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Picosun accelerates growth with Finnish investment
Finnish investors make significant investments in Picosun, a manufacturer of ALD equipment, increasing the company's share capital by EUR 12 million. New investors are CapMan Growth fund, Finnish Industry Investment Oy, and Risto Siilasmaa's First Fellow Partners.
Earlier investors in Picosun - Hannu Turunen, and R.Ruth Oy - also made add-on investments in the company, in addition to the company's Board members Prof. Jorma Routti and Dr. Tech. Tuomo Suntola. "We are already the world's number one manufacturers of research and other specialised equipment within the ALD field, but we aim to achieve a leading position also in other large ALD production equipment. We are determinedly moving in this direction," says Kustaa Poutiainen, Chairman of the Board at Picosun, in a press release. The family office of Kustaa Poutiainen, Stephen Industries Oy, remains the majority investor after the funding round. ALD, or Atomic Layer Deposition, is a Finnish technology developed by Dr. Tech. Tuomo Suntola. The technology enables the creation of precise films with a thickness of less than a nanometer, which is a prerequisite for the functionality of modern electronics. New applications for ALD are constantly found in for example medical technology. "ALD technology is one of the most significant Finnish inventions and we are proud to participate in the acceleration of Picosun's growth and internationalisation. ALD technology is present in many everyday devices and processes and according to our estimates, the market is growing by almost 30 percent per year in the next five years. Picosun has already proven to be a leading performer in certain industrial verticals and has achieved global recognition. We want to be a part of taking the development to the next level," says Juha Mikkola, Managing Partner of CapMan Growth.
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