Fouriertransform AB (FTAB) is investing a total of SEK 50 million in EELCEE AB through a directed new share issue and a loan promise. The company is a spin-off of Ecole Polytechnique Fédérale de Lausanne (EPFL) that plans to develop, manufacture and market large volumes of composite components, primarily for the automotive industry.
FTAB is investing through a directed new share issue in the Swedish parent company EELCEE AB. The issue will make it the largest individual owner together with company founder Professor Jan-Anders Månson. Månson has conducted research and development of composite materials for EPFL since 1990 with a focus on making high-volume manufacturing possible in, for example, the automotive industry.
“Composite materials represent an important area in the automotive industry in efforts to reduce weight, which is essential for the long-term reduction of emission levels. EELCEE possesses a unique patented technology and we are delighted to be able to attract this competence to Sweden,” says Per Nordberg, CEO of Fouriertransform.
EELCEE AB, which has a subsidiary adjacent to EPFL in Lausanne, has been developing composite applications since 2008 for such things as seats and bumpers for vehicle manufacturers and suppliers in the global market. The company has now secured its first production contracts.
“In a short period of time, EELCEE has built up a considerable base of discerning automotive customers. Fouriertransform’s investment will enable us to meet our customers’ expectations with respect to development projects, and to build up the prototype and production capacity in Sweden that our customers demand,” says Professor Jan-Anders Månson, founder and principal owner of EELCEE.
For more information:
Jan-Anders Månson, founder and principal owner of EELCEE AB, tel. +41 79 257 2684
Christian Zeuchner, Investment Director at Fouriertransform AB, tel. +46 8 410 40 604
Ecole Polytechnique Fédérale de Lausanne (EPFL) is a leading university of technology with a long history of spinning off companies. www.epfl.ch
Fouriertransform is a state-owned venture capital company that provides support on a commercial basis to innovative companies and entrepreneurs that have the ability to help vitalize the Swedish automotive industry. The company has a total investment framework of SEK 3 billion and, in addition to providing capital, its well-qualified employees and network of experts contribute their own expertise. www.fouriertransform.se
Last updated
2011-12-23