Tracegrow announces a direct share issue – more resources for exporting its cleantech innovation globally

Tracegrow has launched a direct share issue today with a goal to support the growth and internationalization of the company’s business operations. The size of the funding round is EUR 2.5–5.0 million and the ownership of new shareholders will be 11.1-20.0 per cent of the total shares. The subscription price per share is EUR 7.19. Tracegrow has implemented the share issue on the AROUND crowdfunding platform, which is managed by Privanet Securities Oy Ltd.

Tracegrow, founded in 2012, is a Finnish cleantech company operating in the circular economy. It is the only company in the world that has developed an innovative technology to extract, purify and reuse the vital trace elements zinc and manganese from alkaline batteries and circulate them safely back to nature as the world’s most ecological zinc and manganese-based micronutrient products for farming. Tracegrow's global business operations are two-fold. It delivers premium-level liquid foliar fertilizers to fertilizer resellers and production plants based on its groundbreaking technology to recycling companies and fertilizer manufacturers and distributors.

“We have a unique innovation, which is a product of Finnish engineering, in our hands. It is a technology that solves for its part the biggest ecological challenges of mankind. Our goal is to become the most acknowledged micronutrient company in the global circular economy. Tracegrow is a growth company with a goal to reach an annual turnover of EUR 100 million over the next few years. The share issue provides us with more resources for growth and internationalization of our business,” says Tatu Leppänen, CEO of Tracegrow Ltd.

Tracegrow is currently both building a global network of resellers for its micronutrient products and selling the production plant technology directly to end customers. In the summer, Tracegrow signed a reseller agreement with Berner Ltd for Finland and selected Pöyry as its partner for delivering project and engineering services for its technology globally.

“We operate in the global micronutrient market. With an annual growth of 8 per cent, the market is estimated to exceed USD 8.5 billion by 2023. More than 10 billion alkaline batteries are used in the world every year. Governments and recycling companies are frantically looking for solutions for efficient and ecological recycling of alkaline batteries,” says Leppänen.

Tracegrow’s first production plant is located in Kärsämäki, Finland. It started production of micronutrient products in June 2018. Both the production plant and Tracegrow’s products have received the approvals required from fertilizer manufactures from the Finnish and European Union authorities. The micronutrient product has also received approval to be used for organic production in Finland. Tracegrow is a member of the Cleantech Finland network and was nominated as a candidate for the Nordic Council Environment Prize in 2017.

Megatrends behind Tracegrow’s business

Tracegrow’s operation is built on global megatrends and ecological challenges such as population overgrowth, soil depletion, famine, over-exploitation of natural resources, eutrophication and the growing waste problem. Tracegrow’s clean technology provides a solution to two global challenges: the ecological reuse of the trace elements in alkaline batteries and nourishing farmland suffering from micronutrient deficiency and thus increasing global food production.

Arable land is becoming depleted everywhere and therefore produces lower yields. This has a negative impact on global food production. Land everywhere needs more trace elements such as zinc and manganese for balanced growth and healthy food production. According to the World Health Organization (WHO), 800 000 people, of which 450 000 are children, die of zinc deficiency annually. The principle of alkaline batteries is based on the reaction between zinc and manganese. Non-recycled alkaline batteries contaminate the soil and cause eutrophication.

“The global need to find solutions for sustainable development has created a significant new economy, which is growing fast. Sustainable farming is a clear sign of the development as is the governments’ growing awareness of the environmental hazards of alkaline battery waste,” says Leppänen.

Tracegrow’s ownership

Tracegrow had a total of eight shareholders on 26.9.2018. The major shareholders are Huhtala Group Ltd (75,65 % of the total shares) and Privanet Group Plc (10 % of the total shares). The remaining 15 per cent of shares are owned by Tracegrow’s top management and personnel.

Tracegrow has implemented the share issue on the AROUND crowdfunding service, managed by Privanet Securities Oy Ltd: www.around.fi. The share issue ends on the 7th of November at 16.00 at the latest.

For more information:

Tatu Leppänen, +358 40 771 9070, tatu.leppanen@tracegrow.com



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