Finland’s Resand expands Norion Bank loan facility to €25 million to scale foundry sand regeneration and recycling

Resand, a Nuutajärvi-based technology company specialising in the reclamation and recycling of foundry sand, has expanded its loan facility with Norion Bank. The €14.5 million equipment financing facility, agreed in November 2025, has been increased to €25 million.

The company plans to use the additional financing to fund new customer agreements, enabling Resand to invest in new sand reclamation machinery and scale its operations to meet growing demand. The company states that this demand is driven by foundries under increasing pressure to meet sustainability targets, improve cost efficiency, and secure their sand supply.

Mikko Immonen, CEO of Resand, “Expanding our facility with Norion Bank is a clear sign that our business is growing as planned. Early 2026 has been particularly strong, as we signed new Sand as a Service agreements with both AGVS Aluminium Werke GmbH in Germany and Termit, a leading silica sand producer in Slovenia, in February, further strengthening our presence in the DACH market and Central Europe.

“The additional financing gives us an excellent foundation to continue our internationalisation and expansion into new markets in line with our strategy. Norion Bank has proven to be an outstanding partner with an understanding of both our business and its sustainability impact.”

Resand began its journey in 2013 as Finn Recycling. In 2023, the company rebranded to Resand, aiming to increase the number of sand regeneration units in the foundry market and to expand its business internationally.

The company specialises in environmentally friendly foundry sand regeneration and recycling. Resand warns that the sand suitable for industrial use is running out. The extraction of virgin sand and the associated loss of biodiversity can be reduced by cleaning and reusing sand.

Through its Sand as a Service (SaaS) model, it claims to transform waste sand into a valuable resource without requiring large investments or maintenance. The company’s Resand® solution enables foundry sand to be recycled at near-100% efficiency.

The company states that it builds the modular sand reclaimer directly at the foundry and takes care of training, support, and maintenance, allowing foundries to focus on casting production. It also points out that its solution cuts CO₂ emissions from sand use and transport by up to 80%.

Founded in 1999, Norion Bank Group (formerly Collector Bank) is a Nordic banking group specialising in financing solutions. It offers “tailored” financing solutions to established mid-sized companies, typically in the €3–30 million range, as well as to growth and international businesses. It has offices in Gothenburg, Stockholm, Helsingborg, Oslo and Helsinki. Operations are conducted through Norion Bank AB (publ), which is listed on Nasdaq Stockholm. “Resand’s growth is progressing with determination, and expanding the facility is a natural next step in our long-term partnership, where we support company as it expands its international footprint. Over time, we have built a strong understanding of Resand’s business model, investment cycle and growth drivers, which allows us to support them in a scalable and predictable way. Resand combines solid commercial fundamentals with measurable environmental impact,” said Karl-Mikael (Miku) Holmbäck of Norion Bank.