Cleantech Invest and Fortum sign an agreement on strategic partnership

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18.11.2014 07:30:00 CET

Cleantech Invest and Fortum sign an agreement on strategic partnership

Cleantech Invest Plc
Company Release 18 November 2014 at 8.30 am (EET)

Cleantech Invest and Fortum sign an agreement on strategic partnership

Cleantech Invest Plc and Fortum Corporation have signed an agreement on strategic 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 of Cleantech Invest’s portfolio companies. According to the agreement, the contacts and cooperation between Cleantech Invest’s portfolio companies and Fortum will be increased. Fortum may for example conduct portfolio companies’ proof of concept testing in its power plants and, eventually, by customers. Fortum may also distribute or use products and services of the portfolio companies. It can further become a distribution channel for the portfolio companies’ products and services. The agreement also covers sharing of market information, energy consumption data, and technology development.

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.”

”As a part of Fortum’s R&D activities, we have high ambition level for new cleantech demonstrations to improve our current businesses and create also new growth opportunities. Cleantech Invest, as a very well-known Finnish investor among early phase cleantech companies, creates natural opportunity for beneficial co-operation in our core market areas”, says Heli Antila, Fortum’s Chief Technology Officer.

CLEANTECH INVEST PLC

Further information:
Cleantech Invest Plc.: Lassi Noponen, Chairman of the Board, tel. +358 40 5015127, lassi.noponen@cleantechinvest.com

Fortum Corporation: Mikko Huumo, Manager, Growth Projects, tel. +358 50 3123 935, mikko.huumo@fortum.com

Certified Advisor of Cleantech Invest Plc.: Access Partners Oy, tel. +358 9 6829 500.

Cleantech Invest in brief
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 and 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.

Fortum in brief
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/fi.