Fortum and Taaleri invest in Chempolis

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



www.fortum.com



Chempolis



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



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

Helsinki. www.fortum.com