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Effmag Ltd.

Effmag has developed next generation induction heater for aluminum extrusion business, with world record of 75% energy efficiency.

  • Stage Full Product Ready
  • Industry Clean Technology
  • Location Espoo, Finland
  • Currency EUR
  • Founded December 2009
  • Employees 3
  • Website effmag.com

Company Summary

Company targets global aluminum extrusion companies that seek to reduce production costs. Company has developed next generation induction heater where very inefficient AC-coil is replaced by rotating permanent magnets. The innovation essentially halves the heating costs of aluminum billets as Effmag's energy efficiency is over 75% compared with 35-50% of conventional heating methods (AC-coil induction heaters, gas ovens).

Team

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    Jari Puhakka
    CEO

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    Pekka Suominen
    CTO and Founder

    Previously Mr. Suominen worked at CERN (Geneva). Mr. Suominen is one of the most eminent permanent magnet experts in Europe.

Advisors

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    Revico Grant Thornton Ltd.
    Accountant
    Unconfirmed

Previous Investors

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    Newentures Ltd; Aloitusrahasto Vera Ltd.;
    Unconfirmed
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    HK Redstone Technology Investment Ltd.; Markku Oksanen
    Unconfirmed