijn hier mooie voorbeelden van.
Een goed half jaar geleden is bovendien – met steun van de Vlaamse overheid – de bedrijvencluster power-to-gas (van groene elektriciteit naar waterstof) opgericht. Deze is inmiddels gegroeid tot een sterke club van 26 bedrijven, die allemaal gericht samenwerken rond waterstof in Vlaanderen.

Hydrogenics Europe (Oevel)
Hydrogenics Europe behoort tot de wereldtop op vlak van de ontwikkeling en productie van
generatoren die waterstof produceren uit groene elektriciteit.
Het produceert al enkele decennia voor toonaangevende klanten over de ganse wereld elektrolyse-systemen.

Daar waar we enkele jaren geleden vooral waterstofgeneratoren voor gebruik van waterstof in de industrie leverden, hebben we nu meer en meer klanten die waterstofgeneratoren aanschaffen voor tankstations of voor energieopslag.” zegt Filip Smeets, CEO van Hydrogenics Europe.
Bij Hydrogenics in Oevel werken 75 mensen.
Het moederbedrijf, gevestigd in Canada, produceert brandstofcellen (het ‘omgekeerde’ van generatoren). Brandstofcellen zitten in waterstofauto’s (en andere transportmiddelen op waterstof), en produceren uit de waterstof opnieuw elektriciteit.

Borit (Geel)
Borit behoort tot de wereldtop op vlak van de productie van geavanceerde bipolaire platen, cruciale componenten van elektrolyseurs en brandstofcellen. Borit heeft voor de productie van deze zeer dunne (0,1mm) metalen platen unieke productieprocessen ontwikkeld, waardoor zowel de ontwikkelingscyclus als uitval als kostprijs sterk gereduceerd konden worden.
Borit produceert bipolaire platen voor heel wat industriële spelers waaronder een aantal van de grootste OEM’s in de automotive sector. Een brandstofcel voor een auto bevat een 400-tal van deze zeer complexe metalen platen en zijn cruciaal voor de goede werking ervan.
Sinds onze opstart als Vlaamse start-up in 2010 hebben we een mooi groeitraject als industrieel bedrijf afgelegd”, stelt Luc Wanten, CEO Borit NV. “Met de steun van onze aandeelhouders en alle stakeholders is het de bedoeling om in Geel onze hoogwaardige ‘world-class pilot plant’ voor deze nieuwe en duurzame technologie verder uit te bouwen.”

Reactie minister-president Geert Bourgeois
Minister-president Bourgeois zegt onder de indruk te zijn van de producten van deze Vlaamse bedrijven en van de plaats die zij veroverd hebben in de wereld van de waterstoftechnologie:
Het is nog maar eens een bewijs dat we in Vlaanderen parels van bedrijven hebben, die in de technologie naar een duurzame samenleving, een belangrijke rol spelen. Als Vlaamse overheid moeten we deze bedrijven waar mogelijk ondersteunen, bijvoorbeeld op vlak van onderzoek en ontwikkeling. In januari 2017 hebben 13 grote bedrijven (o.a. Shell, Total, Daimler, Toyota, Hyundai, Honda, Air Liquide, Engie, BMW, …) aangekondigd dat ze de komende jaren meer dan 10 miljard dollar in waterstof gaan investeren. We mogen dan ook terecht fier zijn dat de bedrijven die we vandaag bezochten ook op dit niveau meespelen.”

Meer info:
www.waterstofnet.eu
www.hydrogenics.com
www.borit.be

Calyos

Website Calyos

Calyos develops and commercializes two-phase thermal regulation systems. Thanks to the exceptional thermal performance, Calyos' two-phase heat transfer systems are enabling energy efficient customer applications.

Europem

Website Europem

Europem develops and delivers 'environmental payback projects', using proprietary technologies to recover energy and/or valuable products from industrial effluents, waste and residues.

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16 December 2016

The management, existing shareholders and Finindus join forces to support Europem’s further international expansion - Dec 2016

Lier, Belgium - 16 December 2016 - Europem, a Lier (Belgium) based engineering and technology company specialized in environmental and energy related process technologies, has received a 2 million Euro capital injection from its existing shareholders: Marcel Goemans - Europem’s CEO, Vuurvast and Tialoc, as well as from its new shareholder, Finindus.

Europem develops and delivers “environmental payback projects” using a range of in-house developed proprietary technologies. These technologies recover energy and/or valuable products from industrial effluents, waste and residues, generating a new source of income for its clients.

Europem’s proprietary technologies are applied in different solutions:

•       for energy production: advanced multifuel/flexifuel burners, advanced thermal oxidizers, boilers and heaters, energy-from-waste systems;

•       for product recovery: vapor recovery units (VRU), flare gas recovery units (FGRU) and sulfur recovery units (SRU);

•       for safety and environmental protection: vapor extraction and treatment (ATEX Zone 0), elevated flares, ground flares and combustors, deNOX and gas cleaning systems

Europem is a well-known supplier to the chemical and petrochemical as well as steel industry, and is further extending its reach in new geographies and newly developing business areas. The company has activities worldwide and has established branches and subsidiaries in France, Italy, the UAE (Dubai) and India. Through a partnership with Tialoc, one of its shareholders, Europem also serves the Chinese market.

