Resand Secures $27.3M Loan for Sand Recycling Growth

Jan de Vries · 2026-06-05

Resand, a Finnish tech company based in Nuutajärvi, has expanded its loan agreement with Norion Bank from $15.8 million (originally set in November 2025) to $27.3 million. This move is all about scaling up their foundry sand reclamation and recycling operations. ### What's the Money For? The extra funds will help Resand lock in new customer deals and buy more sand reclamation machinery. They're ramping up because foundries are feeling the heat to hit sustainability goals, cut costs, and keep their sand supply steady. It's a smart play—demand for eco-friendly sand solutions is climbing fast.  ### CEO Weighs In Mikko Immonen, Resand's CEO, says, "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 adds, "The additional financing gives us an excellent foundation to continue our internationalisation and expansion into new markets. Norion Bank has been an outstanding partner, understanding both our business and its sustainability impact." ### The Backstory Resand started in 2013 as Finn Recycling and rebranded in 2023 to push more sand regeneration units globally. They focus on cleaning and reusing foundry sand, which is running out for industrial use. By recycling, they cut down on extracting virgin sand and help protect biodiversity. ### How Their Model Works Resand uses a Sand as a Service (SaaS) model. They build a modular sand reclaimer right at the foundry, handle all training, support, and maintenance, so foundries can just focus on casting. Their system recycles sand at nearly 100% efficiency and slashes CO2 emissions from sand use and transport by up to 80%. ### Norion Bank's Role Norion Bank, founded in 1999 as Collector Bank, is a Nordic lender that offers tailored financing for mid-sized companies (typically $3.3 million to $33 million). They've got offices in Gothenburg, Stockholm, Helsingborg, Oslo, and Helsinki, and are listed on Nasdaq Stockholm. Karl-Mikael (Miku) Holmbäck from Norion Bank comments, "Resand's growth is progressing with determination, and expanding the facility is a natural next step in our long-term partnership. We've built a strong understanding of their business model, investment cycle, and growth drivers, allowing us to support them in a scalable way. Resand combines solid commercial fundamentals with measurable environmental impact." ### Why This Matters - **Sustainability Push**: Foundries are under pressure to go green, and Resand's tech helps them do that without big upfront costs. - **Resource Scarcity**: Industrial sand is a finite resource, so recycling is becoming critical. - **Scalable Growth**: The loan lets Resand expand into new markets, especially in Central Europe and the DACH region. This isn't just a loan—it's a bet on a cleaner future for manufacturing. With strong customer agreements and a proven model, Resand is poised to make a real dent in the sand recycling space.