EconCore
EconCore N.V., founded 2005 in Leuven, Belgium, licenses patented ThermHex technology — a continuous in-line process for producing thermoplastic honeycomb sandwich cores — to global manufacturers serving automotive, transportation, solar, construction, packaging, and marine markets. Revenue is generated primarily through technology licensing and machinery sales, complemented by co-development partnerships with companies such as Solarge and Daimler Truck AG.
- Company typePrivate
- Founded2005
- HeadquartersLeuven, Belgium
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What EconCore does
EconCore N.V., founded in 2005 and headquartered in Leuven, Belgium, develops and licenses the patented ThermHex technology — a continuous, in-line production process for thermoplastic honeycomb sandwich cores. The process converts a single extruded thermoplastic sheet into folded honeycomb through successive vacuum-forming and folding operations, producing rigid, lightweight sandwich cores (primarily polypropylene, plus variants in recycled PET, fire-resistant high-performance thermoplastic, and co-extruded recycled PP) at low conversion cost. The company serves seven primary customer verticals — automotive, transportation, PV panels and infrastructure, building and construction, reusable packaging, marine, and graphical/display — through finished or semi-finished products such as PP honeycomb cores, thermoplastic composite panels, and steel, aluminium, or polycarbonate-skinned sandwich panels.
EconCore monetizes predominantly via technology licensing and related machinery/engineering services to a global network of manufacturers, including ThermHex Waben GmbH (Halle, Germany — its wholly-owned production subsidiary), Itochu and Gifu Plastics/Kotobukiya Fronte (Japan), Karton/Exalite and Renolit GOR (Italy), Röplast (Turkey), Tata Steel (UK, Coretinium brand), and Fynotej/Fynocore (Mexico). It supplements the licensing model with co-development partnerships (e.g., Solarge for lightweight circular solar panels since 2018; Fraunhofer IMWS and Daimler Truck AG for the HyWaSand truck component project). Distribution combines direct B2B licensing sales, joint exhibition with the Halle licensee at JEC World (Paris), and a multilingual corporate website supporting seven brochure languages.
The firm is private (Belgian N.V.), employs 11–50 staff, and is led by founder/CEO Dr.-Ing. Jochen Pflug (also CEO of ThermHex Waben GmbH since 2010). Its capital base draws from KU Leuven LRD GFF (historical spin-off), Allegro Investment Fund, and EconHP Holding GmbH. Major recent product milestones include the 2023 launch of the world's lightest sustainable sandwich panels (5mm cell size), the 2024 commercialization of ThermHexWAVY geometry, the 2025 commercialization and JEC Innovation Award for ThermHexCOEX co-extrusion, and active development of HPT FR/FST fire-resistant and RPET recycled cores for aerospace/railway and circular-economy applications.
EconCore firmographics
Firmographics- Name
- EconCore
- Legal name
- EconCore N.V.
- Website
- https://econcore.com
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- EconCore N.V., founded 2005 in Leuven, Belgium, licenses patented ThermHex technology — a continuous in-line process for producing thermoplastic honeycomb sandwich cores — to global manufacturers serving automotive, transportation, solar, construction, packaging, and marine markets. Revenue is generated primarily through technology licensing and machinery sales, complemented by co-development partnerships with companies such as Solarge and Daimler Truck AG.
- Ownership category
- akta.pro rank
EconCore industry classification
Industry- Product category
- Composite Materials Technology
- NAICS
- Plastics and Rubber Products Manufacturing (326)
- SIC
- Plastics Foam Products (3086)
- akta.pro primary industry
- Thermoforming Machinery & Automation (IMANAHAK)
- akta.pro secondary industries
- Recycled & Sustainable Thermoformed Products (rPET/rPP, Bio-based) (IMANAHAL), Thermoformed Packaging (Food, Beverage & Consumer Goods) (IMANAHAA)
Keywords
Where EconCore is headquartered
LocationHeadquarters
- HQ city
- Leuven
- HQ country
- Belgium
- HQ region
- Europe
Offices2 records
Markets served
EconCore business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Technology Licensing: EconCore licenses its ThermHex honeycomb production technology to manufacturers worldwide. Licensees gain access to the patented continuous production process for honeycomb sandwich materials, with support in application development and production line integration.
- Technology Sales: Sale of automated production technologies and production machinery to licensees and partners.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
EconCore product offering
Product offeringCore offering
EconCore develops and licenses the patented ThermHex Technology for the continuous, in-line production of thermoplastic honeycomb sandwich materials, combining extrusion, vacuum forming, and folding operations into an automated high-volume process. It sells its technology and production machinery to industrial manufacturers and licenses the patented process for use in automotive, transportation, building & construction, solar/photovoltaic, aerospace, marine, packaging, furniture, and graphical applications. Through its subsidiary ThermHex Waben GmbH, EconCore also directly manufactures PP honeycomb cores and thermoplastic composite sandwich panels in Germany.
