Since launching yesterday on Companisto, German tech firm Copaltec has raised over 163,790€ from more than 143 investors for 14.63% equity offered. having already surpassed its initial 100K€ goal, the company is now aiming to hit its 600K€ goal within the next 59 days or by 20 October. The largest investment to date was 50,000€ for the company valued at 3,500,000€.
Copaltec, which focuses on the industrial uses of cast resin, notes €240,000 revenue in 2016 with over 100% sales revenue growth in Q1 2017 in comparison to Q1 2016. Copaltec founder and qualified chemical engineer, Andreas Hartwig, worked on the research and development of the product formulation for over 5 years with copaltec founder and qualified media industry expert Stefanie Lauer.
Copaltec’s products are used in a variety of industries, such as electric mobility, the lighting industry and battery technology, supplying over 50 international business customers including DAX 30 companies such as Siemens AG.
“Objective measurements have shown that copaltec products are better and more efficient at transferring heat to the outside than market solutions,” indicated the company via its campaign. “By means of industrial tests, we have confirmed the theoretical values for the thermal conductivity of our material.”
In order to protect these sensitive components in electronic against external influences and overheating, Stuttgart-based copaltec develops and produces special plastics for high-performance electronics. The cast resins are based on two liquid components. Copaltec uses a chemical process to cast resin which becomes a plastic-like material with special properties for customer to use on-site.
“Due to increasing digitalisation, the demands on electronic components are also increasing and thus also on the cast resins used. When electrical devices are operated ever more heat occurs. So, in order that the devices can continue to work at the highest level of performance, the heat must be transferred to the outside, as this would otherwise hamper the performance,” according to copaltec. “In the example of an electric motor, pouring the copper windings with our heat conductive cast resin leads to an operating temperature reduction of over 30°C and thus a power increase of over 20%. We were convinced of the huge potential even before the development of the first heat conductive product.”
Since 2014 the Business Angel of the Year (2016) Dr. Tobias Engelhard is a copaltec GmbH investor.
If 600K€ is raised, crowdfunds will primarily be used to expand copaltec’s human resources, specifically in sales and project management with focus on supporting industrial customers from pre-production to process introduction and ultimately to series production. Finding will also be used to expand storage and production areas and the manufacturing facilities and increasing marketing measures; participation in trade fairs and an updated website are also planned. If 800K€ is raised, copaltec plans to expand its production in order to meet the requirements and volume requests in the area of electric mobility, adding production facilities, furnaces, storage systems and an extension of the production areas.
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