Tribonex AB (Tribonex), the industry lead in innovative surface treatment technologies for friction and wear reduction, announced the successful addition of an equity partner, EIT InnoEnergy, a major investor in the sustainable energy innovations arena, with a significant participation also from First Venture Sweden AB, the main shareholder in Tribonex.
The fresh capital injection comes at a strategic moment for Tribonex, which has moved from process development to full scale industrialization and implementation of its novel Triboconditioning surface treatment for various industrial and automotive applications. In this next growth phase, Tribonex targets to expand the production capacity both in-house and through production and developmental partners and to solidify the solution for gears used in electric (EV) and hybrid vehicle applications as well as various industrial components including gears, bearings, hydraulic motors, pumps, compressors, and machine tooling.
Tribonex offers cost-efficient surface treatments of mechanical parts, for minimized friction and wear, based on a unique and patented mechano-chemical technology. It helps customers within the automotive and industrial sector to become more sustainable by improving product performance through minimized energy consumption and increased product life. Tribonex’s customer base spans from electric vehicle producers to industrial machine and system manufacturers within hydraulics, motors, pumps, generators, rock-drills, tooling and many more areas where combating friction and wear are of high importance.
“Partnering with strategic investors in the sustainable energy sector such as First Venture Sweden AB and InnoEnergy not only provides us with the resources to drive forward and establish our solutions in the market, but also reaffirms the significance and potential of our work in the industry. We see great opportunities in the transition that the automotive and other industries are currently undergoing in the strive for more efficient solutions with minimized energy consumption and material waste. Thus, we are delighted that we are getting to a position where we can make a real difference through direct supply of our novel surface treatments”, said Christian Kolar, Tribonex co-founder and CEO.”
“We have, during several years followed the progress by the Tribonex team and we are highly impressed by the accelerating market traction driven by their recent achievements in improving the technology to be even more scalable and suitable also for components with complex geometries, such as gears. Friction and wear are universal problems in many industries and represent a huge potential to cut carbon emissions. Closing part of the remaining gap to 100% drive train efficiency in EV´s and decreasing both losses and failure rates in wind power turbines are only a few examples where we see Tribonex can make a difference”, said Markus Berglund, Investment Manager at InnoEnergy in Stockholm.
“We are delighted to welcome InnoEnergy as a new investor in Tribonex,” said Rune Nordlander, acting CEO of First Venture Sweden AB. “Innovation and sustainability are cornerstones in our investment strategy, a perfect match with Tribonex that has during the last year taken strong steps forward to become a market leader in sustainable surface treatments. Together with InnoEnergy, we are keen to actively support and guide Tribonex on its promising journey ahead.”
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