Finnish cleantech companies attract investment

Moventas and Beneq, winners in the 2011 Later Stage Awards, have been targeted by Clyde Blowers and RUSNANO.

The Finnish cleantech companies Moventas and Beneq, both “Best in Class” winners in the 2011 Later Stage Awards, have attracted the interest of international investors. Moventas, winner in the “Best of Wind” class, was acquired by the global engineering group Clyde Blowers in a deal worth EUR 100 million. Moventas is now one of the world’s leading industrial and wind gear manufacturers, providing power transmission solutions to the wind energy, pulp and paper, and mining industries. Moventas has some 950 employees in 13 countries and a worldwide partner network.


Beneq, winner in the “Best of Advanced Materials” class, was targeted with a EUR 25 million capital injection and share purchase by the Russian state corporation RUSNANO which now owns 40% of the company. Beneq is a leading supplier of production and research equipment for thin film ALD and aerosol coatings, as well as the world’s premier manufacturer of thin film electroluminescent (TFEL) displays.


Cleantech Venture Days


In total, the 10 cleantech companies that were awarded their “Best in Class” distinctions at the 2011 Global Cleantech Cluster Association Later Stage Awards, have collectively secured USD 462.24 million in funding and project contracts, with additional funding undisclosed. The 2011 Later Stage Awards were the inaugural year for the contest. It featured 185 nominations from 36 GCCA member clusters.


Lahti Development Company LADEC Ltd is organising two Cleantech Venture Days this year where international investors can meet Finnish cleantech companies. The first event will be held on 28-29 May in Malmö, Sweden, and the second in November in Lahti, Finland.


Sources: Global Cleantech Cluster Association, Moventas, Beneq, LADEC