April 7, 2020
DAILY BRIEF: Waste to renewable energy, AI in education, networks and cybersecurity
New Nordic School has raised 2.5 million euros in seed funding.
New Nordic School
All the daily Finnish business news that works: New Nordic School, Nokia, SSH.COM, and Ductor make headlines.
New Nordic School raises funds for a hybrid education system, Nokia‘s solution is selected by the Polish energy sector, SSH.COM secures OCBC Bank’s IT infrastructure, and Ductor builds innovative biogas plants in Poland.
Nokia’s proof of concept (PoC) network for the world’s first 450MHz private wireless network for power grid operators is to be deployed by PGE Systemy, a leading energy company in Poland. PGE Systemy will use the PoC infrastructure to further develop its concept of a country-wide critical communications network. This is the critical first step in evaluating the use of the 450MHz band in the operations of energy distribution operators across Poland. The band is being adopted for smart grid applications across Europe.
Finnish cybersecurity company SSH.COM will provide several of its products to secure the mission-critical IT infrastructure of to OCBC Bank. The Singapore-headquartered bank is one of the largest in Southeast Asia and is consistently ranked among the top 50 safest banks in the world by the Global Finance magazine. Worth several hundreds of thousands, the agreement covers licenses, support services and multi-year subscriptions for various SSH.COM products, including Tectia Client/Server and PrivX.
Finnish-Swiss biotechnology company Ductor will build three combined biofertiliser and biogas plants in northwestern Poland. The plants will exclusively use poultry waste to create both renewable energy and organic nitrogen fertiliser, thus enabling significant reductions in greenhouse gas emissions. Two of the new plants will have an installed capacity of 0.5 megawatts and the third one megawatt. The three plants will use 50 000 tonnes, or around one per cent, of the total poultry manure produced in Poland annually. Ductor also has more such projects in the pipeline in Poland, Europe and the Americas.
New Nordic School raises EUR 2.5 million
Finnish company New Nordic School has raised 2.5 million euros in seed funding consisting of 1.3 million euros from international angel investors and 1.2 million euros from other instruments. New Nordic School aims to use the funding to introduce artificial intelligence (AI) to the education system and expand in its main target markets of Southeast Asia, the Middle East and India. The company has developed a fully scalable K-12 education system that, while based on the Finnish curriculum, incorporates proven pedagogical practices from around the world and uses AI to provide insights to teachers to better educate pupils.
New Nordic School
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