EIT RawMaterials-supported ALINA raises EUR 550 000
Innovative clay additive manufacturer ALINA has raised a EUR 550 000 investment from a business angel syndicate, led by Jerry Wirth and David DeRousse.
The investment will fund the development of a demo plant with a production capacity of up to 40 tons per year, as well to accelerate ALINA product sales, that includes research and development work with potential clients. Demo production is a particularly important milestone for ALINA business because a fully tested production plant in Latvia opens the possibility to outsource manufacturing via partners in Europe.
Jerry Wirth, lead angel investor:
'We are as impressed with the co-founders’ talents and dedication as we are with the innovative approach to they are taking to enter the paint additive industry. The accolades they are receiving from industry bodies and the keen interest shown by prominent manufacturers reinforces our core belief that SIA Alina is a winning team – a team we are pleased to guide and support.'
Solvita Kostjukova, Co-founder and CEO:
'This seed investment will help our company ramp up production so that we can enter the European market and create the strategic partnerships that are critical for scaling in Europe. We also believe that our angel investors’ diverse industry experience and guidance will benefit us in ways we cannot yet imagine.'
In 2017 the ALINA team has been productive. ALINA received a positive result from a patent search and freedom-to-operate assessment. The ALINA team accelerated go-to-market activities, achieving cooperation agreements and joint product testing with 10 major paint manufacturers in Europe. In addition, ALINA was nominated for the EIT Innovation Awards, which is an innovation assessment on a global scale. ALINA has also received significant support and funding from the Smart Material and Technology Competence Centre to finance product research and development in 2018.
'In 2018, we will focus on new client acquisition, which requires product certification and detailed testing. The team has made real progress in the leading European markets of Germany and Denmark, which we will strive to convert into sales agreements in 2018. In order to facilitate further product sales, we will strengthen partnerships with industry leading research organisations in Europe and evolve our cooperation with the Latvian University, which has already produced substantial support for product development and fundamental research. We believe these partnerships are critical for establishing credibility and accelerating our market entry.'
ALINA produces state-of-the-art clay mineral materials by challenging how things are made. By putting people’s health first, we take responsibility for people and the environment they live in. ALINA uses innovative production technology to manufacture clay mineral materials, available for building product manufacturers as a substitute for toxic chemicals and heavy metals.
ALINA LIFE is an innovative and environmentally-friendly clay mineral material that prolongs the life and improves the appearance of eco & natural building products.
Learn more about ALINA on the official website.
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