Altum Technologies has developed a revolutionary ultrasonic system for cleaning industrial equipment and pipes. As the solution was about to be commercialised, the company took part in the 2016 Cleantech Venture Day. In just a day, several doors were opened to new clients, partnerships and sources of funding.
Altum Technologies was founded in 2016 by Matias Tainela and Bo Malmberg, who have just presented their new ultrasonic cleaning solution their launch event. All 13 employees from the company were present at the launch and clearly proud when talking about the new technology. This makes perfect sense. In cooperation with the University of Helsinki, Altum Technologies has managed to develop and commercialise a high-power localisable ultrasonic system for cleaning without stopping production – a world first.
The solution uses a combination of an advanced data system and sensors to clean industrial equipment and pipes and other applications which have liquid inside them without idle time and dangerous chemicals.
“Thanks to the solution, it is possible to modify sound in a way that takes the needs of customers into account very accurately and efficiently. In practice, we can utilise multifaceted sonic technology based on research at the University of Helsinki, ongoing for over 30 years, for improving cleaning. The sound may sound the same, but at its heart, it can be completely different,” the CEO and founder of Altum Technologies, Matias Tainela, says when explaining the revolutionary technology.
Aiming for international markets and growth
Altum Technologies took part in the Cleantech Venture Day for the first time in 2016 when the company was still at the product development stage. Tainela considers the day a success in several ways.
“This was our first time participating and the timing was perfect,” Tainela says. “The day started with speed dating meetings, of which we had eight altogether. Out of these, four chemical and paper industry companies were very interested in our technology. These have all resulted in further discussion and some of them have already lead to deliveries to customers.”
One important reason for taking part in the event was the need to find a private equity investor for the next funding cycle. An important funding cycle for Altum Technologies was initiated at the Cleantech Venture Day.
“In the initial stages, we received assistance for product development from the government funding agency Tekes, among others. However, the project for the next stage needed self-financing, and we needed funding from equity investors as well,” Tainela says. “We presented our pitch at the event and it interested the equity investor Lifeline Ventures and Tekes, among others. Cleantech Venture Day can be considered as the starting point for a seed funding cycle of over a million euros, which did include Tekes and Lifeline Ventures.”
“Our presentation also lead to two new client meetings for the same day, one of which has resulted in a rather interesting pilot project. In practice, the rest of the day was then spent in one-on-one meetings, so the day was very busy and useful for future business development.”
Tainela thinks that the time is right for bringing technology to and marketing it in the international markets. The world is full of industrial equipment that needs constant cleaning. People are looking for cost-effective solutions.
“We know that there is a significant market out there for our solution. We cannot rely on technology alone. We need a robust sales and marketing network, and that is what we are focusing on next,” Tainela states. “In the short term, our important market areas will be Europe, the Middle-East and North America, which we have finalised plans for and which we are working towards. In addition, we are looking into the South African and South American markets.”
“Altum Technologies is also interested in participating in the next Cleantech Venture Day, held in London for the first time on 30 and 31 October 2017. This is a quality event and it meets our needs very well. It gives us exposure, we are able to meet with potential clients and investors and we receive information about the latest trends in the cleantech industry. I would certainly recommend this event to growing businesses.”
By Anu Pousi on in Cleantech Venture Day