Resand Secures $26.9M to Scale Foundry Sand Recycling

Jan de Vries · 2026-06-05

Resand, a Nuutajärvi-based tech company focused on reclaiming and recycling foundry sand, just expanded its loan facility with Norion Bank. The original equipment financing deal, worth about $15.6 million back in November 2025, has now jumped to roughly $26.9 million. ### Why the Extra Cash Matters The company plans to use this new funding to fuel customer growth. Specifically, it'll invest in more sand reclamation machines and ramp up operations to keep up with rising demand. And that demand is no accident—foundries are feeling the heat to hit sustainability goals, cut costs, and lock down their sand supply. Mikko Immonen, Resand's CEO, put it simply: "Expanding our facility with Norion Bank is a clear sign that our business is growing as planned. Early 2026 has been particularly strong, as we signed new Sand as a Service agreements with both AGVS Aluminium Werke GmbH in Germany and Termit, a leading silica sand producer in Slovenia, in February, further strengthening our presence in the DACH market and Central Europe." He added: "The additional financing gives us an excellent foundation to continue our internationalisation and expansion into new markets in line with our strategy. Norion Bank has proven to be an outstanding partner with an understanding of both our business and its sustainability impact."  ### From Finn Recycling to Resand: A Quick Backstory Resand started out in 2013 under the name Finn Recycling. But in 2023, they rebranded to Resand with a bigger vision: place more sand regeneration units in foundries worldwide and expand internationally. Their specialty? Environmentally friendly sand recycling. And they're not shy about the urgency—industrial-grade sand is running out, they warn. By cleaning and reusing sand, we can cut down on mining virgin sand and the biodiversity loss that comes with it. ### How Their Sand as a Service Model Works Here's the clever part: Resand uses a "Sand as a Service" (SaaS) model. Instead of selling machines, they offer a service that turns waste sand into a valuable resource—without requiring big upfront investments or ongoing maintenance from the foundry. Their Resand solution recycles foundry sand at near-100% efficiency. - They build a modular sand reclaimer right at the foundry site. - They handle all training, support, and maintenance. - Foundries can focus on what they do best: casting production. - The system cuts CO2 emissions from sand use and transport by up to 80%. ### Norion Bank: The Partner Behind the Growth Norion Bank Group (formerly Collector Bank) is a Nordic banking outfit that's been around since 1999. They specialize in tailored financing for mid-sized companies—typically deals in the $3.2 million to $32.2 million range—as well as growth and international businesses. With offices in Gothenburg, Stockholm, Helsingborg, Oslo, and Helsinki, they're well-positioned to support companies like Resand. Norion Bank AB (publ) is listed on Nasdaq Stockholm. Karl-Mikael (Miku) Holmbäck of Norion Bank explained: "Resand's growth is progressing with determination, and expanding the facility is a natural next step in our long-term partnership, where we support the company as it expands its international footprint. Over time, we have built a strong understanding of Resand's business model, investment cycle and growth drivers, which allows us to support them in a scalable and predictable way. Resand combines solid commercial fundamentals with measurable environmental impact." ### What This Means for the Industry This isn't just a funding story—it's a sign of where the foundry industry is headed. As sustainability pressures mount, technologies like Resand's are becoming essential. And with a proven model and strong backing, Resand looks set to lead the charge in making sand recycling the norm, not the exception.