Resand Secures $27M Loan to Scale Foundry Sand Recycling

Jan de Vries · 2026-06-05

Resand, a Finnish technology company based in Nuutajärvi, is making big moves in the world of industrial recycling. They've just expanded their loan facility with Norion Bank from roughly $15.8 million (originally €14.5 million in November 2025) to about $27.2 million (€25 million). This cash injection is all about scaling up their foundry sand regeneration and recycling operations. ### Why This Matters for Foundries Foundries are under the gun these days. They're facing pressure to hit sustainability targets, cut costs, and secure their supply of sand—a resource that's surprisingly running out. Resand's technology tackles all three problems at once. By cleaning and reusing sand, they help foundries reduce their reliance on virgin sand, which is both expensive and environmentally damaging to extract. Mikko Immonen, Resand's CEO, puts it plainly: "Expanding our facility with Norion Bank is a clear sign that our business is growing as planned." He points to early 2026 as a particularly strong period, with new Sand as a Service agreements signed with AGVS Aluminium Werke GmbH in Germany and Termit, a leading silica sand producer in Slovenia. These deals strengthen Resand's footprint in the DACH market and Central Europe. ### How Their Sand as a Service Model Works Here's the clever part: Resand doesn't just sell machines. They offer a Sand as a Service (SaaS) model. They build a modular sand reclaimer right at the foundry, handle all the training, support, and maintenance, and let foundries focus on what they do best—casting production. The company claims their solution recycles foundry sand at near-100% efficiency and cuts CO₂ emissions from sand use and transport by up to 80%. It's a win-win. Foundries get consistent, high-quality sand without the upfront capital investment, and Resand gets a recurring revenue stream. The company started back in 2013 as Finn Recycling and rebranded to Resand in 2023 to push their technology globally. ### Norion Bank's Role in This Growth Story Norion Bank isn't new to this game. Founded in 1999 (originally as Collector Bank), it's a Nordic banking group that specializes in financing for mid-sized companies. They typically work with loans in the $3.3 million to $32.7 million range (€3–30 million), and they've clearly built a strong relationship with Resand. Karl-Mikael (Miku) Holmbäck from Norion Bank explains: "Resand's growth is progressing with determination, and expanding the facility is a natural next step in our long-term partnership." He adds that they've developed a deep understanding of Resand's business model, investment cycle, and growth drivers, allowing them to support the company in a scalable and predictable way. ### The Bigger Picture: Sand Scarcity Resand warns that the sand suitable for industrial use is running out. That's not just a niche concern—it affects everything from construction to manufacturing. By cleaning and reusing sand, they're helping reduce the extraction of virgin sand and the associated loss of biodiversity. It's a tangible solution to a problem most people don't even know exists. With this new financing, Resand is well-positioned to expand into new markets and sign more customer agreements. The company's internationalization strategy is clearly on track, and Norion Bank's backing gives them the foundation to keep growing. ### Key Takeaways - **Funding**: Resand expanded its loan facility from $15.8 million to $27.2 million. - **Technology**: Their solution recycles foundry sand at near-100% efficiency and cuts CO₂ emissions by up to 80%. - **Business Model**: Sand as a Service (SaaS) means foundries don't need large upfront investments. - **Growth**: New agreements in Germany and Slovenia strengthen their European presence. - **Partnership**: Norion Bank provides tailored financing for mid-sized companies. Resand's story is a great example of how smart technology and strategic financing can tackle real-world environmental challenges while building a sustainable business.