Pontos and AMK-Holding take majority in Enfucell, new Chairman and board appointed

Friday, 04 March 2011 10:29 Attention: open in a new window.

Due to major changes in Enfucell's shareholders structure the composition of the Board was changed in the annual shareholders meeting on March 3, 2011. The new members are Mr. Juha Kokkila, who was also appointed as the new Chairman, and Mr. Markku Kaloniemi. Mr. Antti Kivimaa remains from the old board.

Juha Kokkila M.Sc. (Civ. Eng.) is a board professional and Chairman of AMK-Holding Oy, a private investment company in Espoo, Finland. For 13 years he was CEO and Chairman of CMC-Group Oy, a subsidiary of AMK-Holding Oy until the company was acquired by Pöyry Group Plc in 2005. CMC-Group was a significant construction management company in Finland and the Baltic States. Besides his responsibility at Enfucell, Juha is Chairman of the Board of GSP Group Oy and a member of the Board of Bodim Port Oy (Body Shop in Finland and the Baltics).

Mr. Markku Kaloniemi, M. Sc. (Econ.), is a fund manager of Fim Forte, Fim Mondo and Fim Fenno investment funds at FIM Asset management Ltd. Markku has been in the banking industry since 1987 and is also a private investor. In addition to Enfucell, he is also a board member of FIM Group Ltd. and Vivago Ltd.

Antti Kivimaa M.Sc. (Eng.), B. Sc. (Econ) is a private investor and a board professional, and has served on the Enfucell board since June 2007, serving also as Chairman in 2009-2011. He is also a Senior Adviser at the VTT Technical Research Centre of Finland. Until 2009 he served Ruukki Group Plc, an industrial company listed in the Nordic OMX, as CEO and Executive VP since 2004. He has previously worked in senior and executive positions in several Finnish companies, ie. Sanoma Corporation, Janton Plc., E. Ahlström Ltd. and Sponsor Ltd. Antti has also served as Chairman of the Boards of Esmerk Group and FIM Banking Group Plc.

"We see great potential in Enfucell and understand the need of entrepreneurial ownership as the company faces challenges in becoming a real player in the global printed electronics industry", says Mr. Kai Becker, CEO of Pontos Oy, a privately owned investment company that focuses on private equity investments and real estate development in Finland, the Baltic States, Russia and selected other CIS countries.

Enfucell Oy

With main focus on printed electronics, Enfucell Oy is a Vantaa, Finland based technology company with its roots in the Helsinki University of Technology, today known as the Aalto University School of Science and Technology. Enfucell has developed SoftBattery®, a thin, flexible 1.5 - 6 V environmentally friendly power source optimally utilized in disposable and short lifetime products. SoftBattery® applications include RFID, micro sensors, displays, OLED, functional packaging, cosmetic and pharmaceutical transdermal delivery systems, and Enfucell's customers and partners include many of world's largest corporations in their fields.

Earlier Enfucell's SoftBattery® technology has been recognized as The Technology Pioneer 2007 by World Economic Forum, The Red Herring 100 Europe in 2007 and The Guardian European Cleantech100 in 2008. In addition, Dr. Xia-Chang Zhang, CTO of Enfucell was appointed as one of ten most influential Chinese in the world in 2007, and nominated as an honorary professor of the East China University of Science and Technology.

Enfucell was founded in 2002 and employs ca. ten people, having also a presence in the United States and France. The main shareholders are Pontos Oy and AMK-Holding Oy, holding the majority together. Other shareholders consist of Vera Venture Ltd, a Finnish governmental venture fund, Varma Mutual Pension Insurance Co., and ca. 10 private shareholders, including Dr. Zhang, a co-founder of Enfucell and the developer of SoftBattery technology. Enfucell is also financially supported by Tekes, The Finnish Funding Agency for Technology and Innovation. In total Enfucell has raised ca. 7 million Euros by February 2011.

For further information, please contact:

Juha Kokkila, Chairman, email: juha.kokkila(at)amkh.fi, mob. +358 400 456 597

Marko Hanhikorpi, CEO, email: marko.hanhikorpi(at)enfucell.com, mob. +358 40 549 0078

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