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Fortum and Taaleri to invest in Chempolis

Fortum and Taaleri Kiertotalous Ky sign agreement with biorefining technology developer Chempolis to invest in the company. Fortum to investigate the possibility of a commercial biorefinery pilot investment.

Finnish biorefining technology developer Chempolis Oy has announced that has signed an agreement with Fortum, a Finland-headed energy major and Taaleri Kiertotalous Ky, a subsidiary of Finnish finance and investment group Taaleri, whereby Fortum and Taaleri will invest in Chempolis. 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.

According to a statement, Fortum will invest approximately EUR 6.4 million and Taaleri approximately EUR 4.0 million in Chempolis. After the restructuring Fortum will become the largest shareholder of Chempolis with approximately 34 percent of the shares and Taaleri will own approximately 21 percent of the shares.

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

Commercial biorefinery pilot?

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

– 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. 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, said Heli Antila, Chief Technology Officer at Fortum.

Chempolis owns and operates a third-generation R&D cellulosic ethanol biorefinery adjacent to its headquarters in Oulu, northern Finland. It also has a subsidiary in Shanghai, China (photo courtesy Chempolis).

Chempolis owns and operates a third-generation R&D cellulosic ethanol biorefinery adjacent to its headquarters in Oulu, northern Finland. It also has a subsidiary in Shanghai, China (photo courtesy Chempolis).

5533/AS

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