The company experienced double digit year-on-year growth for the last three years. An ambitious expansion in strategic growth markets outside Europe was started in 2014, which has resulted in major commercial breakthroughs in India, the Middle East and South America in 2016:

In January Europem was awarded the design and construction of a hazardous waste treatment plant for the leading waste management company in Ecuador;
In July the company won a 6 million Euro contract with the Oil and Natural Gas Company of India (ONGC) – the largest public oil & gas company in India – in a project to eliminate H2S emissions at their largest gas treatment plant, located in Uran, near Mumbai (India);
In November the company won a repeat order to supply thermal processing equipment for a new sulfur recovery unit (SRU) at the Numaligerh Refinery in Assam (India);
In December the company was awarded the design and construction of a hazardous waste incineration facility as part of a multi-billion Euro green field chemical project in Oman.
In a comment to the transaction Marcel Goemans, CEO of Europem states: ’With the recent sharp growth in high profile customer projects it was clear we needed to strengthen our balance sheet. Finindus helped us to do exactly that, while also bringing an industrial mindset and strong network to the table.’

‘We are excited to be able to support a Flemish technology company in its international growth,’ added Hans Maenhout, Investment Director of Finindus, ‘especially since Europem offers innovative but proven technologies focusing on environment and energy, not co-incidental two key topics for both our shareholders.’

ABOUT EUROPEM

Europem was founded in 1999 by a group of combustion engineers, combining over 150 years of cummulative experience in the field. Europem started as an engineering & technology company and EPC contractor and has grown into a full-service provider along the project life cycle: from performing feasibility studies over full engineering, procurement and construction activities to offering operational support and maintenance services, once in operation.

Europem has built over 250 installations in more than 35 countries on all continents.

(www.euro-pem.com)

 

ABOUT FININDUS

Finindus is a Belgian investment company backed by ArcelorMittal and the Flemish Region. Finindus invests in early stage and growth companies, with a specific focus on materials, material processing and sustainable manufacturing.

(www.finindus.be)

 

 

For further information please contact:

Marcel Goemans, CEO

Tel.         : +32 473 92 93 32

Email     :  mgoemans@euro-pem.com

Hans Maenhout, Investment Director at Finindus.

Tel.         : +32 9 - 345 12 07

Email     : hans.maenhout@finindus.be

Expanite

Website Expanite

Expanite commercialises gas phase technology for the surface hardening of stainless steel and other high performance metals, while maximizing corrosion resistance.

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28 December 2016

Expanite raises 10 million DKK (1.3 million EUR) to support further internationalisation - Dec 2016

Hillerod, Denmark – 28 December 2016 - Expanite, a Danish company specialized in surface hardening of stainless steel, titanium and other high performance metals attracted 1.3 million euro in capital from its existing shareholders to fund further international expansion.

Expanite was founded in 2010 by three scientists from the Technical University of Denmark (DTU). The company commercialises a patented gas phase technology for the surface hardening of stainless steel, titanium and other high performance metals, while maintaining or even increasing the material’s corrosion resistance. In 2012, Expanite entered into its first commercial licensing agreement. In August 2013 it opened a development and production facility in Hillerod (near Copenhagen). Since then the business has grown significantly: in the course of 2016 new license agreements were signed, the company started commercial activities as well as production in the United States and it invested in an additional service center in Europe (Frickenhausen, Germany), set to be operational early 2017.

"Expanite has been able to make great progress in both its service center as well as its licensing business model, serving many industries incl. automotive, process equipment for the food and pharma industry, oil & gas, medical devices and more general industrial products. The next logical step is towards further international expansion, "says CEO, Thomas Abel Sandholdt.

"The mix of Danish and foreign shareholders provide the company with a solid financial basis combined with a true international view and industrial network, "says company chairman Thomas Folmann.

For Finindus, which is owned by the Flemish Region and ArcelorMittal, the world's largest steel supplier, the investment in Expanite is in line with their strategy. "We are constantly looking for innovative companies in the area of materials and material processing that are enablers for different relevant industries. Expanite stands out not only in technology but also in team and commercial approach to the market. We have already seen the first series of commercial successes, but we are convinced the best is yet to come," says Hans Maenhout, Investment Director at Finindus.

Press contact
Thomas Abel Sandholdt, CEO of Expanite, +45 2040 7207, tsa@expanite.com

About Expanite
Expanite offers the state of the art solutions for surface hardening of stainless steel, titanium and other high performance metals. With Expanite's processes for the curing of stainless steel, it is possible to increase the material’s surface hardness tenfold while at the same time maintaining and even increasing its corrosion resistance. Expanite has a combined development and production facility near Copenhagen, Denmark, and operates service centers in the USA and Germany. Expanite's solutions are flexible and can be tailored to be introduced into a customer’s own production line as part of a licensing arrangement.
www.expanite.com

About Seed Capital
SEED Capital is the largest venture fund in Denmark within the pre-seed and seed segment and specializes in identifying and developing new and innovative technology companies.
www.seedcapital.dk

About LF Investment
LF Investment is the investment arm of the Lauritzen Foundation, the parent company of the shipping companies J. Lauritzen and DFDS. LF Investment has, among others invested in companies in the oil, software and biotech industry.
www.lauritzenfonden.com

About Finindus
Finindus is a Belgian investment company backed by ArcelorMittal and the Flemish Region. Finindus invests in early stage and growth companies, with a specific focus on materials, material processing and sustainable manufacturing.
www.finindus.be

3 June 2014

Finindus invests in Expanite A/S - June 2014

Pioneer in surface hardening of stainless steel raises capital to support further growth
Expanite, a Danish company specialized in surface hardening of stainless steel and other high performance metals attracted several million euros in capital from the Danish capital funds SEED Capital and LF Investment, as well as Belgium-based Finindus and a number of smaller Danish investors. The proceeds will be used to support further commercial development and for international expansion.

