Nanotechnology company Picodeon Ltd Oy has received an equity investment of EUR 2.5 million from the British investment company Enso Ventures Ltd. Following the recent investment round, Enso’s investments in Picodeon now total approximately EUR 5 million.
In addition to the investment from Enso Ventures, the company launched in June a project funded by Tekes, valued at more than EUR 1 million.
Located at the Technology centre Micropolis in Ii, northern Finland, Picodeon develops thin-film coatings and equipment. According to the company, this latest investment will facilitate product development and the commercialisation of inventions. Picodeon holds 18 patents globally and has close to a hundred patents pending.
The coating solutions patented by the company can be utilised in the semiconductor industry and health technology, for example.
— We will continue focusing on the productisation and commercialisation of inventions. From a business viewpoint, it was vital for us to find an owner who sees long-term opportunities in our operations and is committed to consistently developing the company, says Picodeon’s CEO Marko Mylläri.
Mylläri also says that the plan for next year is already being prepared. The company has set its sights on an investment from Enso Ventures for application and equipment development and international distribution. However, this investment will be decided upon later.
A new automated coating line will be completed next January, representing a two-million-euro investment for Picodeon. The new equipment will enable mass production of the coatings developed by the company.
The Norwegian company Scatec has previously invested in Picodeon and is still a minor shareholder in the company.
Article is published in cooperation with Good News from Finland.
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