Investments
7Portfolio Exits
11Partners & Customers
10Service Providers
1About Fortum
Fortum (Nasdaq Helsinki: FORTUM) is a clean-energy company focusing on the Nordic countries, Russia, and the Baltic Rim area. Its activities cover the generation, distribution, and sale of electricity and heat and the operation and maintenance of power plants. The company was founded in 1998 and is based in Espoo, Finland.
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Research containing Fortum
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CB Insights Intelligence Analysts have mentioned Fortum in 1 CB Insights research brief, most recently on Dec 7, 2021.
Latest Fortum News
Mar 27, 2023
03/27/2023 | 07:18am EDT Message : *Required fields Fortum and Metsä Group have launched a pre-feasibility study to examine the technological and business potential of further processing of wood-derived carbon dioxide. In line with its strategy, Fortum wants to drive decarbonisation and growth for Nordic industries by providing clean energy and CO2-free solutions to its customers. Wood-based carbon dioxide is a by-product of Metsä Group's production facilities. Fortum and Metsä Group are examining how hydrogen could be used to produce new clean raw material, for example for the chemical industry, through capture and further processing of wood-based carbon dioxide. "Fortum has a strong position in clean energy production and as a partner to the industry we want to find solutions to reduce carbon dioxide emissions. We aim to drive the development of clean hydrogen in the Nordics, leveraging our strong position in CO2 free energy. The Fortum and Metsä Group pre-feasibility study is a good example of cooperation where different industries serve each other by benefiting from each other's business expertise. The end result is a carbon neutral product for the customer," says Simon-Erik Ollus, Executive Vice President, Generation Division at Fortum. "Wood-based carbon dioxide from pulp mills or our other production units is an interesting and currently mostly unused raw material for various chemical industry products that replace fossil-based materials. The technology has developed and the possibilities for further processing of the recovered wood-based carbon dioxide have improved. Cooperation with Fortum opens up interesting development opportunities for Metsä Group," says Ilkka Hämälä, CEO of Metsä Group. The study will be completed by the end of 2023. Any decisions about investments will be made in due course. Fortum Newsdesk, newsdesk[at] fortum[dot] com, puh. +358 40 198 2843 Fortum and hydrogen Fortum has a strong position in clean energy production, and we strive to find solutions for our industrial customers to help decarbonise their operations. We want to drive the development of clean hydrogen in the Nordics together with our customers. We are actively exploring hydrogen concepts and business opportunities together with companies in the pulp and paper, steel, chemical and transport sectors, among others. Read more about Fortum and hydrogen from our website www.fortum.com/hydrogen Attachments
Fortum Investments
7 Investments
Fortum has made 7 investments. Their latest investment was in Infinited Fiber as part of their Series A on April 4, 2019.
Fortum Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
|---|---|---|---|---|---|---|
4/16/2019 | Series A | Infinited Fiber | $4.18M | Yes | 1 | |
2/1/2019 | Corporate Minority - P2P - II | |||||
6/26/2018 | Corporate Minority - P2P | |||||
12/1/2016 | Corporate Minority | |||||
9/4/2014 | Corporate Minority |
Date | 4/16/2019 | 2/1/2019 | 6/26/2018 | 12/1/2016 | 9/4/2014 |
|---|---|---|---|---|---|
Round | Series A | Corporate Minority - P2P - II | Corporate Minority - P2P | Corporate Minority | Corporate Minority |
Company | Infinited Fiber | ||||
Amount | $4.18M | ||||
New? | Yes | ||||
Co-Investors | |||||
Sources | 1 |
Fortum Portfolio Exits
11 Portfolio Exits
Fortum has 11 portfolio exits. Their latest portfolio exit was PlugSurfing on September 01, 2022.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
|---|---|---|---|---|---|
9/1/2022 | Acquired - II | 2 | |||
3/22/2022 | Divestiture | Fortum - Oslo Varme | 1 | ||
7/1/2021 | Shareholder Liquidity | Stockholm Exergi | 1 | ||
Date | 9/1/2022 | 3/22/2022 | 7/1/2021 | ||
|---|---|---|---|---|---|
Exit | Acquired - II | Divestiture | Shareholder Liquidity | ||
Companies | Fortum - Oslo Varme | Stockholm Exergi | |||
Valuation | |||||
Acquirer | |||||
Sources | 2 | 1 | 1 |
Fortum Acquisitions
10 Acquisitions
Fortum acquired 10 companies. Their latest acquisition was Cristolteq on January 16, 2020.