Expanite was founded in 2010 by three scientists from The Technical University of Denmark. The company commercialises a gas phase technology for the surface hardening of stainless steel and other high performance metals, while maintaining or even increasing the material’s corrosion resistance. In 2012 Expanite entered into its first commercial licensing agreement with an industrial customer. In August 2013 it opened a brand new combined development and production facility in Hillerod (near Copenhagen).

"Expanite's technology adds significant value in many industries incl. automotive, process equipment for the food and pharma industry, oil & gas, medical devices and more general industrial products. With a proven technology and the necessary financial backing, the company is now well positioned for international growth, "says CEO, Thomas Abel Sandholdt.

Danish and foreign capital to come together:

"It's no secret that Expanite’s strong value proposition attracted the attention of different potential investors. It gave us the opportunity to carefully select the investor team in relation to the opportunities that the company faces and it allowed the company to attract not only Danish, but also foreign capital, "says company chairman Thomas Folmann.

Fredrik Siwmark, CFO at LF Investment, says: "At LF Investment, we aim to invest in Danish entrepreneurship and potential growth companies. With Expanite's combination of cutting edge technology and a strong team, we see them as a good exponent of just that. "

For Finindus, which is owned by the Flemish Region and ArcelorMittal, the world's largest steel supplier, the investment in Expanite is in line with their strategy. "We are constantly looking for innovative companies where we can contribute not only capital but also our knowledge and network. With Expanite we found a great match," says Hans Maenhout, Investment Director at Finindus.

SEED Capital invested already in Expanite in 2010 and again in 2012, thus supporting the company since its inception. "Expanite’s technology has a large long-term potential. We are pleased to see that other investors see the opportunities as well, and in this investment round we have created the basis for the company to realize the full potential of what we saw very early on, "says Managing Partner at SEED Capital, Ulla Brockenhuus-Schack.

Press contact
Thomas Abel Sandholdt, CEO of Expanite, +45 2040 7207, tsa@expanite.com

About Expanite
Expanite offers the best solutions for surface hardening of stainless steel and other high performance metals. With Expanite's processes for the curing of stainless steel, it is possible to increase the material’s surface hardness tenfold while at the same time maintaining and even increasing the corrosion properties. This is unprecedented in the heat treatment and hardening of the stainless steel. Expanite has a combined development and production facility near Copenhagen, Denmark. The installed production equipment includes various ovens from very small to the 'full size' furnaces with capacities of up to 600 kg and a size of 60x60x90cm. Expanite's solutions are flexible and can be tailored to be introduced into a customer’s own production line.
www.expanite.com

About Seed Capital
SEED Capital is the largest venture fund in Denmark within the pre-seed and seed segment and specializes in identifying and developing new and innovative technology companies.
www.seedcapital.dk

About LF Investment
LF Investment is the investment arm of the Lauritzen Foundation, the parent company of the shipping companies J. Lauritzen and DFDS. LF Investment has, among others invested in companies in the oil, software and biotech industry.
www.lauritzenfonden.com

About Finindus
Finindus is a Belgian investment company backed by ArcelorMittal and the Flemish Region. Finindus invests in early stage and growth companies, with a specific focus on materials, material processing and sustainable manufacturing.
www.finindus.be

Innecs

Website Innecs

Innecs offers innovative energy conversion systems converting fuels to heat (steam) and power.

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10 October 2016

Innecs Receives Substantial Growth Investment to Fund International Expansion - Oct 2016

Eindhoven, the Netherlands, October 10, 2016 – Innecs Power Systems BV, a Dutch provider of solutions that enable industrial sites to increase their energy efficiency, has received a substantial growth equity investment to support its further international expansion.

 

 

The financing was led by main investor Brabant Development Agency (BOM Capital) and Finindus, a Belgian investment company backed by ArcelorMittal and the Flemish Region.The new funds will be used to invest in sales and marketing and to set up a network of local distribution partners to capitalize on international growth opportunities.

 

“We are experiencing active demand from Europe, the Middle East and Asia across our product portfolio. The new funds enable us to scale up the organization and take advantage of these promising opportunities,” said Reidar Koolen, CEO of Innecs. “Apart from continuing our productive partnership with BOM, we are very pleased to welcome our new investor Finindus. They have relevant expertise, an extensive industry network and a direct link to ArcelorMittal, the world’s largest steel producer. We look forward to working with them as we realize our growth plans.”

 

Founded in 2004, Innecs offers a range of intelligent solutions to help industrial sites and small to medium-sized businesses increase their energy efficiency and reduce their environmental impact. In Europe, multiple customers are already relying on Innecs’ BoilerBurner to comply with regulation to reduce nitrogen oxide (NOx) emissions. Meanwhile, Innecs’ SteamExpander and PowerBurner use innovative technology to help industrial clients generate both steam and electricity to power on-site processes in a cost-effective and responsible manner.

 

“There’s an enormous potential for energy savings in the industry segment. In an ideal world everyone, even industrial sites, should exclusively use renewable energy, but the energy transition is a process that won’t happen overnight. With more than 60,000 steam boilers in Europe alone, fossil fuels will remain crucial to the energy supply of industrial sites for decades to come,” Koolen continued.

 

“Innecs has a unique and realistic approach to addressing the energy and environmental efficiency of industrial companies, which account for a considerable share of total energy consumption in the world,” commented Miriam Dragstra, Director of BOM Capital. “We are pleased to continue our partnership and enable this innovative company to realize its ambitions in and outside Europe.”

