Enso Holding invests into Picodeon to boost thin film production in Finland

January, 27, 2012

Enso Holding Ltd [Guernsey] has made a significant investment into Picodeon Ltd Oy. Total extent of the agreement package is 2,5 million EUR. Primary objective of the parties is to boost the development and manufacture of disruptive thin films and of thin film deposition tools.

With the investment by Enso Holding Picodeon shall accelerate its business development in disruptive thin film applications and invest in expansion of manufacturing capacity in Finland.

Picodeon deposition technology enables coating of practically any material with a thin film of any material available in solid form. Picodeon focuses today on boron-carbon-nitrides, which the industry is contemplating as alternatives to for example diamond films. The main raw material of these super hard thin films is nitrogen-rich carbon nitride. It is supplied by Carbodeon, which is one of the few suppliers of this material in the world and a close development partner of Picodeon

“We are able to produce hard, tough, transparent and dense thin films, which have applications in many industrial sectors. Our goal is a transient leap forward in coating technology. Partnering with Enso allows us to exploit our technology faster in the global thin film markets”, says Mr Jukka Häyrynen, CEO of Picodeon.

Kevin R. Lewis, Director Enso Advisory Ltd: “We believe that Picodeon poses a strategic fit to our strategy for creation of a world leader in Advanced Materials industry. Moreover, Finland, in our view, is a leading innovation powerhouse in Europe with a very attractive climate for innovation”

Enso Holding Ltd focuses on Innovation & Commercialization in the area of Advanced Materials and Composites. Enso Holding uses its wholly owned subsidiary Enso Advisory Ltd to evaluate, develop and operate its portfolio as well as provide technical, market and management services to the portfolio companies. Enso Advisory Ltd identifies early stage disruptive innovative technologies and accelerates commercialization through product development, venture creation, venture investment and acquisition for evaluation by Enso Holding Ltd

Picodeon Ltd Oy has developed a materials agnostic pulsed laser based thin film deposition technology Coldab® since 2005 and the technology is protected by patents and patent applications in over 20 patent families. The company produces thin films with a thickness from a few nanometers to a few micro-meters and the applications range from semiconductors and optics to wear resistant and cutting tools application as well as bio compatible applications..

Picodeon has received major funding from Tekes and Finnvera.

Jukka Häyrynen, CEO, Picodeon Ltd Oy, jukka.hayrynen(at)picodeon.com, mobile +358 500 448 82

Kevin R. Lewis, Director Enso Advisory Ltd, k.lewis(at)ensoadvisory.com, mobile +44 78 27 812 833