Eaglefiltersgroup
Public · 8 known investors
Eagle Filters Group develops advanced fiber-based filtration materials and products used to improve air filtration efficiency and cut energy use for the energy and process industries, HVAC and industrial filter manufacturers, and healthcare settings such as hospitals. Its solutions target gas turbines, gas engines, compressors, and building air quality.
Also known as EAGLE · Eagle Filters · Eagle Filters Group Oyj · Eagle Filters Group Plc · Eagle Filters Ltd · EAGLES
Investors · 8
Also in the syndicate · 7
Company profile
researched Aug 2026Eagle Filters Group is a Finnish material science company that develops and supplies advanced fiber-based air filtration materials and finished filtration products. Its stated aim is to cut energy consumption and CO2 emissions for energy utilities, industry and real estate while improving indoor air quality. The group's product lines cover high-performance filtration solutions for the energy and process industries and advanced fiber materials sold for incorporation into other manufacturers' filters.
Application areas include gas turbines, gas engines, compressors and other industrial air intake systems; manufacturing customers such as HVAC filter producers and industrial filter producers; and health and safety environments including hospitals, industry and retail. Its operating subsidiary Eagle Filters Ltd, based in Kotka, Finland, has developed air filtration systems and air intake handling for gas turbine, diesel engine and compressor applications since 1995, and states its patented solutions have been tested and verified by large energy utilities. The parent company is listed on Nasdaq First North Growth Market Finland (ticker EAGLE) and First North Growth Market Stockholm (ticker EAGLES), with DNB Carnegie Investment Bank AB acting as Certified Adviser.
Business model
The group sells filtration products and advanced fiber materials to industrial and utility end users and to filter manufacturers, positioning the products on energy savings, higher plant output and reduced emissions rather than filter price alone. It also acts as a subcontractor within larger equipment programmes, for example supplying components into a project where a large corporation won a contract for various gas turbine components.
Sales of filtration products, filter systems and fiber materials to industrial, utility and manufacturing customers, with the value proposition based on energy savings and improved engine or plant performance.
Traction
Revenue increased 113 per cent to EUR 1.6 million from EUR 0.7 million in the period reported on 29 April 2026. Fourth-quarter EBITDA loss was stable at EUR 0.6 million as reported on 26 February 2026. Following the December 2025 share issue the company had 235,918,555 shares outstanding.
Latest developments
On 26 May 2026 the board resolved on a directed share issue of up to 28,600,000 new shares at EUR 0.07 each, targeting gross proceeds of about EUR 2 million, with an upsize option of a further 21,400,000 shares; subscription ran from 27 May to 1 June 2026 and trading in the new shares was expected to begin on or about 5 June 2026. Anchor investors Ville Väätäjä, Thorkel Investments Oy, Joint Effects LLC and Matti Vuoria committed EUR 1 million in aggregate, to be paid by setting off company loans. Daniel Lähde was appointed CFO effective 10 June 2026 after Timo Linnainmaa's resignation announced on 20 January 2026, and a new CEO was reported on 15 June 2026. Half-year results to 30 June 2026 were reported on 20 August 2026.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Eagle Filters Ltd describes itself as a market leader in custom air filtration solutions and air intake handling for gas turbines, and states its technology is used by some of the world's largest energy utilities. The company frames the addressable opportunity around natural gas power generation, noting over 20 per cent of world electricity is produced using natural gas.
Technology
Patented high-performance air filtration media and fiber technology combining energy efficiency, mechanical durability and aerodynamic performance. For gas turbine applications the company states its solutions can increase annual output by up to 6 per cent and improve overall fuel efficiency by up to 3 per cent.
Go-to-market
Energy utilities and the process industry (gas turbine, gas engine, diesel engine and compressor operators), HVAC and industrial filter manufacturers, and health and safety environments including hospitals, industrial sites and retail premises.
Geography
Headquartered in Kotka, Finland (Runeberginkatu 25, 48200 Kotka), with products stated to be used by operators and end users globally and on every continent. Equity is listed in Helsinki and Stockholm, and its 2026 share offering targeted retail investors in Finland plus institutional investors in the European Economic Area and the United Kingdom.
History
The operating business was established in Kotka, Finland in 1995 and has developed air filtration systems since then; Eagle Filters Ltd now forms part of the listed Eagle Filters Group. In 2025 and 2026 the group repeatedly raised equity through directed share issues to cover working capital tied up in a large gas turbine component project and to strengthen its capital structure. Leadership changed in 2026, with a new CFO appointed in June 2026 and a new CEO recruited the same month.
Risks & controversies
The company has repeatedly disclosed constrained liquidity: working capital is tied up in a large customer project whose deliveries were delayed for customer-related reasons, and it states it has limited sources of additional working capital and debt financing. Postponed deliveries and higher finished goods inventory have raised working capital requirements, leaving the company dependent on proceeds from new orders; management has said it would cut costs and/or raise further funding if the business does not develop as planned. Successive directed share issues at discounts to market price dilute existing shareholders, and part of the 2026 offering was subscribed by converting existing loans to equity. The share price was down 8.91 per cent over the prior five days as quoted on 28 August 2026.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 6
launches, deals, and filingsThe company announced a CEO change, recruiting a new chief executive.
Eagle Filters Group appointed Daniel Lähde as Chief Financial Officer, effective 10 June 2026.
The board resolved on a directed offering of up to 28,600,000 new shares at EUR 0.07 per share, aiming for approximately EUR 2 million in gross proceeds, with an upsize option of up to 21,400,000 additional shares (maximum 50,000,000 shares in total). Subscription ran 27 May to 1 June 2026, with trading in the new shares expected to start on or about 5 June 2026. Anchor investors Ville Väätäjä, Thorkel Investments Oy, Joint Effects LLC and Matti Vuoria committed EUR 1 million in total, payable by setting off company loans. Proceeds were earmarked for liquidity, capital structure and business scaling.
Eagle Filters Group announced the resignation of Chief Financial Officer Timo Linnainmaa, effective no later than 13 April 2026.
The board resolved on a directed share issue of EUR 800,000, offering 12,307,691 new shares at EUR 0.065 each, a 7.1% discount to the 22 December 2025 closing price. Subscribers were Ville Väätäjä (EUR 300,000), Jarkko Joki-Tokola (EUR 300,000) and Joint Effects LLC (EUR 200,000). The shares represented about 5.2% of outstanding shares after the issue, bringing the total to 235,918,555. The issue followed further customer-related delays in deliveries for a large gas turbine component project.
The board resolved on a directed share issue of EUR 1,270,000, offering 19,538,458 new shares at EUR 0.065 each, a 5.2% discount to the 12 June 2025 closing price. Subscribers were Joint Effects LLC (EUR 400,000), Thorkel Investments Oy (EUR 400,000), Ville Väätäjä (EUR 400,000), Matti Vuoria (EUR 25,000), Ultima Thule Oy (EUR 25,000) and Janne Vertanen (EUR 20,000). The shares represented about 8.7% of outstanding shares after the issue, bringing the share count to 223,610,864. Proceeds addressed working capital tied up in a large gas turbine component project.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 8
primary sources listed
- Eaglefiltersgroupeaglefiltersgroup.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Eaglefiltersgroup do?
- Finnish listed material science group making high-performance air filtration products for gas turbines, industry and buildings.
- Who are Eaglefiltersgroup's investors?
- Eaglefiltersgroup's investors include Tesi (Finnish Industry Investment Ltd).