Industrifonden invests in BoMill
4 July 2014, 08:24 CET
Industrifonden is investing SEK 15 million in Lund, Sweden-based BoMill AB, which has developed high-speed grain sorting equipment. The previous owners are also participating in the share issue, totaling SEK 18.5 million. The money will be used for BoMill’s international expansion.
BoMill, which launched operations in 2003, originated from technology patented by the company’s founder, Swedish biochemist Bo Löfqvist. Using a special machine, grains and seeds are sorted by quality. Each kernel is positioned and illuminated by short wave infrared light. By analyzing the transmitted light, the quality of the kernel can be determined according to protein content, for example. The entire process is lightning quick (24,000 seeds per second), making it possible to analyze and sort huge amounts of grain. A single machine has a total capacity of around three tons per hour.
The customer, e.g., a mill or grain trader, can separate high-quality kernels for the consumer market from animal feed. Normally this is done through spot checks, but that only measures the mean value of a grain lot. Sometimes this means an entire lot will go to waste even though much of it is of higher quality.
“BoMill’s equipment is highly innovative and has great international potential,” says Thomas Carlström, Investment Manager at Industrifonden. “It offers tremendous benefits for the customer, who can utilize every kernel of high-quality grain while sorting out infected grain, raising the value of the entire lot.”
The company has recently launched a development project together with a US-based multinational to sort a new type of grain with large global commercial potential.
BoMill’s machine is used to sort various types of seeds as well. The company is already involved in a major project together with one of the world’s largest plant breeders to improve seed sorting. BoMill also recently received a grant to work on fir seedlings.
“We are very pleased to have Industrifonden as an owner,” says BoMill CEO Karin Wehlin. “With their capital, far-sighted approach and experience, we can shift our expansion into high gear.”
For more information, please contact
Thomas Carlström, Investment Manager, Industrifonden, tel. +46 70 566 14 01
Karin Wehlin, CEO of BoMill, tel. +46 703 05 24 88
Industrifonden invests in small and medium-sized Swedish companies with international growth potential. We take a long-term approach, usually in partnership with entrepreneurs and other investors. The Fund has assets of SEK 3.5 billion and investments in around 90 companies in technology, cleantech, life science and industry.
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THIS PRESS RELEASE IS NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, WITHIN OR INTO AUSTRALIA, BELARUS, CANADA, HONG KONG, JAPAN, NEW ZEALAND, RUSSIA, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND, OR THE UNITED STATES OF AMERICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER ACTIONS. PLEASE REFER TO THE SECTION “IMPORTANT INFORMATION” BELOW.
BoMill AB (the "Company" or "BoMill") announces that the rights issue of new shares with preferential rights for the shareholders was resolved by the ordinary general meeting April 12, 2024 and whose outcome was announced by the Company through a press release on May 15, 2024 (the "Rights Issue"), is now registered with the Swedish Companies Registration Office and the paid subscribed shares ("BTA") will therefore be replaced with ordinary shares.
BoMill announces outcome of the wholly guaranteed Rights Issue
15 May 2024
THIS PRESS RELEASE IS NOT FOR RELEASE, DISTRIBUTION, OR PUBLICATION, DIRECTLY OR INDIRECTLY, WITHIN OR INTO AUSTRALIA, BELARUS, CANADA, HONG KONG, JAPAN, NEW ZEALAND, RUSSIA, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND, OR THE UNITED STATES OF AMERICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER ACTIONS. PLEASE REFER TO THE SECTION "IMPORTANT INFORMATION" BELOW.
BoMill AB (the "Company" or "BoMill") announces hereby the outcome of the wholly guaranteed rights issue of shares with a subscription period ended on May 14, 2024 (the "Rights Issue").
The outcome of the Rights Issue shows that 26 962 308 shares were subscribed for with the support of subscription rights, corresponding to approximately 96.6 percent of the Rights Issue; and 8 289 101 shares were subscribed for without the support of subscription rights, corresponding to approximately 29.7 percent of the Rights Issue. In total, 35 251 409 shares were subscribed for with and without the support of subscription rights with an issue amount of SEK 21 150 845.40, corresponding to approximately 126.3 percent of the Rights Issue. Thus, the Rights Issue was oversubscribed, and no guarantee undertaking will be utilized. BoMill will receive a total issue amount of approximately SEK 16.8 million before transaction costs through the Rights Issue.