FORTUM CORPORATION PRESS RELEASE 20 OCTOBER 2016 AT 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
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
