Press release

Fortum and Taaleri invest in Chempolis

20 October 2016, 14:30 EEST


Fortum and Taaleri Kiertotalous Ky have today signed an agreement with
Chempolis Oy to invest in the company. The deal is part of a restructuring of
Chempolis Oy’s ownership and financing, in order to strengthen the balance
sheet and operations as well as open new growth areas.

Fortum will invest approximately EUR 6.4 million and Taaleri approximately EUR
4.0 million in the company. After the restructuring Fortum will become the
largest owner of Chempolis with approximately 34% of the shares and Taaleri
will own approximately 21% of the shares.

Fortum will also investigate the possibility to invest in a biorefinery pilot
plant based on the technology from Chempolis.

Chempolis is a Finnish biorefining technology company specialised in providing
innovative and sustainable carbon-neutral biorefining technologies for the
biomass, energy, oil, paper, alcohol, sugar and chemical industries.

“One of the four cornerstones of Fortum’s strategy launched in February is to
build new energy ventures. In the Technology and New Ventures unit we have been
looking at innovative technologies and start-ups, also in the biomass field,
because Fortum is a major user of biomass in the Nordic and Baltic regions,”
says Heli Antila, Fortum’s Chief Technology Officer.

“Chempolis is a very interesting company with promising technology and we want
to investigate the possibilities to invest in a commercial pilot plant
utilising their technology to increase the value of biomass,” says Heli Antila,
Fortum’s Chief Technology Officer,” she continues

“We are very happy to have strong partners with ambitious visions from solid
energy industry frontrunner Fortum and wealth management company Taaleri. Their
investment in our company creates strong confidence in us also in international
markets and enables multidimensional growth,” says Matti Sundberg, Chempolis’s
Chairman of the Board.

Fortum Corporation

Group Communications

Further information:

Heli Antila, Chief Technology Officer, Fortum, tel. +358 40 571 7188
Risto Sormunen, Senior Technology Manager, Fortum, tel. +358 50 453 4615


Chempolis Ltd is a technology leader delivering innovative carbon neutral 3G
formico® biorefining technologies that provide profitable, sustainable and
cost- and resource effective solutions for the biomass, energy, oil, sugar,
alcohol, chemical and paper industries to refine biomass into advanced
high-quality bio products while minimizing environmental impact and maximizing
social benefits.

Key figures for 2015:

- Sales: EUR 0.01 million
- EBITDA: EUR -2.2 million
- Personnel: 13

The largest owners in Chempolis are (as of 20 October 2016):

- Fortum Power and Heat Oy, approx. 34%
- The Rousu family, approx. 22%
- Taaleri Kiertotalous Ky, approx. 21%
- Juha Hulkko, approx. 10%
- Fortel Invest Oy, approx. 5%
- Windermere International, approx. 4%


Fortum's vision is to be the forerunner in clean energy. We provide our
customers with electricity, heat and cooling as well as other energy solutions
that improve present and future life. Already 64% of our electricity generation
is CO2 free. Our main markets are the Nordic and the Baltic countries, Russia,
Poland and India. In 2015, we employed some 8,000 energy sector professionals,
and our sales were EUR 3.5 billion. Fortum's share is listed on Nasdaq