EIB commits to supporting Finnish new-tech company TactoTek

By shaping the electronics in the desired form as part of the end product, IMSE technology allows brands to add electronic parts to product designs without compromising on their shape.

The European Investment Bank has committed to supporting Finnish company TactoTek, which develops “in-mould structural electronics” (IMSE®) production methods and technologies. The company will use the financing to increase its investments in innovation and research, as well as to sustain its growth, which was hampered by the difficulties brought about by the COVID-19 pandemic. The financing was made available under the European Guarantee Fund (EGF), a pan-European programme to help SMEs that are viable in the long-term but are struggling in the current crisis, to grow their way out of the ongoing difficulties.

By shaping the electronics in the desired form as part of the end product, IMSE technology allows brands to add electronic parts to product designs without compromising on their shape. IMSE electronics are produced using clean, additive manufacturing processes. Moreover, a lifecycle analysis shows that a representative IMSE part reduces plastics use by 70% and cuts cradle-to-gate greenhouse gas emissions by 35% relative to a conventional electronics assembly. Apart from increasing importance in the automotive and home appliances markets, IMSE technology can also be applied in flexible materials, for example in wearables, smart clothing and other Internet of Things (IoT) applications.

EIB Vice-President Thomas Östros stated: “I think it’s clear that Europe should focus on supporting its home-grown innovative industries, making sure that the technology, expertise and know-how developed in EU countries can thrive. In recent years, the EIB has created an array of financial instruments to sustain companies like TactoTek, and now the European Guarantee Fund really gives us the firepower to enhance this support. The applications that TactoTek’s technology makes possible are endless, making it important to support this, also as an enabler for other industries.“

“The pandemic is causing significant uncertainty for most businesses, and initially slowed adoption of new technology,” added Jussi Harvela, TactoTek CEO. “We’re very positive about the market acceleration we’re experiencing, and TactoTek having access to EGF funding and the support of our investors will inspire confidence in our customers that include global leaders in automotive, consumer/industrial brands, and their suppliers who license IMSE technology.”