Industrifonden invests in BoMill
4 July 2014
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.