 

“After years of development work, Innecs has managed to build a balanced portfolio of intelligent solutions that are ready to address a serious need in the market. Industrial groups are increasingly interested in energy efficiency, not only because of cost considerations but also to reduce their environmental footprint,” said Hans Maenhout, Investment Director at Finindus. “Innecs’ solutions have been designed with simplicity and efficiency in mind, they are compact and have a short payback period, which are all key differentiators in an industrial context.”

 

 

 

About Innecs
Founded in 2004, Innecs Power Systems BV is a Dutch provider of solutions that help industrial sites, and small and mid-sized businesses increase their energy efficiency and reduce their environmental impact when using steam. The BoilerBurner is an industrial burner that enables clients to reduce nitrogen oxide (NOx) emissions, while the SteamExpander and PowerBurner use innovative technology to generate both steam and electricity to power on-site processes in a cost-effective and responsible manner. (www.innecs.nl)

 

About BOM
The Brabant Development Agency (BOM) endeavors to promote an innovative and resilient economy in the Dutch province of Brabant, giving the region a lasting competitive edge in a rapidly globalizing world. The emphasis in this policy is focused on the top economic clusters, crossovers between these clusters, and linking these clusters to social issues.

BOM encourages companies, local and national authorities and knowledge institutes to realize the economic ambitions nurtured by the province of Brabant. The starting point in this is to provide smart solutions to social problems. BOM’s core tasks involve forging alliances between companies and institutions, attracting foreign companies, investing risk capital in both innovative startups as well as growing companies and developing business sites. (www.bom.nl)

 

About Finindus
Finindus is a Belgian investment company backed by ArcelorMittal and the Flemish Region. Finindus invests in early stage and growth companies, with a specific focus on materials, material processing and sustainable manufacturing. (www.finindus.be)

 

 

 

For further information please contact:

 

Reidar Koolen, CEO at Innecs.

Tel.       : +31 (0)85 – 27 33 160

Email    :  r.koolen@innecs.nl

Keystone Tower Systems

Website Keystone Tower Systems

Keystone Tower Systems has developed and patented a highly efficient technology to produce wind turbine towers using spiral welding.

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30 October 2017

Keystone Tower Systems Attracts Growth Capital to Support its International Expansion

Westminster, CO, USA - 30 October 2017 – Keystone Tower Systems Inc, a Colorado based technology company, has secured significant growth capital to further support the global roll out of its advanced wind turbine tower manufacturing technology.

Keystone Tower Systems has developed and patented an innovative process for spiral welding conical steel structures, enabling greater production efficiencies. The company is tailoring its spiral welding technology for the production of wind turbine towers. The technology significantly reduces the overall cost of tower manufacturing through increased throughput and lower labor and material costs, resulting in a reduction of the levelized cost of energy (LCOE) for wind. The first commercial tower production is planned for 2019.

Earlier this year, Keystone partnered with a leading equipment OEM in the steel industry to roll out the technology worldwide. The first phase focuses on licensing its spiral welding technology to existing tower manufacturing plants for conventional dimension towers. In the follow-up phase, they will pursue mobile manufacturing facilities producing large diameter wind towers at the wind farm site, eliminating limitations on the tower diameter imposed by road transport restrictions.

The current investment round is led by a consortium of Keystone’s existing investors together with Finindus, a Belgium based venture capital company funded by ArcelorMittal and the Flemish Region; the Colorado Impact Fund, a Colorado based fund dedicated to supporting Colorado companies that generate consistent investment returns in addition to positive community impact; and Zoma Capital, the investment arm for the family office of Ben and Lucy Ana Walton, based in Denver, which invests in a broad range of market-based sustainable solutions addressing environmental and social problems.

“We are thrilled to bring onboard incredible partners who will help us accelerate our roll-out plan,” Eric Smith, CEO of Keystone Tower Systems, commented on the transaction.

“Steel and welding technology are at the core of the business of one of our shareholders. It is clear that Keystone Tower Systems is a natural fit within our investment focus,” Hans Maenhout, Investment Director at Finindus, commented.

“The Colorado Impact Fund is excited to support Keystone Tower Systems as it develops and commercializes a world-class technology that will further cement Colorado’s position as a leader in the wind energy sector,” said Scott Reich of the Colorado Impact Fund.

Melissa Cheong, Zoma's Chief Investment Officer, remarked, “We are excited to support an innovative Colorado-based business whose technology has the potential to accelerate the adoption of wind power and expand the geographic reach of renewable energy development.”

ABOUT KEYSTONE TOWER SYSTEMS

Keystone Tower Systems, founded in 2010, is a Colorado based company specializing in innovative wind tower manufacturing technologies. It is the only company in the world with the technology to spiral weld wind towers.

www.keystonetowersystems.com

 

ABOUT FININDUS

Finindus is a Belgian investment company backed by ArcelorMittal and the Flemish Region. Finindus invests in early stage and growth companies, with a specific focus on materials, material processing and sustainable manufacturing.

www.finindus.be

ABOUT COLORADO IMPACT FUND

The Colorado Impact Fund, founded in July 2014, is a venture capital firm dedicated to supporting local Colorado companies that generate consistent investment returns in addition to positive community outcomes. Investors in the Fund include some of Colorado’s most respected executives, families, foundations and corporations, each of whom is committed to making a difference in the State of Colorado and beyond. Targeting investments in the areas of community health, natural resource conservation, education and workforce development and economic development, the Colorado Impact Fund leverages its collective experiences, resources and networks to help Colorado entrepreneurs create exceptional and lasting companies.

www.coloradoimpactfund.com

 

ABOUT ZOMA CAPITAL

Zoma Capital is the investment arm for the family office of Ben and Lucy Ana Walton, based in Denver. Zoma manages an investment portfolio with strategies in Colorado and in Chile focused on issues of energy, water, community development, workforce development and mental health.