Product overview
EconCore provides technology for the continuous production of honeycomb sandwich materials. The core offering is the ThermHex Technology platform, which enables continuous production of thermoplastic honeycomb cores from a single sheet through extrusion, vacuum forming, and folding. The product portfolio includes PP (polypropylene) honeycomb cores as the primary material, with various product variants including ThermHexWAVY (enhanced buckling strength geometry), ThermHexCOEX (co-extrusion technology), RPET honeycomb (recycled materials), and HPT fire-resistant honeycomb. These cores are processed into Thermoplastic Composite Sandwich Panels combining honeycomb cores with various skin materials (thermoplastic composites, steel, aluminium). The technology serves diverse markets including automotive, transportation, building & construction, aerospace, railway, solar energy, furniture, and packaging through both direct licensing and partnerships with global manufacturers like ThermHex Waben, Itochu, Gifu Plastics, Tata Steel, and others.
Differentiator
Problem solved
Functional benefit
Brands
- ThermHex: Patented thermoplastic honeycomb technology for continuous production of honeycomb sandwich materials
- ThermHexWAVY
- ThermHexCOEX
- PP honeycomb core
- RPET honeycomb core
Products and services
- ThermHex Technology Patented continuous production technology for thermoplastic honeycomb sandwich materials, allowing production from a single continuous thermoplastic sheet by successive in-line operations including extrusion, vacuum forming, and folding. Licensed to manufacturers globally for automotive, transportation, building & construction, PV panels, aerospace, packaging, furniture, and marine applications.
- PP Honeycomb Core Polypropylene honeycomb core material providing cost savings and weight reductions with optimal mechanical performance for composite sandwich panels. Available in various cell sizes including 5mm for high surface quality applications across trucks, trailers, cargo boxes, automotive, transport, wind, solar, logistics, building & construction, and furniture.
- Thermoplastic Composite Panels Sandwich panels produced in continuous in-line process combining PP honeycomb cores with thermoplastic composite skins, delivering excellent mechanical performance and high surface quality for transportation, automotive, and construction applications.
- RPET Honeycomb Core Recycled PET honeycomb core made from post-consumer or post-industrial waste (such as plastic bottles), transforming recycled materials into performance-optimized honeycomb structures for sustainable applications.
- HPT (FR/FST) Honeycomb High Performance Thermoplastic honeycomb technology with fire retardant (FR) and Fire Smoke Toxicity (FST) properties for demanding applications in aerospace, railway, and other industries requiring fire safety compliance.
- Organosandwich A semi-finished thermoplastic composite material product combining honeycomb structure with thermoplastic composite skins, offering 100% thermoplastic construction for various applications.
- Steel Composite Panels Sandwich panels using ThermHex honeycomb core with steel skins for building and construction applications, combining the strength of steel with the lightweight benefits of honeycomb.
- Aluminium Composite Panels Sandwich panels using ThermHex honeycomb core with aluminium skins, suited to applications requiring lightweight and corrosion-resistant properties.
- Lightweight Circular Solar Panels (Solarge collaboration) Lightweight, fully circular solar panels using ThermHex honeycomb cores in place of heavy glass, achieving up to 65% weight reduction (a 2.66m² panel weighs 14.5kg vs. over 28kg with glass) for rooftop photovoltaic installations. Developed in collaboration with Solarge since early 2018.
- World's Lightest Sustainable Sandwich Panels (5mm cell size) Sustainable sandwich panels using a 5mm cell size honeycomb core for exceptional surface quality with thin skin layers and no telegraphing effect. Available in thickness 6-20mm and densities 1200-4200 g/m² for trucks, trailers, cargo boxes, automotive, transport, wind, solar, logistics, building & construction, and furniture applications.
Quantifiable outcome
- 65% weight reduction for solar panel rooftop installations
- +3 more outcomes
Companies that use EconCore
Customer profileNamed customers2 records
Segments8 records
Ideal customer profiles3 records
EconCore technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
EconCore partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- SolargecoreCollaboration since early 2018 to develop next-generation lightweight, fully circular solar panels. Solarge produces solar panels using EconCore's honeycomb technology, achieving 65% weight reduction. Joint development focuses on sustainable, recyclable solar panels replacing traditional glass-based models.
- ThermHex Waben GmbHcorePrimary manufacturing licensee for ThermHex technology in Germany. ThermHex Waben produces PP honeycomb cores and thermoplastic composite panels using EconCore's patented technology. They exhibit jointly at JEC World and represent the technology in European markets.
- Fraunhofer IMWS HalleminorResearch partner in the HyWaSand project developing sandwich storage covers for truck interiors. Collaboration with Daimler Truck AG for automotive applications.
- Itochu CorporationminorJapanese trading company and licensee for ThermHex technology in Japan market.
- Gifu Plastics (Teccell)minorJapanese licensee for ThermHex technology producing honeycomb cores.
- Karton/ExaliteminorItalian licensee for ThermHex technology.
- Renolit GORminorItalian licensee producing automotive honeycomb structures.
- RöplastminorTurkish licensee for ThermHex technology (Hexapan brand).
