Cold Pad Secures Funding to Transform Fastening and Bonding Across Key Industries

Expanding Revolutionary Non-Intrusive Technologies from Maritime sectors to Nuclear, Wind Turbine, and Civil Engineering

MEYLAN, A CORUñA, FRANCE, June 26, 2024 /EINPresswire.com/ -- Cold Pad, an innovative engineering company revolutionizing bonded fastener technologies, has secured €7.1 million in funding to accelerate the development of its cold bonding product line. Cold Pad's advanced bonding technology and non-intrusive fastening solutions offer an innovative cost-effective, CO₂ saving alternative to traditional welding and drilling. By eliminating the need for intrusive fastening or hot work, the technology minimizes downtime and prevents structural fragilization, resulting in significant ROI for maintenance operations. This funding will enable Cold Pad to expand from offshore and oil and gas markets to other demanding sectors, including wind turbines, nuclear power, shipping, and civil engineering.

The company's patented heavy-duty bonded fasteners, known for their ease of installation and possibility of removal, ensure durability that lasts for decades, even in harsh marine environments. Cold Pad's solutions are ideal for construction and maintenance projects that need to avoid drilling or welding. Globally trusted by the major players in the oil and gas industry, Cold Pad's products became the first bonded technology qualified for use in nuclear power plants in 2023. Furthermore, Cold Pad has introduced a new product line of anchor points for steel, offering quicker installation, enhanced safety, and greater reliability compared to existing bonded technologies.

The technological advancement provided by Cold Pad's solution is recognized by major French companies, including EDF and TotalEnergies, as well as international ones, and supports the company's strong commercial momentum.

The recent funding round saw Cold Pad raise a total of €7.1 million, including €2.5 million in non-dilutive grants from the European Investment Committee and €0.5 million from “France Relance Nuclear Program”. Key private investors include NCI, LBO France and Clery joined by the European Investment Bank EIB. These funds will be instrumental in expanding Cold Pad's R&D capabilities, developing the product portfolio for volume markets, and enhancing its sales team and distribution network. This will enable the company to offer reliable and cost-effective products for new markets such as wind turbines and civil engineering.

"We are experiencing a revolutionary moment comparable to the invention of welding two centuries ago. After pioneering adhesive bonding techniques, our ambition is now to democratize our non-intrusive solutions for the harsh industrial environments. Our portable tool can safely and quickly bond anchor points, eliminating the need for drilling and welding, thus protecting structures, and enhancing safety," said Jean-Philippe Court, Chairman and Founder of Cold Pad. Julien Bec, CEO of Cold Pad, added, “We are honored to have the support of prestigious investors which will drive our innovation towards a CO2 neutral world and support the reindustrialization of Europe."

Cold Pad's technology is set to significantly impact the wind turbine sector by reducing the consumption of rare earth elements and steel. For instance, and for large wind turbines, Cold Pad's innovation is expected to save up to 100 tons of steel per wind tower, translating to approximately €300,000 in savings and 180 tons of CO2 saved per tower. Developed in France and manufactured in Europe, it supports European reindustrialization efforts. As one of the 12 French startups selected by the Horizon Europe (EIC) 2024 Work program, Cold Pad is positioned to contribute to a greener future.

The company plans to secure CE marking to comply with EU safety, health, and environmental requirements for its technology by the end of 2024, a qualification necessary for applications in civil engineering. This certification, along with the development of a complete product line, will allow Cold Pad's technology to be used in a wide range of applications, from simple constructions to 20 MW floating wind turbines.

About Cold Pad: Cold Pad, founded in 2011, is a deep tech company based in France, that offers bonded technologies as an alternative to welding or drilling. With 30 patents, Cold Pad's technology allows for an unprecedent reliability and durability. Cold Pad has developed the only approved bonded fastener for nuclear power plants. Thousands of these fasteners have been installed in marine environments, and the technology is especially suited for wind turbine construction, reducing steel consumption and eliminating the use of rare earth elements.

DUFOUR Camille
International PR Consulting
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