Picosun Receives a Significant Capital Investment

ESPOO, Finland, September 20, 2013 /PRNewswire/ --

Finnish, leading Atomic Layer Deposition (ALD) equipment manufacturer Picosun Oy receives a 5.4 million euro capital investment from Finnish investors. The investor group consists of long-term entrepreneurs and capital investors Mr. Hannu Turunen and Mr. Ilkka Hiidenheimo, who have e.g. founded the successful network security company Stonesoft Oyj. The 130 years old family company R.Ruth Oy, based in Jyväskylä, Finland, is also a part of the investor group.

"Picosun's business is based on decades of Finnish nanotechnology research and development. The company has been able to develop ALD equipment with unrivaled quality. At first for research purposes, but today satisfied customers around the globe are using Picosun's ALD technology in production purposes on a vast range of application areas. Picosun's ability to serve the most demanding customers in the world in this most interesting, rapidly growing market enables a huge, profitable growth, which fascinates me as an investor and an entrepreneur," summarizes Mr. Hannu Turunen. The Chairman of the Board of R.Ruth Oy, Professor Jorma Routti, who is also a long-term member of Picosun Board, continues: "It is very pleasant to invest on Picosun. Picosun is a prime example of a technology company, which has not only a business plan, but also a business."

The Chairman of the Board of both Picosun and its parent company, Stephen Industries Inc. Oy, Mr. Kustaa Poutiainen, is pleased of the faster growth enabled by the investment: "I am especially happy to get successful and experienced minds into the Picosun team. They are needed in order to achieve Picosun's ambitious goals."

The ALD technique was invented and patented by Picosun Board Member and shareholder Dr. Tuomo Suntola from Finland. Picosun's ALD technology enables industries' novel, groundbreaking future solutions. Picosun's global headquarters are located in Espoo, Finland, its manufacturing facilities in Kirkkonummi, Finland, its subsidiaries in USA and Singapore, and the company has worldwide sales and support network.