Commercial Heat Treater Receives MultiMillion Euro Investment
Expanite, the Danish pioneer and growth company within hardening and heat treatment of stainless steel and titanium, receives its largest capital increase to date. Approximately 12 years after the company was created out of a research project at the Technical University of Denmark, having built a solid business in Europe and having established a strong foothold in the US and Asia, the company will further expand its activities in the US as well as strengthen its presence and offerings in Europe and Asia.
The technology of the company is based on a series of patented processes for high performance, gas phase based hardening/heat treatment of stainless steel and titanium with a reduced environmental impact. Expanite offers a fully digitalized approach to surface hardening, production management and quality control, with a business model that involves a chain of its own service centers as well as technology licensees.
In addition to being able to deliver services that significantly extend the life of components – offering sustainability in its purest form – Expanite’s way to achieve the extended lifetime of materials is the green alternative to environmentally challenged processes such as hard chrome plating and standard stainless steel hardening involving aggressive chemicals and long process times with associated high energy consumption. Expanite’s patented solutions are gas-based, shortening processing time, reducing the overall energy consumption, and eliminating the need for harsh chemical cleaning before/after processing.
Expanite’s CEO Thomas Abel Sandholdt adds: “We are very proud and humble by the sign of confidence that lies behind the biggest strengthening of Expanite’s capital to date. At times when the clouds over the world economy are darker than seen in a long time, Lauritzen Fonden and Finindus have shown that they believe in Expanite’s potential and support an accelerated growth. With this capital increase, we can realize a very ambitious growth plan that involves geographical and product expansions.”