7.12.2022
Weeefiner, a start-up company focusing on material circulation, has received significant growth funding from Midinvest Ltd. The new capital investment strengthens the growth and business development of the circular economy company from Jyväskylä, Finland.
The green transition and securing of raw material chains increase the pressure for more efficient utilization of materials and the promotion of a circular economy. Weeefiner Oy offers industrial operators solutions for recovery of dissolved metals and nutrients. With the help of 4D Scavenger technology developed by Weeefiner, valuable raw materials can be recovered from process streams and wastewater for reuse.
"Traditional water treatment focuses only on producing clean water, in which case the resources contained in the water are lost. With our technology, the raw materials can be returned to the beginning of the process or they can be forwarded to operator that needs them. This reduces both the need for virgin raw materials and the amount of liquid waste," says Weeefiner CEO Mikko Hänninen.
Weeefiner also operates in the environmental interface, as the technology can prevent harmful elements, such as heavy metals, from ending up in nature. In recognition of this, Weeefiner was awarded the 2022 Save the Baltic Sea award.
Midinvest, which invests in small and medium-sized central Finnish companies, sees enormous growth potential in Weeefiner.
"Weeefiner's technological know-how and great business potential have made a great impression on us. We are happy to accelerate the Jyväskylä-based company's progress towards international growth in this industry, which is also important for our future," says Jukka-Pekka Nikula from Midinvest.
With the help of Midinvest's capital investment, Weeefiner plans to expand its business and scale up production equipment. At the same time, we invest in sales and product development, with internationalization in mind.
"Most people do not understand what kind of water masses are created in industry, and how much elements that do not belong in these waters end up in them. Our vision is that these liquid side streams will be seen as an important source of raw materials in the future," comments Hänninen.
CEO Mikko Hänninen, Weeefiner Oy, +358 40 7053973
Jukka-Pekka Nikula, Midinvest Management Oy, +358 50 5399378
WEEEFINER OY is a technological pioneer that offers solutions for the utilization of industrial liquid side streams. The startup was founded based on the bold innovation of the University of Jyväskylä in 2017 and has since expanded into a 9-person company. Operational activities started in 2021. www.weeefiner.fi
MIDINVEST OY is a capital fund managed by Midinvest Management Oy. The fund was founded in 1994, and during its history it has invested more than 20 million euros in more than 70 companies in the early and later stages of development in Central Finland. www.midinvest.fi
More on the subject in the media: ksml.fi (in Finnish)
