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 PuhakkaCEO
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Pekka SuominenCTO 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.AccountantUnconfirmed
Previous Investors
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Newentures Ltd; Aloitusrahasto Vera Ltd.;UnconfirmedHK Redstone Technology Investment Ltd.; Markku OksanenUnconfirmed
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