Fortum invests in breakthrough solar technology manufacturer Exeger

Fortum’s Technology and New Ventures invests EUR 5,2 million in Exeger Sweden AB (Publ), a Swedish solar technology company. Exeger develops and produces novel printable solar cells for use in consumer electronics, on buildings and in other applications. The investment gives Fortum a 5% ownership in the company and aims to increase Exeger’s production capacity from 10 million to 15 million tablet-sized solar cells annually, preparing it for delivering full scale orders.

Exeger’s long-term strategy is to enter multiple solar markets, including consumer devices, smart homes, and building integration. The company’s solar cell technology excels in indoor illumination, is flexible and aesthetically superior to existing commercial technologies allowing Exeger to target the consumer electronics market for seamless integration into a variety of devices.

Exeger has entered into joint development agreements with some of the world’s most prominent electronic manufacturers to produce self-charging portable devices resulting in eternal battery life.

“The investment positions Fortum at the forefront of energy technology and application development, in line with its strategy. Exeger’s light-harvesting technology in consumer electronics is the most advanced in the market and can be applied in several fields of global interest,” says Anne Jalkala from the Technology and New Ventures unit.

“Fortum’s strategic investment is the last piece in our puzzle to prepare for our first global product launch. It will allow us to ramp up our production capacity even further in order to start accepting commercial orders in 2017,” says Exeger’s CEO Giovanni Fili.

One of the cornerstones in Fortum’s strategy is to build new energy ventures in order to accelerate innovation and commercialisation of new solutions, Fortum is strengthening its in-house focus on innovation and digitalisation, partnering with globally leading suppliers, cutting-edge technology companies and research institutions, as well as investing in startups with new innovations.

Further information:
Anne Jalkala, VP, Startup & Fund Investments, Fortum
tel. +358 40 1282 884

Gustav Röken, CFO, Exeger Sweden AB (Publ)
tel. +4670 428 7474

Exeger
Exeger produces the world’s best indoor solar cell. Apart from generating the most power, it integrates seamlessly into other products, is light-weight, and environmentally friendly. These characteristics make it ideal for consumer electronics, internet of things, building integration, and any other applications where there is a need for longer battery-life, getting rid of chargers or adding more functionality. Exeger is focusing on commercialization of the technology and releasing the first product in the consumer electronics market. Exeger’s goal is to become Sweden’s next high-tech industrial company. www.exeger.com

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

Press release in swedish found here