Cleantech Invest: Follow-on investment into Oricane AB

News

19.12.2014 07:30:00 CET

Cleantech Invest: Follow-on investment into Oricane AB

Cleantech Invest Plc
Company Release, 19 December 2014 at 8.30 am (EET)

Cleantech Invest: Follow-on investment into Oricane AB

Cleantech Invest Plc has made a follow-on investment into its Swedish portfolio company Oricane AB, whereby the ownership of Cleantech Invest in the company increases to 21.2%. The investment is part of an investment round, which included in addition to Cleantech Invest also Swedish Norrlandsfonden and private investors.

The algorithms developed by Oricane can multiply the capacity and energy efficiency of Internet hardware. Oricane’s algorithm-based SW product addresses the requirements of very large table sizes at a fraction of the power consumption of traditional applications. Oricane’s technology can also be applied in big data centers to increase system speed and to cut energy costs.

Lassi Noponen, Chairman of the Board at Cleantech Invest: ”Oricane’s focus is currently on products optimizing Internet routers. The biggest market potential for Oricane’s technology is however in data mining solutions, and expansion into this market is further down in Oricane’s roadmap.”

CLEANTECH INVEST PLC

Further information:
Lassi Noponen, Chairman of the Board at Cleantech Invest Plc, tel. +358 40 501 5127, lassi.noponen@cleantechinvest.com

Certified Advisor 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.