Ekoscan Integrity, a leading European end-to-end technology provider of ultrasonic (UT) nondestructive testing (NDT) advanced solutions, has announced that it has successfully raised €23 million by partnering with leading private equity firm Abénex, alongside a new strategic sponsor EDF Group through its corporate venture capital arm, EDF Pulse Ventures1, as well as its historical strategic investor ALIAD, Air Liquide Venture Capital fund. This partnership also allows Ekoscan Integrity and its strategic investors to develop longstanding and fruitful business relationships.
Director of Abénex
"We’re excited to partner with Ekoscan Integrity as we believe that their clients will increasingly require end- to-end technologies that can easily and effectively monitor the integrity and extend the operational life of their assets.
Managing Director at ALIAD, Ekoscan
Integrity’s historical strategic shareholder
"We are proud to continue accompanying Ekoscan Integrity in its development. Its next-generation ultrasonic non-destructive testing solutions will support increasing the reliability of industrial units across the globe.
Chief Innovation Officer at EDF group
"Demand for next generation inspection solutions will increase significantly in the coming years, driven by the more stringent safety controls and asset lifetime extensions in the industrial space. In the energy sector, we are convinced that Ekoscan Integrity’s innovation capabilities will enable to develop cutting edge inspection solutions, and particularly in the nuclear field.
ABOUT THE FUNDING
The funding will help further expand Ekoscan Integrity’s international footprint, increase its delivery capacity and support the roll-out of its next-generation ultrasonic inspection solutions through automated systems and connected probes, hence enabling the transition from preventive to predictive maintenance. Beyond the current round and organic expansion plans, Abénex, ALIAD & EDF Pulse Ventures are excited to support Ekoscan Integrity in its ambition to further participate in the industry consolidation
CEO at Ekoscan Integrity
“EKOSCAN INTEGRITY HAS EXPERIENCED TREMENDOUS GROWTH.
Asset integrity is at the top of most industrials’ priority list, from Chemicals, Power & Energy, Hydrogen, Mobility to Aerospace & Defense. We have built a fast growing and profitable company in a competitive market, largely due to our constant innovation and anticipating the unexpected. This funding round will help us realize our ambitious plans to significantly increase the adoption and scale-up the next gen NDT inspection.
ABOUT EKOSCAN INTEGRITY
FOUNDED IN 2010, EKOSCAN INTEGRITY IS A FRANCE-BASED END-TO-END TECHNOLOGY PROVIDER OF ULTRASONIC (UT) NONDESTRUCTIVE TESTING (NDT) SOLUTIONS FOR HIGH VALUE-ADDED INSPECTION THAT ALLOWS FOR PREVENTIVE, LEAN, COST-EFFICIENT AND BEST-IN-CLASS MONITORING OF CLIENTS’ INFRASTRUCTURE ASSETS.
Ekoscan Integrity has rapidly expanded worldwide on the back of a clear technological edge in UT NDT with proprietary patents, a unique know-how, and an AI data-driven approach, coupled with 40+ years of senior team’s industry experience gained notably in the very demanding nuclear industry.
Its vertically integrated business model is built around two business units fully focused on UT NDT advanced technologies: (i) Products: UT components (probes, wedges, …) and integrated systems; and (ii) Services (under Intact brand name): engineering, semiautomated inspection, robotics, analytics services, and connected probes.
Ekoscan Integrity leverages on an AI data-driven approach to bring the most appropriate advanced technologies to the most demanding clients operating critical infrastructures thanks to proprietary
algorithms and a privileged access to Extende CIVA, the cutting-edge NDT simulation software.
EKOSCAN INTEGRITY HAS ALREADY AN INTERNATIONAL PROFILE WITH A GLOBAL TEAM SERVING 50+ COUNTRIES, A LOCAL FOOTPRINT IN EUROPE (INCLUDING FRANCE AND GERMANY) AND IN NORTH AMERICA AND A VERY SOLID FINANCIAL PROFILE, DELIVERING HIGH GROWTH.
Founded in 1992, Abénex is a historical player in the Small and Mid-cap private equity market, specialized in growth and buyout transactions in Europe both as a minority and majority shareholder. Independent for more than 14 years, Abénex operates on three segments of private equity: Small-cap, Mid-cap and Real-estate.
On Small and Mid-cap segments, Abénex is a long-term investor partnering with entrepreneurs and founding families, and operationally-involved in growth and operational optimization projects. Abénex typically invests in SMEs valued up to €50m in Small-cap and between €50m and €300m in Mid-cap.
Abénex is committed to the Management team’s success, providing them with a fully dedicated operational team. Being a pioneer in 2008 when setting up the team, Abénex now has 5 seasoned professionals contributing to strategic initiatives, business structuration and transformation, profitable growth, sustainability and value generation. Abénex was also instrumental in the creation of Operating Partners Club of France Invest launched in 2020. The team is composed of 40+ professionals with demonstrated and renowned expertise, located in Paris and Lyon.
Created in 2013, ALIAD (Air Liquide Venture Capital) invests in startups which develop innovative technologies or business models, especially in the energy transition and health sectors, contributing to Air Liquide’s Innovation strategy. These investments are accompanied by the implementation of technological and commercial agreements between these new companies and the entities of the Air Liquide Group to accelerate the startups’ growth and create value for the Group. Since its creation, ALIAD has invested in 35 startups and 7 funds.
ABOUT EDF & EDF PULSE VENTURES
A major player in the energy transition, the EDF group is an integrated energy company, present in all business lines: production, transport, distribution, trading, energy sales and energy services. World leader in lowcarbon energies, EDF group has developed a diversified production mix based mainly on nuclear and renewable energy (including hydropower) and invests in new technologies to support the energy transition. EDF’s “raison d’être” is to build a CO2-neutral energy future that reconciles preservation of the planet, well-being and development, thanks to electricity and innovative solutions and services. EDF group participates in the supply of energy and services to approximately 38.5 million customers1 , including 29.3 million in France2 . In 2021, it achieved consolidated revenue of 84.5 billion euros. EDF is listed on the Paris Stock Exchange.
Within EDF’s innovation department, EDF Pulse Ventures’ mission is to identify new activities and innovative solutions outside the EDF group, to develop the investment portfolio carried by EDF Pulse Holding in start-ups and in venture capital funds. Since 2017, around 270 million euros have been invested in approximatively 25 internal or external start-ups and in 20 investment funds, mainly in France, but also in Europe and North America.
1. Customers are counted since 2018 by delivery site; a customer can have two delivery points: one for electricity and another for gas
2. Including ÉS (Electricité de Strasbourg) and SE