Foamit Group is doubling the production capacity in Norway
Foamit Group is doubling the production capacity of its Onsøy facility in Norway to meet growing demand in the Nordic infrastructure and construction markets. The production will be nearly emission-free. The investment was made possible by a follow-on financing round, in which Tesi also participated as a minority owner. Foamit, which already operated in Finland before internationalising, manufactures foam glass aggregate as well as glass chip, powder, and sand for industrial purposes.
Tesi first invested in Foamit Group in 2018. Both the initial as well as the now announced follow-on investment were made from Tesi’s circular economy program. The program promotes the growth and internationalization of startups and growth companies operating in the circular economy, as well as the emergence of venture capital funds investing in the sector.
Additional information:
Mikael Niemi, Investment Director, Growth & Industrial Investments
mikael.niemi@tesi.fi
+358 50 597 7303
Tesi (officially Finnish Industry Investment Ltd) is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies. tesi.fi | X (Twitter) | LinkedIn | Instagram | Bluesky | Threads | Newsletter
