SurfCleaner raises €4.8 million to accelerate global expansion
SurfCleaner has closed a private funding round and raised €4.8 million to accelerate its global expansion.
SurfCleaner, the Swedish company behind the world’s first combined skimmer and separator for water treatment, has closed a private funding round and raised €4.8 million to accelerate its global expansion.
Water for more than six billion people is contaminated today. Only 20 percent of the world’s polluted drinking water is treated and the UN aims to increase that to 60 percent by 2030.
The Swedish company SurfCleaner developed the world’s first hybrid skimmer separator. The groundbreaking new technology removes, separates and recovers oil, petrol, diesel, sludge, microplastics, debris and other pollutants from the water surface.
SurfCleaner raised €4.8 million in a private funding round in April 2021, which increased the company’s value to €24.5 million. The funds will be used for sales, marketing and further expansion, both in the Nordic Region and globally. SurfCleaner will also develop additional applications for both industrial and municipal wastewater treatment.
Investment from well-renowned entrepreneurs
The new shareholders include Walter & Johanna AB, owned by Marcus and Karin Bodin, the CEO and principal shareholder of Polarbröd.
“SurfCleaner will solve fundamental problems for people all over the world. Everybody needs clean water every day, and SurfCleaner’s products are amazingly effective in separating floating contaminants from water. We invest because believe that SurfCleaner will be a global success and make a difference for both people and the environment,” says Marcus Bodin.
Mattias Jonsson, formerly of Renewcell, and David Schelin, Euromaint, formerly Ragn-Sells and Renewcell, have also invested.
“The capital injection sets SurfCleaner on course to become one of the world’s leading cleantech companies. Their products will help solve some of the greatest challenges facing the planet – the shortage of clean water and greenhouse gas emissions – and I’m proud to be part of this. The company is in pole position, the market potential is huge and the customer base and the number of installations increase all over the world. The technology is as simple as it is effective, and helps customers to clean their water, minimize carbon emissions and improve water quality,” says David Schelin.
Other investors include Göran Näsholm, Gunnar Haglund, formerly of Ahlsell, and PC Rettig & Co Impact.
Perfect timing for carbon-neutral production
“We have strong support from current shareholders and a number of new investors who will add to our progress. It’s also extremely gratifying that all our employees have invested. The timing of our new products is perfect – now we can participate in the industry’s switch to carbon-neutral production, and help solve major environmental problems. The capital injection makes it possible for us to expand globally,” says Mikael Andersson, CEO of SurfCleaner.
Christina Lundbäck and her family, with approximately 35 percent of the shares, remain the largest shareholders. SurfCleaner plans for an IPO in two to five years.
“We are grateful to our current shareholders for their continued support, and are pleased to welcome the new investors. These well-renowned entrepreneurs have previously developed successful companies and strengthen our ownership structure. We’ll make the journey towards a more sustainable world with clean water in parallel with our journey to the stock exchange,” says Christina Lundbäck, Founder and Chairman of SurfCleaner.
Financial and legal advisers
Evli Bank was the financial adviser, and Foyen the legal adviser for SurfCleaner during the private funding round.