Technology company Donut Lab, specialising in electrification solutions for the automotive industry, has made a strategic investment in Nordic Nano Group. Nordic Nano is a Finnish developer of environmentally friendly nanotechnology solutions for solar energy, energy storage and hydrogen production. The investment marks a deepening partnership between the two companies and brings Nordic Nano into Donut Lab’s international technology cluster focused on electric mobility. As part of the collaboration, Donut Lab founding partner and CEO Marko Lehtimäki will join the board of Nordic Nano.
The strategic partnership strengthens the position of Finnish innovation and technology expertise in the international automotive industry. Donut Lab and Nordic Nano have already been working together for some time, including during Nordic Nano’s earlier seed funding round.
“This new investment further deepens our collaboration and supports the scaling of Nordic Nano’s operations. We are convinced of the international market potential of their unique technologies. Nordic Nano’s strong expertise and technological edge also provide new opportunities for advancing our own product strategy,” says Marko Lehtimäki, CEO of Donut Lab.
Donut Lab develops and manufactures a modular technology platform designed to revolutionise the speed and performance of electric vehicle development across land, sea and air. The company drew attention from major vehicle manufacturers after launching the world’s most powerful electric motor product line at CES in Las Vegas in January.
Sustainable Energy Without Compromise
Both Donut Lab and Nordic Nano share a commitment to electric innovation and top-tier performance. Donut Lab’s cluster-based approach to electric mobility envisions a future built on interconnected, mutually reinforcing technologies. Nordic Nano’s solutions directly support this vision, with a focus on solar energy, energy storage and hydrogen technologies – areas where global demand has surged due to the accelerating clean energy transition.
“For over a decade, the energy sector has been searching for smarter ways to harvest solar energy and store large amounts of energy more affordably without relying on rare earth materials or costly production processes. Most projects have failed due to excessive compromises in key performance areas or technologies that have not worked outside the lab. Nordic Nano’s advanced technology has proven effective in real-world conditions, and the company has a clear, sustainable plan for scaling production. These competitive advantages sealed our decision to invest, alongside a shared vision for building a more sustainable future,” explains Ville Piippo, CTO of Donut Lab.
Traditional energy technologies often depend on rare earth elements and environmentally harmful materials. In contrast, Nordic Nano’s sustainable innovations provide a green alternative distinguished by high performance and availability. The company is currently investing heavily in product development, research, testing and strategic partnerships to deliver scalable and responsible energy solutions to the market.
“Nanotechnology holds significant potential in global markets. This new investment and our strong cooperation with Donut Lab will accelerate the development of our battery technology and support our goal of creating advanced, sustainable solutions. We are pleased to welcome Marko Lehtimäki to our board and Donut Lab as an investor,” says Esa Parjanen, CEO of Nordic Nano.
The parties have agreed not to disclose the total value of the investment.
In the picture from left to right: Mattipekka Kronqvist, CTO of Nordic Nano, Esa Parjanen, CEO of Nordic Nano, Jarkko Aro, Member of the Board of Nordic Nano, Marko Lehtimäki, CEO of Donut Lab, Jarmo Palukka, Member of the Board of Nordic Nano, Ville Piippo, CTO of Donut Lab and Lauri Peltola, Commercial Director of Nordic Nano.