Oulu-based CleanTech company Filtrabit has secured a €2 million funding commitment from Ajanta Innovations 2 Ky for its coming financing round.
The Finnish startup plans to use the capital to expand the deployment of its modular dust extraction technology into new markets outside Finland, primarily, but not exclusively, in the Nordics, Central Europe, and India.
Dr Kim Fagerlund, CEO of Filtrabit, said, “The increasing demand for better dust control is driven not only by environmental regulations but also by operational and economic benefits achieved by implementing the most modern raw material collection and recycling methods available.
“Our technology has now been proven in practice in several applications in Finland and is ready to be implemented in operations globally.
“We are grateful for the trust of our shareholders and are ready to take the next steps on our expansion and growth path. This commitment plays a key role in our next round and enables us to efficiently execute our strategy road map as planned more than a year ago.”
Established in 2011, Filtrabit manufactures industrial-scale dust extraction systems with a focus on solving the dust control problems of industry and improving air quality inside and outside industrial plants.
According to the company, its solution extracts microparticles from industrial dust-laden gas streams, which helps reduce air pollutants from industrial sources and accelerate emissions reductions through the reuse of recovered raw materials.
Filtrabit offers dust separation units on an operating lease model. It also helps its clients design the necessary hooding and ducting, with the support of its partners.
According to the company’s website, the modular units are serially manufactured and portable, enabling capacity to be tailored and retrofitted without requiring building permits. The company states that installation can be completed in a single day when the necessary ducting is in place. The device can also be equipped with numerous sensors as per the customer’s specific data needs. Its customers include steel mills, foundries, quarries, as well as mining and ore processing operations.
In May this year, Filtrabit raised €2 million in financing for continued growth. In June, Business Finland awarded it a €600k grant to support product development. In 2024, the company secured €4 million in lease financing facilities from the Finnish Climate Fund and a €5 million loan from Norion Bank.
