Fortum Corporation and Cleantech Invest Plc have signed an agreement on partnership with regard to business development activities, potential future cleantech investments as well as information sharing.
The agreement is aimed at creating new business opportunities for Fortum and accelerating growth and value creation for Cleantech Invest’s portfolio companies. According to the agreement, contacts and cooperation between Cleantech Invest’s portfolio companies and Fortum will be increased. As an example Fortum may conduct portfolio companies' proof of concept testing in its power plants and among its customers. The agreement also covers sharing of energy sector information and technology development.
"As part of Fortum's R&D activities, we have a high ambition level for new cleantech demonstrations to improve our current businesses and also to create new growth opportunities. Cleantech Invest, a very well-known Finnish investor among early phase cleantech companies, creates natural opportunities for beneficial co-operation in our core market areas" says Heli Antila, Fortum's Chief Technology Officer.
Lassi Noponen, Chairman of the Board at Cleantech Invest comments: ”Launching this strategic partnership with Fortum is a milestone, and a great joy to us. Fortum has signaled that it wants to be in the forefront of utilizing clean energy technologies and energy efficiency solutions. For us this means that our portfolio companies can get not only a breeding ground for their current business ideas but even a window into the challenges of the energy company of tomorrow, which is highly valuable for their development. We trust that this partnership will result in material benefits for us both in the near future.”
For additional information, please contact:
Mikko Huumo, Manager, Growth Projects, Fortum Oyj, tel, +358 50 3123 935 firstname.lastname@example.org
Lassi Noponen, Chairman of the Board at Cleantech Invest Plc., tel. +358 40 5015127, email@example.com
Fortum’s purpose is to create energy that improves life for present and future generations. Catering to the versatile needs of its customers, Fortum generates, distributes and sells electricity and heat, and offers related expert services. Fortum’s operations focus on the Nordic and Baltic countries, Russia and Poland. In 2013, the sales of Fortum amounted to EUR 6.1 billion with the comparable operating profit of EUR 1.6 billion. Fortum Group employs approx. 8,800 persons. Fortum’s shares are quoted on NASDAQ OMX Helsinki. www.fortum.com
Cleantech Invest focuses on clean energy and efficient use of natural resources. The company owns minorities in a diversified portfolio of companies and is actively looking for new capital light, high impact businesses within the cleantech universe. Cleantech Invest invests in the most promising early-stage and growth cleantech companies in Finland, Sweden and in the Baltic Sea area. The company management team members are international pioneers in cleantech investing. Cleantech Invest is also a designated Accelerator in the Vigo Program initiated by the Ministry of Employment and the Economy. www.cleantechinvest.com