May 04, 2009
Masdar again in search of investment targets in Finland
Masdar, an Abu Dhabi-based fund investing in renewable energy and environmentally sustainable technologies, was introduced to potential Finnish investment targets this week. Having invested 120 million in Finnish Winwind last year, Masdar is interested in cleantech companies focusing on environmental technologies.
Based in Abu Dhabi, Masdar is a multi-billion dollar investment project that is focused in developing and commercializing renewable, alternative and sustainable sources of energy. Masdar invested 120 million in a Finnish wind turbine manufacturer, Winwind last year.
“Regardless of the economic recession, growth is continuing in the Arabian peninsula oil states. The themes of environmentally friendly and sustainable development have emerged strongly in the regional economy. Finland happens to have excellent know-how to offer in the field of environmental technology, which explains the interest Abu Dhabi has taken into Finnish companies,” says Matti Ruuskanen, Head of Trade Center Finpro Arab Emirates.
“There's a demand for all products, materials and services that promote sustainable development. In addition, the Arabian peninsula has many ongoing traffic and logistics projects including building of railroads, airports and harbors,” Ruuskanen continues.
While in Finland, Masdar attended Finpro's seminar introducing potential Finnish cleantech companies. The seminar topic was sustainable construction and environmental development in the Arabian peninsula.
Cleantech Finland® — the future backbone for Finnish industry
The current recession has had a dramatic effect on the Finnish industry and there's a need for new solutions. Finnish cleantech business is considered as one of the most potential growth sectors in the future.
“Cleantech companies are in demand now more than ever before. Finnish assets include cutting-edge technological know-how and operational reliability. Another key asset in witness of Finnish cleantech know-how is the clean Finnish nature. Our short-term goal in the next few years is to make environmental technologies the new backbone for Finnish industry,” says Santtu Hulkkonen, Program Director of Cleantech Finland.
Cleantech Finland helps Finnish cleantech companies to grow and enter the international markets. Another goal is to present Finland as an accountable country of high technology and environmental know-how, a country worth investing in and establishing businesses. The Cleantech Finland program is operated by Finpro.
