Nordic Nano receives €2.98 million in business development aid for the acquisition of production equipment in Imatra. The public funding complements previously secured private financing and enables the launch of operations.
The funding was granted through Häme Centre for Economic Development, Transport and the Environment as part of the European Union’s Just Transition Fund (JTF), which supports the green transition and regional structural change. Earlier this summer, the company announced it had strengthened its strategic partnership with Donut Lab, a technology firm specialising in the electrification of the automotive industry. This collaboration enabled Nordic Nano to secure significant private funding. Combined with the newly granted JTF funding, the company’s overall financial base has expanded substantially.
Our financial situation is now on solid footing at this stage of our operations. Actions aimed at launching production are progressing rapidly. The investment support granted now is a key enabler of the project. Without it, we might not have been able to carry out this phase on the current schedule. We would like to thank the ELY Centre for its support, which is an excellent example of how public investment aid can accelerate sustainable growth and create new jobs,” says Nordic Nano CEO Esa Parjanen.
Mayor of Imatra, Matias Hildén, welcomes the confirmation of Nordic Nano’s investments. “The closure of the eastern border has affected the Imatra region in many ways. It is symbolically significant that the company is moving into premises that were left vacant following the decline in Russian tourism.” says Hildén.
YLE News – The Finnish Broadcasting Company (In Finnish): https://yle.fi/a/74-20180376
Nordic Nano press release (In Finnish): https://www.sttinfo.fi/tiedote/71405416/nordic-nano-vahvistaa-rahoituspohjaansa-tuotanto-ja-rekrytoinnit-kayntiin-imatralla?publisherId=69821478&lang=fi