17 Dic, 2020
SUMTEQ completes comprehensive financing package for realizing the industrial series production
- New equity and debt capital raised in the lower double-digit million range
- Financing package ensures the development of industrial production
- Large-scale technical equipment ordered for production start-up in 2022
Düren, 16th December 2020. SUMTEQ GmbH, a pioneer in the production of polymer nanofoams (“Sumfoam”), secures fresh capital and starts setting up industrial production. The technology start-up has completed the current round of financing with the participation of all existing investors and with the involvement of Deutsche Bank as an external financing partner. In addition, public funds will be provided by the Federal Ministry for the Environment as part of the Environmental Innovation Programme (UIP). Considering this financing mix of equity and debt capital as well as public funding, liquid funds in the lower double-digit million range have been raised.
With the available capital, SUMTEQ will transfer its innovative technology to industrial serial production by 2022 to meet the high demand for product solutions with Sumfoam in the medium term. As a result, the technological lead will be further expanded, and new market segments will be entered.
In this context the operational implementation of the promising project has already been launched. For this purpose, the required plant and production equipment has already been contracted.
|Dr. Alexander Müller|
Phone: + 49 2421 99012-0
Phone: + 49 2421 99012-0
SUMTEQ GmbH is a young high-tech company based in the greater Cologne area, which scales an innovative production process to produce a stable nanoporous foam. The novel process enables polymers to be expanded in a scalable manner for the first time to form an entirely new class of materials called Sumfoam. The unique combination of Sumfoam’s foam properties offers a wide range of applications: from thermal insulation of buildings and in technical applications, to filtration and lightweight construction. Due to its high absorption capacity, the polymer foam can also be used as a highly efficient oil binder, for example in the event of environmental disasters, but also as a carrier material for liquid chemicals. SUMTEQ’s patented, energy- and CO2-saving technology makes Sumfoam to one of the high-performance products and contributes to the sustainable use of valuable resources.