🚀 Startup Spotlight 🚀 Exel Composites Plc

🚀 Startup Spotlight 🚀

Exel Composites Plc - Finnish manufacturer of pultruded and pull-wound composite profiles and tubes for industrial applications, listed on Nasdaq Helsinki.

🔍 Company Overview

- CEO: Paul Sohlberg

- Year Founded: 1960

- Location: Vantaa, Finland

- Team Size: 501-1000

- Webpage: https://lnkd.in/etUtCESC

🎯 What They Do

- One-line Description: Finnish manufacturer of pultruded and pull-wound composite profiles and tubes for industrial applications, listed on Nasdaq Helsinki.

- Target Customers: Industrial OEMs in wind energy, transportation, building & infrastructure, telecommunications, defense, and electrical industries

- Industry Verticals: Hardware

🚀 Achievements & Status

- Current Stage/Status: Public

- Major Milestones: Post-IPO

- Key Investors: 1960: Founded as Explosive Electrics; 1973: Entered composites with fiberglass ski poles; 1974: World's first carbon fiber ski poles (patented); 1976: Ski poles debuted at Innsbruck Winter Olympics; 1990s: Listed on Helsinki Stock Exchange; 2000s: Expanded to Belgium, China, Australia, UK; 2010s: Acquired Nanjing Jianhui Composite Material (China) and Diversified Structural Composites (USA); 2021: JV with Kineco Group in India; 2024: €21.8M rights issue; 2025: Won Vestas bidding for carbon planks in India

- Basic Growth Metrics: Revenue €103.2M (FY2025); Q1 2026 revenue €30.2M (+19.4% YoY); Order backlog €98.6M (Q1 2026); ~632 employees (2025); Listed on Nasdaq Helsinki (EXL1V)

💡 Competitive Edge

- How They Differentiate: Exel is the world's largest pultruder with over 65 years of experience, a global manufacturing footprint across 6 countries, and the only pultrusion company with significant presence on all major markets. Its continuous manufacturing technologies (pultrusion and pull-winding) enable high-volume, consistent quality production. The company holds deep expertise in carbon fiber composites for demanding applications like wind turbine spar caps and elevator ropes.

- Key Technological Advantage:

📈 Funding & Partnerships

- Total Funding Raised: $23.7M

- Latest Funding Round: Post-IPO

- Key Investors: Publicly traded on Nasdaq Helsinki (EXL1V); Danske Bank; Nordea Bank

- Key Partnerships/Collaborations: Vestas Wind Systems (long-term supplier of carbon planks for wind turbine spar caps); KONE (supplier of UltraRope carbon fiber elevator ropes); Kineco Group (joint venture — Kineco Exel India in Goa, India)

Based on database updated on: 2026-07-11T16:02:59.032Z

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