German Industrial Giant Invests in Finnish Nanotechnology

Nanocomp OY, a designer and manufacturer of nano optics, has received a major venture capital investment from the German company Evonik Industries which will become a minority shareholder in the Joensuu, Finland-based company.

According to Nanocomp, the investment will assist the company in international development and growth. The precise investment amount was not disclosed.

Nanocomp designs and manufactures nano optical components with which light can be guided and controlled with extreme precision. The products are used in, among other things, the displays of mobile devices, pattern recognition and various measuring devices. The company’s turnover is generated almost entirely in Asia, but its product development and production are located in Finland.

“Nanocomp’s activities have a high strategic fit with Evonik’s business. The progress both in digitalisation and in the use of human/machine-interfaces calls for the miniaturisation of the functional optical elements. With their know-how, Nanocomp is a pioneer in this area. For Evonik this is a door-opener to highly attractive growth markets,” explains Dr. Bernhard Mohr, head of Venture Capital at Evonik.

Evonik is one of the world’s leading manufacturers of specialty chemicals. Nanocomp has already previously used Evonik’s products in manufacturing its optical components.

“In addition to growth funding, Evonik will bring us important expertise. Our goal is to increase our production and expand to new market areas and new, innovative optical applications,” says a delighted Veli-Pekka Leppänen, CEO of Nanocomp.