Espoo, Finland: Clean energy company, Fortum has announced that its business division, Technology and New Ventures has invested EUR 5.2 million in Exeger Sweden AB, a Swedish solar technology company. According to the announcement, Exeger develops and produces printable solar cells for use in consumer electronics, on buildings and in other applications. The investment, the announcement added, gives Fortum a five per cent ownership in the company.

Fortum said that its strategy is to build new energy ventures by strengthening its in-house focus on innovation and digitalisation, partnering with globally leading suppliers, promising technology companies and research institutions, as well as making direct and indirect investments in start-ups with encouraging new innovations.

“In the coming years, we will invest EUR 100–200 million in the most promising startups and funds,” said Anne Jalkala from the Fortum’s Technology and New Ventures unit. “This investment implements Fortum’s strategy to be in the forefront of energy technology and application development. Exeger’s light-harvesting technology in consumer electronics is the most advanced in the market and can be applied in several fields of global interest.”

Giovanni Fili, CEO of Exeger, added: “Fortum’s strategic investment is the last piece in our puzzle to prepare for our first global product launch. It will allow us to ramp up our production capacity even further in order to start accepting commercial orders in 2017.”