 

For further information please contact:

Anna Moon, VP of Business Development & Strategy

Email     : info@keystonetowersystems.com

Powercell

Website Powercell

Powercell develops, manufactures and commercializes PEM fuel cells, fuel reformers and auxiliary power units for higher energy efficiency and lower harmful emissions.

Related news

7 January 2019

PowerCell and global contruction equipment OEM to conduct joint fuel cell feasibility study

PowerCell Sweden AB (publ) has received an order for two MS-100 fuel cell systems from a global construction equipment manufacturer.
“The increasing demands for fossil free operations faces construction equipment manufacturers with the same challenges as the rest of the automotive industry, and for the really heavy equipment, electrification using fuel cells will be the most attractive alternative for addressing them”, Per Wassén, CEO of PowerCell said.

The research project includes PowerCell, a global construction equipment manufacturer and a government-backed research institute. The aim of the research is to build knowledge about construction equipment drive trains that have been electrified using fuel cells and hydrogen.

In general, today’s construction machines use diesel engines for propulsion and in doing so emit carbon dioxide, NOx and particulate matters, but climate and health related issues have spurred an interest in a transition away from fossil fuels. In several European cities stricter emission regulations are being prepared and the Norwegian capital Oslo has set a target to be fossil free by 2030, something that will require a wide-ranging electrification of construction equipment. An electrification using today’s battery technology is not commercially viable for the heaviest construction equipment.

“In certain sizes and types of heavy equipment, when it comes to running time and performance, the energy density of today’s batteries is not even close to meeting the demands”, Per Wassén, CEO of PowerCell said. “An electrification where you combine fuel cells and hydrogen will, however, result in a machine that can be fueled at approximately the same time as a traditional construction machine, that can operate just as long and with the same performance – and has water as its only emission.”

For further information, please contact:

Per Wassén
CEO, PowerCell Sweden AB (publ)
Phone: +46 (0) 31 720 36 20
Email:
per.wassen@powercell.se

About PowerCell Sweden AB (publ) 
PowerCell Sweden AB (publ) develops and produces fuel cell stacks and systems for stationary and mobile applications with a world class energy density. The fuel cells are powered by hydrogen, pure or reformed, and produce electricity and heat with no emissions other than water. As the stacks and systems are compact, modular and scalable, they are easily adjusted to any customer need.

PowerCell was founded in 2008 as an industrial spinout from the Volvo Group. The share (PCELL) is since 2014 subject to trade at Nasdaq First North Stockholm with G&W Fondkommission as Certified Adviser.

18 December 2018

PowerCell and Robert Bosch sign term sheet regarding PowerCell S3 for the automotive segment

PowerCell Sweden AB (publ) has signed a term sheet with the German automotive supplier company Robert Bosch GmbH, regarding a joint development cooperation for the automotive segment regarding PowerCell’s automotive fuel cell stack PowerCell S3 and PowerCell’s fuel cell systems. The parties have also agreed thatPowerCell shall start supplying Robert Bosch GmbH with fuel cell stacks for use in Bosch’s prototype fuel cell systems for the automotive industry.

Following the signing of the term sheet the two parties will engage in detailed negotiations about the exact terms for the development cooperation. The ambition of the two parties is to be able to finalize these negotiations in the first half of 2019.

The coming negotiations will include scope of cooperation, intellectual property rights, field of use, production and licensing agreements as well as remuneration and licensing fees.

Powercell’s fuel cell stack PowerCell S3 has been specifically developed to meet the needs of the automotive segment and has market leading power density and durability. Robert Bosch GmbH is one of the world’s largest and most well-known supplier to the automotive industry. As part of the term sheet the parties have also agreed that PowerCell shall start supplying Robert Bosch GmbH with fuel cell stacks for use in Bosch prototype fuel cell systems for the automotive industry.

For further information, please contact:

Per Wassén
CEO, PowerCell Sweden AB (publ)
Phone: +46 (0) 31 720 36 20
Email: 
per.wassen@powercell.se

This information is insider information that PowerCell Sweden AB (Publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 18:30 CET on December 18, 2018.

About PowerCell Sweden AB (publ) 
PowerCell Sweden AB (publ) develops and produces fuel cell stacks and systems for stationary and mobile applications with a world class energy density. The fuel cells are powered by hydrogen, pure or reformed, and produce electricity and heat with no emissions other than water. As the stacks and systems are compact, modular and scalable, they are easily adjusted to any customer need.
 PowerCell was founded in 2008 as an industrial spinout from the Volvo Group. The share (PCELL) is since 2014 subject to trade at Nasdaq First North Stockholm withG&W Fondkommission as Certified Adviser.

19 October 2018

PowerCell inaugurated one of the world’s most powerful fuel cell laboratories

PowerCell Sweden AB (publ) today inaugurated its brand-new fuel cell laboratory at the company’s premises in Gothenburg, Sweden. The total investment amounts to MSEK 25 and makes it possible for PowerCell to test fuel cell stacks with an effect of up to 150 kW, which is required when developing products for larger applications such as heavy-duty trucks and buses and marine and stationary instalments. 