Date | Investment Stage | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Total Funding | Note | Sources |
|---|---|---|---|---|---|---|
1/16/2020 | Acquired | 1 | ||||
10/8/2019 | Corporate Majority - P2P | 1 | ||||
3/6/2018 | Other | Acquired | 3 | |||
5/18/2017 | ||||||
10/20/2016 |
Date | 1/16/2020 | 10/8/2019 | 3/6/2018 | 5/18/2017 | 10/20/2016 |
|---|---|---|---|---|---|
Investment Stage | Other | ||||
Companies | |||||
Valuation | |||||
Total Funding | |||||
Note | Acquired | Corporate Majority - P2P | Acquired | ||
Sources | 1 | 1 | 3 |
Fortum Partners & Customers
10 Partners and customers
Fortum has 10 strategic partners and customers. Fortum recently partnered with Rolls-Royce on March 3, 2023.
Date | Type | Business Partner | Country | News Snippet | Sources |
|---|---|---|---|---|---|
3/21/2023 | Partner | United Kingdom | Fortum and Rolls-Royce SMR to explore joint opportunities for SMR's in Finland and Sweden `` Fortum Corporation is happy to start a collaboration with Rolls-Royce which is one of the forerunners in the small modular reactor industry . | 4 | |
3/20/2023 | Partner | United States | ZeroAvia and Fortum ink Nordic zero emission aviation partnership The prospect of a zero-emission aviation industry took another step forward today , with news from aviation firm ZeroAvia that it is partnering with Nordic energy company Fortum to explore how to provide a network of zero emission routes across the region . | 1 | |
12/8/2022 | Partner | France | Fortum and EDF sign Framework Cooperation Agreement to explore joint opportunities in new nuclear `` EDF is delighted to join forces with Fortum Corporation , a leading nuclear industry player sharing with us the same ambitions for a sustainable carbon free energy future . | 2 | |
11/25/2022 | Partner | ||||
11/22/2022 | Vendor |
Date | 3/21/2023 | 3/20/2023 | 12/8/2022 | 11/25/2022 | 11/22/2022 |
|---|---|---|---|---|---|
Type | Partner | Partner | Partner | Partner | Vendor |
Business Partner | |||||
Country | United Kingdom | United States | France | ||
News Snippet | Fortum and Rolls-Royce SMR to explore joint opportunities for SMR's in Finland and Sweden `` Fortum Corporation is happy to start a collaboration with Rolls-Royce which is one of the forerunners in the small modular reactor industry . | ZeroAvia and Fortum ink Nordic zero emission aviation partnership The prospect of a zero-emission aviation industry took another step forward today , with news from aviation firm ZeroAvia that it is partnering with Nordic energy company Fortum to explore how to provide a network of zero emission routes across the region . | Fortum and EDF sign Framework Cooperation Agreement to explore joint opportunities in new nuclear `` EDF is delighted to join forces with Fortum Corporation , a leading nuclear industry player sharing with us the same ambitions for a sustainable carbon free energy future . | ||
Sources | 4 | 1 | 2 |
Fortum Service Providers
1 Service Provider
Fortum has 1 service provider relationship
Service Provider | Associated Rounds | Provider Type | Service Type |
|---|---|---|---|
Corporate Majority - P2P | Investment Bank | Financial Advisor |
Service Provider | |
|---|---|
Associated Rounds | Corporate Majority - P2P |
Provider Type | Investment Bank |
Service Type | Financial Advisor |
Partnership data by VentureSource
Fortum Team
11 Team Members
Fortum has 11 team members, including current Chief Executive Officer, Markus Rauramo.
Name | Work History | Title | Status |
|---|---|---|---|
Markus Rauramo | Chief Executive Officer | Current | |
Name | Markus Rauramo | ||||
|---|---|---|---|---|---|
Work History | |||||
Title | Chief Executive Officer | ||||
Status | Current |
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