# Fortum

> Fortum is a VC fund in Espoo backing Renewable Energy and B2B. See 3 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Espoo, Finland
- Total investments: 3
- Last investment: Sep 2025
- Lead investor: 33%
- Last updated: Aug 2026
- LinkedIn: http://www.linkedin.com/company/fortum
- X (Twitter): https://twitter.com/fortum
- Website: http://www.fortum.com/
- Facebook: https://www.facebook.com/FortumNorge/

Fortum is an energy company that generates and provides clean energy to help indus­tries to decar­bonise their processes. The company's primary activities in the Nordic region include producing effective, CO2-free electricity and providing district heat and electricity with consistency to residential and commercial users. Fortum is confidentin their dedication, their path, and eventually the outcomes they hope to attain due to their strong company principles as well as their abilities and experience.

## Contacts

5 contacts available for Fortum. Shizune tracks 13 team members at Fortum. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/fortum?utm_source=investor_profile

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Renewable Energy | 2 | 67% |
| B2B | 1 | 33% |
| Energy | 1 | 33% |
| CleanTech | 1 | 33% |
| Marketplace | 1 | 33% |

10 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 1 | 33% |
| Series B | 1 | 33% |
| Post-IPO Equity | 1 | 33% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Finland | 2 | 67% |
| Germany | 1 | 33% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Arto Raty | Senior Vice President | 0 | https://shizune.co/investors/profile/arto-raty |
| Bernhard Günther | CTO | 0 | https://shizune.co/investors/profile/bernhard-g%C3%BCnther-bea6 |
| Julius Kirkkola | Business Controller | 0 | https://shizune.co/investors/profile/julius-kirkkola |
| Kari Kautinen | Senior Vice President | 0 | https://shizune.co/investors/profile/kari-kautinen |
| Karin Nyberg | Executive Vice President, People | 0 | https://shizune.co/investors/profile/karin-svenske-nyberg |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Puro.earth | Puro.earth is the first B2B marketplace, standard, and registry focused solely on carbon removal. It mobilizes the world’s economy to reward carbon net-negative emissions. It does this by helping voluntary corporate buyers accelerate carbon dioxide removal at an industrial global scale. Puro.earth provides carbon removal as a service, throughidentifying suppliers, verifying their carbon removals, and issuing CO2 Removal Certificates (CORCs), an integral part of long-term procurement portfolios to fulfill net-zero pledges. Aiming at climate and economic impact, Puro.earth is driving forward a market of carbon-negative industries, enabling a new revenue stream to accelerate their growth. | $12.8M | Series B | Sep 04, 2025 |  |
| Uniper | Uniper is an international energy company with about 11,000 employees. They combine a balanced portfolio of technologically advanced large-scale assets with outstanding technical and commercial expertise. Uniper is a German energy company based in Dusseldorf, North Rhine-Westphalia. It was formed by the separation of E.ON's fossil fuel assetsinto a separate company that began operating on 1 January 2016. | $9B | Post-IPO Equity | Jan 05, 2022 |  |
| AW-Energy | The company develops and delivers technology for converting ocean waves to electricity. AW-Energy has developed WaveRoller - a fully submerged wave energy converter which utilizes wave surge phenomenon. This commonplace effect is observed in near-shore waters where the circular motion of water particles present in open sea waves changes intoelliptical circulation due to more shallow bottom. Before the waves break, typically at the depth of 8-20 metres this elliptical motion is so flat that it is essentially a horizontal back-and-forth movement of water. WaveRoller device is a Panel anchored at its base on the sea bed. The back and forth movement of the wave surge moves the Panel, transferring the kinetic energy to piston pumps. The pumps create a great deal of pressure which is fed into a combination of hydraulic motor/generator, which in turn produces electricity. The nominal capacity of a single commercial-scale Panel ranges between 500 – 1000 kW, depending on the wave resources available on the site. WaveRoller has the ability to generate energy on a wide spectrum of wave states and is also well suited for locations where wave periods are long and the swell is strong.A series of WaveRoller devices can be combined into an array, thus resulting in a wave farm. Since the plant construction is modular with a high degree of independence between individual units, there is no natural upper limit to the number of WaveRoller units that can be used, therefore offering a high level of scalability and reliability. The electricity output from an individual Panel is connected to a hub/substation, thus making it easy to plug-in new units in separate project development stages, as the new capacity is added to the farm. Also, any potential underperformance or service & maintenance breaks of individual units have no impact on the remaining units, thus ensuring uninterrupted power output from the overall farm.The first prototypes were designed and patent applications were filed as early as in 1999, when Rauno Koivusaari, the original inventor co-operated with Fortum Research Centre during the conceptual phase. Since then the technology has evolved following numerous laboratory and wave-tank test trials and ongoing mathematical simulations. Open sea trails started in 2004 and included the Gulf of Finland, marine tests conducted in the European Marine Energy Centre (EMEC), Scotland, and an own testing site in Peniche, Portugal. The subsequent successes and encouraging test results led to continuous increase in the scale of the demonstration plant.The latest demonstration plant/farm consisting of three 100kW WaveRoller units (total nominal capacity of the farm 300kW) is to be deployed in Peniche, Portugal, during the second quarter of 2012. The final assembly is nearing completion in the first quarter of 2012 and will be awaiting suitable weather conditions for the deployment in the following months. The farm will be connected to national grid in Portugal. The company has already secured all the necessary permits and, additionally, holds a licence for 1MW grid connection. |  | Series A | Jan 01, 2004 |  |

3 of 3 investments shown.

## Co-investors
- [Aura Group](https://shizune.co/investors/profile/aura-group) — VC Fund, 1 deal together
- [John Nurminen Oy](https://shizune.co/investors/profile/john-nurminen-oy) — VC Fund, 1 deal together
- [Nasdaq](https://shizune.co/investors/profile/nasdaq) — VC Fund, 1 deal together
- [Sitra](https://shizune.co/investors/profile/sitra) — VC Fund, 1 deal together

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## FAQ

### What does Fortum invest in?

Fortum invests primarily in Renewable Energy, B2B and Energy startups, most often at Series A and Series B stage. Most of the 3 investments tracked by Shizune back companies in Finland. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### How do I contact Fortum?

Public channels for Fortum include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Fortum?

The team at Fortum includes Arto Raty (Senior Vice President), Bernhard Günther (CTO) and Julius Kirkkola (Business Controller), among 13 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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