The laboratory was inaugurated at a ceremony attended by the company’s management team and employees. The new laboratory comprises two test beds, each with a testing capacity for fuel cells and fuel cell systems of up to 150 kW, providing PowerCell with an additional total testing capacity of 300 kW. The new laboratory is an important expansion of the existing test capacity.

“This new laboratory represents a significant improvement of our ability to run long-term tests of the really powerful stacks that will be required for a commercially viable electrification of heavy duty vehicles like trucks and buses”, said Martin Berggren, head of the laboratory at PowerCell. “This is one of the world’s most complete and powerful fuel cell laboratories.”

The construction of the new laboratory has been going on for almost a year and the total investment amounts to approximately 25 MSEK. The decision to build the new facility was made against the back of the steadily growing interest within an increasing number of market segments, for electrification using fuel cells and hydrogen. The automotive industry was the first to test fuel cells running on hydrogen, but the interest for using the technology for a transition to a more sustainable use of energy is spreading to several new segments, such as trucks and buses, marine applications and stationary power.

“As new sectors begin to test this technology, we must be able to develop ever more powerful fuel cell stacks and fuel cell systems, and here our new laboratory will play a very important role,” Per Wassén, CEO of PowerCell said.

PowerCell has already begun to explore new market segments and last August signed a MOU with the German industrial company Siemens AG, for the joint development of fuel cell-based drive and power generating systems for commercial shipping.

For further information, please contact:

Per Wassén
CEO, PowerCell Sweden AB (publ)
Phone: +46 (0) 720 36 20
Email:
per.wassen@powercell.se

About PowerCell Sweden AB (publ) 

PowerCell Sweden AB (publ) develops and produces fuel cell stacks and systems for stationary and mobile applications with a world class energy density. The fuel cells are powered by hydrogen, pure or reformed, and produce electricity and heat with no emissions other than water. As the stacks and systems are compact, modular and scalable, they are easily adjusted to any customer need.

PowerCell was founded in 2008 as an industrial spinout from the Volvo Group. The share (PCELL) is since 2014 subject to trade at Nasdaq First North Stockholm with G&W Fondkommission as Certified Adviser.

Rein4ced

Website Rein4ced

Rein4ced produces carbon and steelfibre reinforced composites, initially targetted at high end bike frame applications.

Related news

18 December 2018

Rein4ced receives 1.164 Mio € Strategic Transformation Support from the Flemish Government

The Flemish Government grants strategic transformation support of 1.164 million euro to REIN4CED NV, upon proposal by Philippe Muyters, Flemish minister of Work, Economy, Innovation and Sports.

De motivation of the Flemish Government reads as follows: "Initially REIN4CED primarily targeted advising customers on the use of fiber-strengthened composite materials, en now has become an expert in the production of composite materials. Over the past three years the company has intensively researched a new type of hybrid composite materials that can be a full and better replacement for carbon. The next step, and the transformation project, is setting up an automated production facility for commercializing the research of hybrid composites for the production of bicycle frames."

Combined material innovation & process automation

The basis for REIN4CED’s innovation is the development of a new impact-resistant composite material for bicycle frames. The disruptive impact-resistant material eliminates the sudden and dramatic failure of carbon bicycle frames that put riders’ lives in danger. REIN4CED’s new lightweight material combines carbon with fine steel fibers, offering cyclists maximum performance with enhanced safety and durability.

A second disruption is the patent-pending method that REIN4CED developed for automated production of bicycle frames. Today, carbon race bicycles and mountain bikes are produced in Asia because bicycle production is a largely manual process with low hourly wages. Currently the team is working to bring its automated process to an industrial scale through its production plant in Leuven. The combined material innovation and process automation is a decisive stronghold of REIN4CED.

Bring back carbon frame production to Europe

Already late 2019, REIN4CED’s first impact-resistant frames will roll off the new production line. The production facility of REIN4CED will allow customers – leading cycling brands – to bring back carbon frame production from Asia to Europe. As a result, they will benefit from significant logistic advantages as well as increased supply chain flexibility and efficiency.

The REIN4CED facility in Leuven will start at an annual production capacity of at least 20,000 bicycle frames and is ready to be easily upgraded to meet higher production capacity. It is a scalable process that allows REIN4CED to steadily increase production volumes in response to the growing demand for localized production in Europe.

Targeting automotive and aerospace industries

REIN4CED focuses on the bicycle world because this fast-paced industry is constantly searching for new material innovations. The advantage of the patented material is that any inflicted damage remains visible after an impact and that its structural integrity is maintained. The new composite material combined with a repeatable and automated process is much desired in other composite-intensive markets such as automotive and aerospace.

Click here for more information.

15 November 2018

Rein4ced nominated for Deloitte Fast 50 Rising Star

November 15, 2018 - Great apotheosis after it nomination for Deloitte Fast 50 Rising Star.

This evening, CEO Michaël Callens and COO Niels De Greef were excited and proud when receiving the 'Most Disruptive Innovator' award! The award was handed over on Deloitte's Fast50 and Rising Star competitions celebration. Thank you to the entire REIN4CED team for its inspiring composites innovation.

Combined material innovation & process automation

Undoubtedly, the jury was impressed by REIN4CED’s new impact-resistant composite material for bicycle frames. The disruptive impact-resistant material eliminates the sudden and dramatic failure of carbon bicycle frames that put riders’ lives in danger. REIN4CED’s new lightweight material combines carbon with fine steel fibers, offering cyclists maximum performance with enhanced safety and durability.

