Resand Secures $27.6M Loan to Scale Sand Recycling

Jan de Vries · 2026-06-05

Resand, a Nuutajärvi-based tech company that specializes in reclaiming and recycling foundry sand, just expanded its loan facility with Norion Bank. The original equipment financing deal, signed in November 2025 for $15.8 million (€14.5 million), has now jumped to $27.6 million (€25 million). That's a serious vote of confidence in what they're doing. ### Why the extra cash? The company plans to use this new funding to fuel customer agreements and invest in more sand reclamation machinery. They're scaling up fast because foundries are feeling the heat. Sustainability targets are tightening, cost efficiency is a must, and securing a steady sand supply is getting tougher by the day. Mikko Immonen, Resand's CEO, put it this way: "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." That move strengthens their footprint in the DACH region 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 Resand started back in 2013 as Finn Recycling. By 2023, they rebranded to Resand with a clear mission: ramp up the number of sand regeneration units in foundries and go global. The core idea? Sand that's good for industrial use is running out. Virgin sand extraction hurts biodiversity, but cleaning and reusing sand can cut that damage. Here's how their Sand as a Service (SaaS) model works: - They build a modular sand reclaimer right at the foundry. - They handle all training, support, and maintenance. - Foundries just focus on casting production. - Their solution recycles sand at near-100% efficiency. - It slashes CO₂ emissions from sand use and transport by up to 80%.  ### The Norion Bank partnership Norion Bank Group, founded in 1999 (formerly Collector Bank), is a Nordic specialist in financing solutions. They focus on mid-sized companies, typically in the $3.3 million to $32.7 million range (€3–30 million), plus growth and international businesses. With offices in Gothenburg, Stockholm, Helsingborg, Oslo, and Helsinki, they're listed on Nasdaq Stockholm. Karl-Mikael (Miku) Holmbäck of Norion Bank said: "Resand's growth is progressing with determination, and expanding the facility is a natural next step in our long-term partnership. 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 financial milestone for Resand. It's a signal that sustainable industrial practices are becoming real business drivers. Foundries are under pressure, but they're also finding smarter ways to operate. With partners like Norion Bank backing them, Resand is proving that green tech can scale—and that's good news for everyone.