The management, existing shareholders and Finindus join forces to support Nutara’s further international expansion
Lier, Belgium – 16 December 2016 – Nutara, a Lier (Belgium) based engineering and technology company specialized in environmental and energy related process technologies, has received a 2 million Euro capital injection from its existing shareholders: Marcel Goemans – Nutara’s CEO, Vuurvast and Tialoc, as well as from its new shareholder, Finindus.
Nutara develops and delivers “environmental payback projects” using a range of in-house developed proprietary technologies. These technologies recover energy and/or valuable products from industrial effluents, waste and residues, generating a new source of income for its clients.
Nutara’s proprietary technologies are applied in different solutions:
- for energy production: advanced multifuel/flexifuel burners, advanced thermal oxidizers, boilers and heaters, energy-from-waste systems;
- for product recovery: vapor recovery units (VRU), flare gas recovery units (FGRU) and sulfur recovery units (SRU);
- for safety and environmental protection: vapor extraction and treatment (ATEX Zone 0), elevated flares, ground flares and combustors, deNOX and gas cleaning systems
Nutara is a well-known supplier to the chemical and petrochemical as well as steel industry, and is further extending its reach in new geographies and newly developing business areas. The company has activities worldwide and has established branches and subsidiaries in France, Italy, the UAE (Dubai) and India. Through a partnership with Tialoc, one of its shareholders, Nutara also serves the Chinese market.
The company experienced double digit year-on-year growth for the last three years. An ambitious expansion in strategic growth markets outside Europe was started in 2014, which has resulted in major commercial breakthroughs in India, the Middle East and South America in 2016:
- In January Nutara was awarded the design and construction of a hazardous waste treatment plant for the leading waste management company in Ecuador;
- In July the company won a 6 million Euro contract with the Oil and Natural Gas Company of India (ONGC) – the largest public oil & gas company in India – in a project to eliminate H2S emissions at their largest gas treatment plant, located in Uran, near Mumbai (India);
- In November the company won a repeat order to supply thermal processing equipment for a new sulfur recovery unit (SRU) at the Numaligerh Refinery in Assam (India);
- In December the company was awarded the design and construction of a hazardous waste incineration facility as part of a multi-billion Euro green field chemical project in Oman.
In a comment to the transaction Marcel Goemans, CEO of Nutara states: ’With the recent sharp growth in high profile customer projects it was clear we needed to strengthen our balance sheet. Finindus helped us to do exactly that, while also bringing an industrial mindset and strong network to the table.’
‘We are excited to be able to support a Flemish technology company in its international growth,’ added Hans Maenhout, Investment Director of Finindus, ‘especially since Nutara offers innovative but proven
technologies focusing on environment and energy, not co-incidental two key topics for both our shareholders.’
ABOUT Nutara
Nutara was founded in 1999 by a group of combustion engineers, combining over 150 years of cummulative experience in the field. Nutara started as an engineering & technology company and EPC contractor and has grown into a full-service provider along the project life cycle: from performing feasibility studies over full engineering, procurement and construction activities to offering operational support and maintenance services, once in operation.
Nutara has built over 250 installations in more than 35 countries on all continents.
(www.euro-pem.com)
ABOUT FININDUS
Finindus is a Belgian investment company backed by ArcelorMittal and the Flemish Region. Finindus invests in early stage and growth companies, with a specific focus on materials, material processing and sustainable manufacturing.
(www.finindus.be)
Note for editorial staff (not for publication):
For further information please contact:
Marcel Goemans, CEO
Tel. : +32 473 92 93 32
Email : mgoemans@euro-pem.com
Hans Maenhout, Investment Director at Finindus.
Tel. : +32 9 – 345 12 07
Email : hans.maenhout@finindus.be