A second disruption is the patent-pending method that REIN4CED developed for automated production of bicycle frames. Today, carbon race bicycles and mountain bikes are produced in Asia because bicycle production is a largely manual process with low hourly wages. Currently the team is working to bring its automated process to an industrial scale through its production plant in Leuven. The combined material innovation and process automation is a decisive stronghold of REIN4CED.

Bring back carbon frame production to Europe

Already late 2019, REIN4CED’s first impact-resistant frames will roll off the new production line. The production facility of REIN4CED will allow customers – leading cycling brands – to bring back carbon frame production from Asia to Europe. As a result, they will benefit from significant logistic advantages as well as increased supply chain flexibility and efficiency. 

The REIN4CED facility in Leuven will start at an annual production capacity of at least 20,000 bicycle frames and is ready to be easily upgraded to meet higher production capacity. It is a scalable process that allows REIN4CED to steadily increase production volumes in response to the growing demand for localized production in Europe.

Targeting automotive and aerospace industries  

REIN4CED focuses on the bicycle world because this fast-paced industry is constantly searching for new material innovations. The advantage of the patented material is that any inflicted damage remains visible after an impact and that its structural integrity is maintained. The new composite material combined with a repeatable and automated process is much desired in other composite-intensive markets such as automotive and aerospace.

26 September 2018

REIN4CED reveals its new Europe-based production location

 

Next-generation high-end composite bicycle frames to be produced in Belgium in 2019

Leuven (Belgium) – September XX, 2018 – In order to meet customer demand in bringing high-end impact-resistant bicycle frames to the market, REIN4CED is setting up an automated production line. This production line will be installed in Leuven (Belgium) and will deliver its patented impact-resistant frames starting late 2019. By opening this production line, REIN4CED will allow its customers – leading cycling brands – to bring back carbon frame production from Asia to Europe. As a result, they will benefit from significant logistic advantages as well as increased supply chain flexibility and efficiency.

The new production plant for innovative bicycle frames is a major milestone in the further growth path of REIN4CED. “Already late 2019, our first impact-resistant frames will roll off the new production line,” says Dave Luyckx, CPO REIN4CED. “Moreover, REIN4CED is actively engaged in advanced discussions with multiple world-leading cycling brands that want to incorporate REIN4CED’s patented impact-resistant material in their portfolio.”

Michaël Callens, CEO REIN4CED: “The REIN4CED facility in Leuven will start at an annual production capacity of at least 20,000 bicycle frames and is ready to be easily upgraded to meet higher capacity for our customers.” For that reason, REIN4CED’s new Belgian facility and its choice of state-of-the-art production equipment allow to steadily increase the production volumes in response to growing demand for localized production in Europe. Located centrally in Europe, and less than twenty kilometers away from Brussels international airport, the facility enables REIN4CED to flexibly host bicycle industry delegates and ship frames internationally.

On September 26-28, REIN4CED will exhibit on Taichung Bike Week, the world’s leading worldwide trade show for the bicycle industry.

About REIN4CED

REIN4CED is a Belgian engineering company with extensive expertise on composite manufacturing and bicycle frame development. It has developed and patented a new fiber-strengthened composite material which will be brought to an industrial scale. In its new production line, REIN4CED will manufacture impact-resistant and lightweight bicycle frames for brands wishing to offer their cyclists maximum performance with enhanced safety and durability.

 

For more information, contact Dave Luyckx

Mobile: +32 486 16 53 47

Email: dave.luyckx@rein4ced.com

 

REIN4CED NV

Interleuvenlaan 62, 3001 Leuven, Belgium

Telephone: +32 16 39 47 68

Email: info@rein4ced.com

Website: https://rein4ced.com/

Sentea

Website Sentea

SENTEA (BE,2018) develops interrogators for fibre optic sensors (a.o. fibre bragg grating sensors). By integrating the optical parts directly on a chip and using existing fabs, the interrogator can be made more robust and more reliable, and be offered at a substantially lower cost. SENTEA enables condition monitoring to become the standard.

Related news

10 September 2018

Finindus invests in Sentea, a fiber optic sensing spin-off launched by UGent and imec

Silicon photonics based fiber optic sensing allows for highly accurate, small, robust and cost-efficient structural health monitoring and process control

Ghent (Belgium) - September 10, 2018 – Ghent University (UGent) and imec today announced the incorporation of Sentea, a spin-off from their world leading Photonics Research Group. An initial 1.6 million Euro in funding was raised from Fidimec, Finindus, PMV and QBIC II and the founders. Sentea will develop and market advanced silicon photonics based fiber optic sensing solutions. These will be used to continuously monitor engineering structures for signs of damages that over time could lead to catastrophic failure, as well as to control industrial installations to maximize their efficiency.

According to the new market research report from MarketsandMarkets, the structural health monitoring market is estimated to grow from USD 1.48 billion in 2018 to USD 3.38 billion by 2023, at a CAGR of 17.93% between 2018 and 2023. The major factors driving the growth of the structural health monitoring market include concerns about catastrophic failure due to aging infrastructures in the developed countries, stringent government regulations pertaining to the sustainability of structures, and the superior benefits of structural health monitoring. Furthermore, the structural Health Monitoring Market for the Energy vertical is expected to grow at a rate of more than 20% from 2018-2023, owing to various applications such as wind turbines, nuclear power plants and hydropower plants.

“Integrating all optical functions into a single silicon photonics component will allow us to make highly accurate, small and robust fiber optic sensor interrogators. Silicon photonics is also very cost-effective, which makes fiber optic sensing affordable for a wide range of new markets and applications and facilitates universal and continues monitoring of structures”, commented Karsten Verhaegen, CEO of Sentea. “Key potential customers have expressed great interest in Sentea’s solutions, stating that better infrastructure lifetime management and process control makes them more competitive in their respective markets.”

