Incap participates in the VC fund "Clean Future Fund I"
Incap Corporation Press release 23 June 2010
INCAP PARTICIPATES IN THE VENTURE CAPITAL FUND "CLEAN FUTURE FUND I"
Incap has signed an agreement on the participation in the venture capital fund Clean Future Fund I. The fund is managed by Cleantech Invest and its potential investments include today more than one hundred firms operating in cleantech business.
Cleantech Invest is part of the VIGO Program managed by the Finnish Ministry of Employment and the Economy. The program is aimed at aligning definite public funding with private high-class business excellence to speed up the best start-up firms. In the start-up accelerators of the VIGO Program, experienced professionals are coaching start-ups in order to get the firms into a fast growth track and to make them attractive to international institutional investors.
Sami Mykkänen, President and CEO of Incap Group: "As a partner for the Cleantech fund, Incap is in a good position to become the design and manufacturing partner for the firms in the fund's deal flow. We are willing and able to support the emerging, innovative firms in their strive for growth and internationalisation."
"Remarkable part of the firms in the fund's deal flow are potential customers for Incap, and the cooperation with the fund of Cleantech Invest supports our new customer acquisition in energy efficiency which is Incap's strong growth area of strategic importance."
According to Sami Mykkänen, especially the energy efficiency technology connected with renewable energy solutions comprises a great potential for a contract manufacturer like Incap. Thanks to its well-established and competitive operations in India and China Incap is able to support and enhance the internationalisation of the Finnish innovating firms of the fund.
Majority of the firms in the deal flow of Clean Future Fund I are technology companies offering solutions for the utilisation of solar energy, wind power and other renewable energy along with equipment involved in energy efficiency and electrified transportation. Incap is already in negotiations with several firms having a remarkable revenue potential already in the forthcoming years with prospects of growing further in future.
Sami Mykkänen, President and CEO, tel. +358 40 559 9047
Hannele Pöllä, Director, Communications and HR, tel. +358 40 504 8296
INCAP IN BRIEF
Incap Corporation is an internationally operating contract manufacturer whose comprehensive services cover the entire lifecycle of electromechanical products from design and manufacture to maintenance services. Incap's customers are leading equipment suppliers in energy-efficiency and well-being technology, for which the company produces competitiveness as a strategic partner. Incap has operations in Finland, Estonia and India. The Group's revenue in 2009 amounted to around EUR 70 million, and the company currently employs approximately 780 people. Incap's shares are listed on the NASDAQ OMX Helsinki Oy. For additional information, please contact www.incap.fi.