Cleantech Invest shifts to an independent board of directors as Matti Vuoria, Peter Carlsson and James Penney candidates to the new board

At the Annual General Meeting to be held on the 20th of April 2016 shareholders representing approximately 36.6 per cent of the company's shares and approximately 76.9 per cent of the votes will propose the above mentioned as new candidates to the board. The same shareholders propose that current members Lassi Noponen and Thomas Bengtsson be re-elected to the board.

The new candidates mark the transformation to a board where the majority are independent from the management of the company. The new candidates add significant international networks and experience from a wide range of industries in different stages.

Chairman of the Board Lassi Noponen: “Transforming into an independent board has been planned for some time and in connection to the Stockholm listing, we felt that the time was right. This improves the governance of our company and benefits our increasingly international shareholder base. We are delighted to have such an accomplished group of candidates to our board”.

The new candidates to the board comment as follows. Matti Vuoria: “I like the fact that Cleantech Invest portfolio consists of companies that do not rely on subsidies but that have a market based approach to solving environmental challenges. Cleantech Invest is an interesting Finnish growth company with a strong Nordic presence and a global growth strategy.” James Penney: “Having followed Cleantech Invest for many years, I am impressed that so many of the portfolio companies have such an exiting international outlook. I look forward to helping Cleantech Invest raise awareness of its portfolio companies amongst the London investor community.” Peter Carlsson: “I’m delighted to join the Cleantech board as I think its focus areas match with my own competence and interests.” 

CEO Bigge Lidgren: “I am really looking forward to working with and learning from these new board members. In Peter we get unique experience from Tesla, one of the fastest clean technology entrants ever into an established industry as well as new connections from Silicon Valley. James adds crucial knowledge and track record in institutional fund management and networks from one of the worlds biggest financial markets. Matti has for a long time been the CEO of one of Europe’s largest pension funds as well as at the heart of Finnish economy. He greatly complements our international networks.”

CV’s of new proposed candidates

Matti Vuoria

After a decade of service as the CEO of VARMA Mutual Pension Insurance Company Matti Vuoria retired in 2014. Currently he serves as the Chairman of the Board of building and construction company YIT Oyj. Matti Vuoria has a long career within the Finnish public administration where he served lastly as the Permanent Secretary of the Ministry of Trade and Industry during 1992-1998. He has been member of the Board in several major companies such as Stora Enso Oyj, Wartsilä Oyj, Sampo Oyj, Orion Oyj and Danisco (Denmark) as well as Nordic Investment Bank. He was the full-time Chairman of Fortum Oyj for five years during 1998-2003. Matti Vuoria is a member of the Swedish Academy of Engineering Sciences.

James Penney

James Penney is the Chairman of London based Darwin Property Investment Management Limited and chairs the Investment Committee. In 2015 Darwin Property Investment Management Limited was named ‘Alternative Investment Manager of the Year’ at European Pension Awards and ‘Alternatives Manager of the Year’ by LAPF Investment Awards. James Penney is also the owner and Managing Director of Darwin Consulting, a strategy consulting firm he co-founded in 1997. This firm provides strategic advice to directors and investors in a range of industries, including financial services, private equity and media. Prior to founding Darwin Consulting, James Penney had an academic career in e.g. undergraduate and doctoral studies at Trinity College, Cambridge, followed by six years as Principal Lecturer at Westminster College, Oxford. After Oxford, James Penney was a Sloan Fellow at London Business School from which he has a M.Sc. in Management Studies.

Peter Carlsson

Peter Carlsson is an angel investor, advisor and entrepreneur. He was the Vice President, Supply Chain of the world-renowned Electric Vehicle company Tesla Motors during 2011–2015. Peter held an instrumental role at Tesla Motors as the electric car manufacturer scaled operations dramatically during this period, including the launch of the highly successful Tesla Model S. Before that he has worked as the Senior Vice President & Chief Procurement Officer of NXP Semiconductors in Singapore during 2008-2011, as the Chief Procurement Officer of Sony-Ericsson as well as in various management positions in Sweden and in the United States. Peter Carlsson has a M.Sc. (Economics, Production & Quality Control) from Luleå Technical University.

Contact information:

Alexander Lidgren, Managing Director of Cleantech Invest Plc. Tel. 46 73 660 1007, alexander.lidgren@cleantechinvest.com

Access Partners Oy, Certified Advisor. Tel. 358 9 682 9500

Cleantech Invest in Brief

Cleantech Invest is a Nordic accelerator with investments in growth companies that solve global challenges. The portfolio companies are active in energy- and resource efficiency as well as decentralized renewable energy and are based in Finland, Sweden and Germany. The company management consists of company builders and investors who have been active within the cleantech space for over a decade.The company is listed on First North Finland under the ticker: CLEAN

www.cleantechinvest.com