Mantex AB, a Kista, Sweden-based green technology company, recently received over SEK20m in financing.
Investors include the Swedish Energy Agency, Energimyndigheten (which committed SEK9.5m), STING Capital (SEK4.6m), RWE (SEK3.7m), and the company’s employees and founders.
As stated by Erik Odén, CEO of Mantex, the funding will be used to continue expansion in Europe and North America.
Mantex has developed a patented photon absorption technology to provide multi purpose biomaterial scanners for use in both laboratory and operational control in processing industries including bio power, bio fuel, paper and pulp, saw mills and recycling centers. Through the analysis results provided by the scanners, users can improve biomaterial and machine utilization and reduce emissions.