- TATA SteelminorUK licensee producing Steel Composite Panels with ThermHex honeycomb core (Coretinium brand).
- Fynotej/FynocoreminorMexican licensee for ThermHex technology.
- Kotobukiya FronteminorJapanese licensee for ThermHex technology.
Scale indicators2 records
Recent moves7 records
Expansion highlights6 records
EconCore competitors and assessment
Company assessmentBroad incumbents
- Armacell: Global manufacturer of PET-based foam core materials (ArmaFORM) for wind, transportation, and building sandwich panels. Closely comparable to EconCore's RPET core line and competes for similar sandwich core programs.
- Gurit: Swiss-listed supplier of composite materials, core kits, and engineered sandwich solutions for wind, marine, and transportation. Comparable in end-applications and customer base though broader in scope and not a thermoplastic honeycomb specialist like EconCore.
- Toray Advanced Composites: Producer of advanced composites and prepreg/sandwich solutions primarily for aerospace and industrial applications. Comparable in sandwich-material end markets (aerospace, rail) EconCore is targeting via its HPT (FR/FST) variant.
Direct peers
- Corex Honeycomb: Manufacturer of polypropylene honeycomb cores and sandwich panels serving automotive, transportation, and industrial uses in Europe. Direct functional overlap with EconCore's PP honeycomb and composite panel offerings in adjacent European markets.
- Hexcel Corporation: Direct competitor in advanced honeycomb core materials and sandwich panels serving aerospace, industrial, and transportation markets. Both companies produce honeycomb cores for sandwich panel applications, although Hexcel is far larger and aerospace-certified, making it the most relevant comparable for EconCore's continued push into rail and aerospace.
- Plascore: Manufacturer of honeycomb cores (aluminum, aramid, PP) and sandwich panels for aerospace, marine, and architectural use. A direct peer to EconCore in the honeycomb core and sandwich panel product category across multiple of EconCore's target verticals.
- Diab Group: Producer of structural foam cores (PET and PVC) for wind, marine, aerospace, and transportation sandwich panels. Directly comparable to EconCore in sandwich panel core applications and a likely competitor as EconCore's HPT (FR/FST) variant targets aerospace and rail.
- Nidaplast (NidaCore): French manufacturer of polypropylene honeycomb cores under the NidaCore brand, used across automotive, transportation, building, and packaging applications. Overlaps almost one-to-one with EconCore's PP honeycomb core offering and serves as the closest functional competitor in non-aerospace PP honeycomb.
- 3A Composites (AIREX / Baltek): Supplies AIREX and Baltek foam-core and balsa-core sandwich materials for transportation, wind, marine, and construction. Competes with EconCore in sandwich panel cores across wind, marine, and building/construction, particularly via its PET-based AIREX line.
Others
- ArcelorMittal: World's largest steel producer and EconCore's joint venture partner in SteelThermHex N.V. (formed 2006 with ArcelorMittal's research center OCAS). Relevant as an enabler and partner in steel-skinned sandwich panels rather than a direct competitor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
EconCore social profiles
Digital presenceEconCore financial estimates
Financial estimateRevenue estimate
Valuation estimate
EconCore leadership team
Management profileNumber of profiles
Profiles6 records
EconCore subsidiaries and ownership
Company hierarchySubsidiaries2 records
EconCore funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
EconCore M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about EconCore
What does EconCore do?
EconCore develops and licenses the patented ThermHex Technology for the continuous, in-line production of thermoplastic honeycomb sandwich materials, combining extrusion, vacuum forming, and folding operations into an automated high-volume process. It sells its technology and production machinery to industrial manufacturers and licenses the patented process for use in automotive, transportation, building & construction, solar/photovoltaic, aerospace, marine, packaging, furniture, and graphical applications. Through its subsidiary ThermHex Waben GmbH, EconCore also directly manufactures PP honeycomb cores and thermoplastic composite sandwich panels in Germany.
Is EconCore a public or private company?
EconCore is a private company. It is classified as venture growth investor backed and is currently operating.
When was EconCore founded?
EconCore was founded in 2005. It employs 11 to 50 people.
Where is EconCore based?
EconCore is headquartered in Leuven, Belgium, in the Europe region.
How does EconCore make money?
Two revenue lines are on record. Technology Licensing is the primary driver. The others are technology Sales.
Who are EconCore's main competitors?
Broad incumbents on record are Armacell, Gurit and Toray Advanced Composites. Direct peers are Corex Honeycomb, Hexcel Corporation, Plascore, Diab Group, Nidaplast (NidaCore) and 3A Composites (AIREX / Baltek). ArcelorMittal is listed as an others.
Does EconCore have an API?
No public API is recorded for EconCore.
What industry is EconCore in?
EconCore's product category is Composite Materials Technology. Its primary akta.pro industry code is IMANAHAK, Thermoforming Machinery & Automation, with a secondary code of IMANAHAL, Recycled & Sustainable Thermoformed Products (rPET/rPP, Bio-based). Its NAICS code is 326 and its SIC code is 3086.