“Sentea builds on state-of-the-art silicon photonics technology IP that has been developed at the Photonics Research Group of imec and the UGent for the past 20 years, a technology in which both organizations are perceived as world-leading,” stated Luc Van den hove, president and Chief Executive Officer at imec. “This firm technology base will provide Sentea a kick-start to develop its sensor technology that is answering an existing need in a broad range of market segments.”

To develop its first products and bring them to market, the company raised 1.6 million Euro in funding from a consortium of investors including Fidimec, Finindus, PMV and QBIC II.

About Structural Health Monitoring

Structural Health Monitoring (SHM) is a process in which engineering structures are continuously monitored throughout their lifetime for early signs of damages that over time could lead to catastrophic failure. By detecting any damage early on, and repairing or replacing the damaged part, catastrophic failure and the resulting downtime and huge repair costs can be avoided. A range of SHM solutions, such as fiber optic sensing, have found their way into engineering structures such as wind turbines, nuclear power plants, ships, trains, airplanes, buildings, bridges, dams, tunnels, heavy machinery, blast furnaces and so on.

About fiber optic sensing

Fiber optic sensing is a technology where the sensor itself is a specialty fiber designed such that it can sense pressure and temperature at multiple point along the length of the fiber. An interrogator device then captures the signal of the multiple sensing points in the fiber and interprets the signal into pressure, temperature or other derived parameters (e.g. acceleration or vibration). The inherent advantages of fiber optic sensors such as light weight, small size, passive, low attenuation, immunity to electromagnetic interference, wide bandwidth and environmental ruggedness are heavily used to offset their major disadvantages of high cost of the interrogator. Cost reduction of fiber optic sensor interrogators, together with new trends like IoT, big data and industry 4.0 will boost the utility and demand of fiber optic sensing in SHM and process control even further.

About Silicon Photonics

Silicon photonics allows for major cost savings and a significant increase in capabilities in developing and fabricating optical components. The ability to use standard CMOS manufacturing processes makes silicon photonics commercially very attractive. The sub-micron precision of these standard microelectronic CMOS processes allow for silicon photonics components to integrate a variety of optical functions in a very small chip that consumes far less power than traditional optical components. Decades of experience in making (electronic) chips from silicon as well as the installed base of (silicon) semiconductor manufacturing capacity can be leveraged to build highly integrated low-cost optical components for a variety of applications.

About Sentea

Sentea aspires to be a market leader in advanced fiber optical solutions for structural health and process monitoring. The company was incorporated in 2018 as a spin-off of the Photonics Research Group of Ghent University and imec to commercialize more than a decade of research in silicon photonics and fiber optic sensing. Benefitting from the advantages of silicon photonics, Sentea will develop and market fiber optic sensing interrogators that offer high accuracy, small size and advanced functionality, positioned for deployment in a wide range of applications and markets, hence enabling continuous monitoring of structural integrity to become the standard. Sentea is privately held by a consortium of investors including Fidimec, Finindus, PMV and QBIC II.

Contact: Karsten Verhaegen, CEO, e-mail: karsten.verhaegen@senteatech.com

About imec

Imec is the world-leading research and innovation hub in nanoelectronics and digital technologies. The combination of our widely acclaimed leadership in microchip technology and profound software and ICT expertise is what makes us unique. By leveraging our world-class infrastructure and local and global ecosystem of partners across a multitude of industries, we create groundbreaking innovation in application domains such as healthcare, smart cities and mobility, logistics and manufacturing, energy and education.

As a trusted partner for companies, start-ups and universities we bring together more than 4,000 brilliant minds from over 85 nationalities. Imec is headquartered in Leuven, Belgium and has distributed R&D groups at a number of Flemish universities, in the Netherlands, Taiwan, USA, China, and offices in India and Japan. In 2017, imec's revenue (P&L) totaled 546 million euro. Further information on imec can be found at www.imec-int.com.

Imec is a registered trademark for the activities of IMEC International (a legal entity set up under Belgian law as a "stichting van openbaar nut”), imec Belgium (IMEC vzw supported by the Flemish Government), imec the Netherlands (Stichting IMEC Nederland, part of Holst Centre which is supported by the Dutch Government), imec Taiwan (IMEC Taiwan Co.) and imec China (IMEC Microelectronics (Shanghai) Co. Ltd.) and imec India (Imec India Private Limited), imec Florida (IMEC USA nanoelectronics design center).

Contact: Hanne Degans, Press communications manager, +32 16 28 17 69 // +32 486 06 51 75 // Hanne.Degans@imec.be

About UGent

Ghent University was founded in 1817 and is one of Europe’s leading institutions of higher education and research in the Dutch-speaking region today. It comprises eleven faculties offering education driven by its innovative research in the many scientific disciplines. Located in Flanders, Belgium, the cultural, political, and economic heart of Europe, Ghent University is an active partner in many national and international educational, scientific and industrial collaboration projects.

The Photonics Research Group in the Faculty of Engineering and Architecture is one of Europe’s leading groups in the field of photonic integration and silicon photonics. It is associated with imec and hosts 80 researchers including six ERC-grantees. The Photonics Research Group is part of the Center for Nano and Biophotonics – NB-Photonics – a multidisciplinary research and technology transfer platform clustering the resources and knowhow of 23 professors across four different faculties.