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Thursday, May 23, 2024

Finnish startup receives investment from Normet Group

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Kausala-based startup Lekatech collects funding from Finnish technology company Normet Group offering a continuous improvement to underground construction and mining processes for increased safety, productivity and profitability. Normet becomes a minority shareholder of the startup. Lekatech’s linear electric technology for hammering applications aims to revolutionize different end products in the mining and construction industries. The funding will help the startup accelerate its growth and product commercialization.

The topic of sustainability has moved sharply into focus for all sectors around the world. Faced with the looming climate crisis, awareness of sustainable development has come to the fore and made its way into the underground mining and tunnelling industry. Normet is committed to sustainable development and is leading the transformation into digitalised and sustainable underground mining and tunnelling.

Since 2018, Normet has collaborated with Finnish Lekatech, a startup committed to revolutionizing hammering technologies. Lekatech believes that as the carrier machines transform to electric, direct electric drive is the future in hammering, too. Given the companies’ successful collaboration in electric hammer field tests, Normet has become a minority shareholder in Lekatech. The investment supports the continued growth of Lekatech and the commercialization of their groundbreaking fully electric hammers.

“Our goal is to zero out the CO2 emissions of impact hammers used in the mining and construction industry,” says CEO Antti Anttila at Lekatech.

Lekatech’s ambition supports Normet’s continued progress in mining electrification. The fully electric hammer combined with Normet SmartDrive® battery-electric architecture will shape the future of underground scaling and breaking.

“Lekatech’s technology enables a quantum leap in hammering energy efficiency and impact performance. The hammer being a digital platform enables intelligent control features that just were not possible before”, says Samu Kukkonen Technology Director at Normet.

Lekatech’s groundbreaking fully electric hammer is up to 60% more efficient than a conventional hydraulic hammer providing significant energy savings while doubling impact force. Fully electric hammer enables continuous digital development.

“Cooperation with Normet has been natural from the beginning. Normet really understands how to introduce high technologies to global market. I appreciate Normet’s practical and entrepreneurial culture and solid technical know-how. Normet is committed to being a technology leader in its own area of expertise”, says Tuomo Peltola, founder of Lekatech.

Click to read more funding news.

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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