Symbol is a Ukrainian producer of innovative cast iron and steel products for the mining industry, metallurgy, and engineering.
It developed its innovative plain bearings, Ferrobearings, for heavy-duty applications in rolling mills, both hot rolling mills and cold rolling mills, to replace the classical bronze plain bearings and use scrap metal instead as a core material.
Such technology is significantly reducing production carbon footprint as well as the cost per a single plain bearing. According to the recent tests the Symbol products have at least 4x lifespan compared to classical plain bearings, and they are 70-80% cheaper.
The company used the Climate Innovation Voucher to obtain a European patent, conduct market research, and implement a proper management system.