October 9, 2019
The daily brief: 9 October 2019
Spinnova is moving onto the commercialisation phase of the world's most sustainable textile fibre.
All the daily Finnish business news that works: Spinnova, 9Solutions, Nivos Energia and Etteplan make headlines.
Spinnova is heading for commercialisation with fresh capital, Nivos Energia and Vattenfall strike an electricity deal in Finland, 9Solutions has received funding for its international expansion, and Etteplan is acquiring Teknifo in Sweden.
Finnish technology startup 9Solutions has received an additional 1.7 million euros from its owners Oulun Osuuspankki (OP) and Nordic Option. Focused on the growing care segment in Finland and abroad, 9Solutions will use the funding to build up its international operations. The Oulu-based startup is among Finland’s fastest growing companies, with over 1 100 hospitals, care homes and home care providers using its smart care solutions.
Spinnova is set to move on to the commercialisation phase of its sustainable fibre technology partners after receiving 11 million euros in funding from existing investors. The Finnish technology company aims to revolutionise the raw material base of the textile industry with its sustainable method for creating fibre from cellulose without any harmful chemicals, waste or side streams. Its pilot factory is already fully operational and producing fibre for textile industry partners.
Finnish energy company Nivos Energia has signed an electricity and partnership agreement with Swedish state-owned power company Vattenfall. The deal is Vattenfall’s first partnership in the Finnish energy segment and offers both companies an opportunity to grow and share knowledge. Nivos Energia has been operating in the Finnish energy market since 1926 and currently serves approximately 20 000 customers, while Vattenfall has grown to become the third-largest electricity supplier in Finland since it entered the market in 1996.
Finnish engineering services company Etteplan will continue its expansion in Sweden by acquiring Teknifo, a company focused on technical product documentation. The move marks Etteplan’s fourth corporate acquisition this year and further strengthens its position in Sweden, where it currently operates in 18 locations and employs some 650 engineering experts.
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