Fortum

Fortum is a Finnish energy company focused on generating and providing clean energy solutions to facilitate the decarbonization of various industries. It operates power plants that utilize renewable energy sources, including hydro, nuclear, and solar power, to deliver electricity, heating, and cooling services primarily in the Nordic and Baltic regions, as well as in Russia, Poland, and India. Fortum's main divisions encompass generation, which involves large-scale power production, and city solutions that offer sustainable energy alternatives. Additionally, the company invests in technology and new ventures, emphasizing research and development and supporting startups. With a commitment to delivering CO2-free energy and sustainable solutions, Fortum aims to meet the energy needs of residential and commercial users while contributing to a greener future.

Alexander Chuvaev

Executive Vice President

Kari Kautinen

Senior Vice President

Per Langer

Senior Vice President

Risto Penttinen

Senior Vice President, Strategy, People and Performance and Member of the Executive Management Team

Arto Raty

Senior Vice President

8 past transactions

Orange Polska

Acquisition in 2025
Orange Polska is a leading telecommunications provider in Poland, offering a wide range of services that include mobile and fixed telephony, internet access, data transmission, and television. As the only operator in the country to provide comprehensive telecommunications solutions, Orange Polska serves both residential and business clients. The company also offers IT and integration services, leased lines, and various telecommunications value-added services, alongside the sale of telecommunications equipment and the construction of telecommunications infrastructure. A significant portion of its revenue is generated from mobile services, reflecting its strong position in the mobile market. In addition to these services, Orange Polska has diversified its offerings to include the sale of electrical energy, further enhancing its role as a key player in the telecommunications landscape.

Telge Energi

Acquisition in 2023
Telge Energi is an independent electricity trading company based in Södertälje, Sweden, specializing in the supply of renewable energy. The company sources its electricity from solar, wind, and hydropower, emphasizing sustainable practices in its operations. Telge Energi is committed to promoting environmentally friendly energy solutions, investing in electricity certified as Good Environmental Choice, and advocating for sustainable hydropower initiatives. Through its focus on renewable resources, Telge Energi aims to contribute to a more sustainable energy landscape in Sweden.

Uniper

Post in 2022
Uniper is an international energy company headquartered in Düsseldorf, Germany, with approximately 11,000 employees. Established on January 1, 2016, following the separation of E.ON's fossil fuel assets, Uniper focuses on energy generation and trading. The company operates through three main segments: European Generation, Global Commodities, and Russian Power Generation. The European Generation segment encompasses a diverse portfolio, including coal, gas, oil, and combined heat and power plants, as well as hydroelectric, nuclear, biomass, and renewable energy facilities. The Global Commodities segment centralizes the company's energy trading activities, while the Russian Power Generation segment oversees its power generation operations within Russia. Through its integrated approach, Uniper combines advanced technology and expertise to meet the evolving needs of the energy market.

PlugSurfing

Acquisition in 2018
PlugSurfing GmbH is a Berlin-based company founded in 2012 that specializes in a mobile application designed for electric vehicle (EV) drivers. The app allows users to locate public charging points across Germany, the Netherlands, Luxembourg, Austria, and other regions in Europe, streamlining the charging process by enabling payments directly through the smartphone. By addressing the challenge of fragmented charging networks, PlugSurfing eliminates the need for multiple RFID cards, allowing drivers to access various charging stations with a single, convenient tool. The application provides essential information such as charging costs, speed, and availability of charging points, enhancing the overall user experience for EV drivers. As of March 2018, PlugSurfing operates as a subsidiary of Fortum Charge & Drive.

Uniper

Post in 2018
Uniper is an international energy company headquartered in Düsseldorf, Germany, with approximately 11,000 employees. Established on January 1, 2016, following the separation of E.ON's fossil fuel assets, Uniper focuses on energy generation and trading. The company operates through three main segments: European Generation, Global Commodities, and Russian Power Generation. The European Generation segment encompasses a diverse portfolio, including coal, gas, oil, and combined heat and power plants, as well as hydroelectric, nuclear, biomass, and renewable energy facilities. The Global Commodities segment centralizes the company's energy trading activities, while the Russian Power Generation segment oversees its power generation operations within Russia. Through its integrated approach, Uniper combines advanced technology and expertise to meet the evolving needs of the energy market.

Ekokem Corp

Acquisition in 2016
Ekokem Corp is a provider of environmental management and material efficiency services in Finland and internationally.

Wello

Corporate Round in 2014
Wello Oy is a Finnish company specializing in the manufacture of wave energy converters, specifically the Penguin Core, which encompasses design, licensing, control software, and expertise for developing scalable wave parks. Founded in 2008 and based in Espoo, Wello's innovative Penguin wave energy converter captures energy from ocean waves using a unique design that enables it to respond dynamically to wave movements. The asymmetrical hull of the Penguin creates a gyrating motion that directly drives a generator, eliminating the need for mechanical or hydraulic gears and enhancing efficiency. Wello aims to provide ecological and commercially viable solutions for harnessing renewable energy from the sea, making low-cost energy accessible for various applications.

AW-Energy

Series A in 2004
The company develops and delivers technology for converting ocean waves to electricity. AW-Energy has developed WaveRoller - a fully submerged wave energy converter which utilizes wave surge phenomenon. This commonplace effect is observed in near-shore waters where the circular motion of water particles present in open sea waves changes into elliptical circulation due to more shallow bottom. Before the waves break, typically at the depth of 8-20 metres this elliptical motion is so flat that it is essentially a horizontal back-and-forth movement of water. WaveRoller device is a Panel anchored at its base on the sea bed. The back and forth movement of the wave surge moves the Panel, transferring the kinetic energy to piston pumps. The pumps create a great deal of pressure which is fed into a combination of hydraulic motor/generator, which in turn produces electricity. The nominal capacity of a single commercial-scale Panel ranges between 500 – 1000 kW, depending on the wave resources available on the site. WaveRoller has the ability to generate energy on a wide spectrum of wave states and is also well suited for locations where wave periods are long and the swell is strong. A series of WaveRoller devices can be combined into an array, thus resulting in a wave farm. Since the plant construction is modular with a high degree of independence between individual units, there is no natural upper limit to the number of WaveRoller units that can be used, therefore offering a high level of scalability and reliability. The electricity output from an individual Panel is connected to a hub/substation, thus making it easy to plug-in new units in separate project development stages, as the new capacity is added to the farm. Also, any potential underperformance or service & maintenance breaks of individual units have no impact on the remaining units, thus ensuring uninterrupted power output from the overall farm. The first prototypes were designed and patent applications were filed as early as in 1999, when Rauno Koivusaari, the original inventor co-operated with Fortum Research Centre during the conceptual phase. Since then the technology has evolved following numerous laboratory and wave-tank test trials and ongoing mathematical simulations. Open sea trails started in 2004 and included the Gulf of Finland, marine tests conducted in the European Marine Energy Centre (EMEC), Scotland, and an own testing site in Peniche, Portugal. The subsequent successes and encouraging test results led to continuous increase in the scale of the demonstration plant. The latest demonstration plant/farm consisting of three 100kW WaveRoller units (total nominal capacity of the farm 300kW) is to be deployed in Peniche, Portugal, during the second quarter of 2012. The final assembly is nearing completion in the first quarter of 2012 and will be awaiting suitable weather conditions for the deployment in the following months. The farm will be connected to national grid in Portugal. The company has already secured all the necessary permits and, additionally, holds a licence for 1MW grid connection.
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