Press release
August 29, 2008

Spinverse makes share donation to the Millennium Technology Prize

HELSINKI, FINLAND

The board of Spinverse has decided to make a donation in the form of company shares to the Millennium Technology Prize. The board members of Spinverse, a company which specialises in the commercialisation of emerging technologies, include Matti Packalén, Lars Gädda, Matti Kleimola, and Yrjö Neuvo, former CTO of Nokia Corporation. The board members have decided to donate their compensation, in the form of Spinverse shares, to support the Millennium Technology Prize. The Prize is part of the Technology Academy Finland Foundation. The donation amounts to 5% of Spinverse’s issued shares.

“The Technology Academy of Finland Foundation is doing exceptional work to solve global challenges and support the development of life-changing technologies. The aims of the Millennium Technology Prize are in line with Spinverse’s work to develop and commercialize breakthrough technologies, and therefore the organisation is a natural target for our donation” says Chairman of the Board of Directors, Matti Packalén.

Spinverse is continuing to experience strong growth and is broadening its service offering to customers across the world. Spinverse’s turnover in the company’s last financial year was about 1 million Euros, and the company is profitable. The company has a revenue target of 2 million Euros for the next financial year. “This innovative share donation is well in line with Spinverse’s strategy” adds Managing Director Pekka Koponen.

 “The foundation is very grateful for this donation, which serves as confirmation that we are on the correct path. We also value Spinverse’s work on the development and commercialisation of emerging technologies” says Stig Gustavson, chairman of the Technology Academy Finland Foundation.


Additional Information

More information about the Spinverse board is available at www.spinverse.com/board.php

Contact information:
Pekka Koponen
Managing Director
Spinverse Oy
Tel: +358 40 545 0008
E-mail: pekka.koponen(@)spinverse.com

Stig Gustavson, Chairman of the Board of the Technology Academy of Finland Foundation
Tel: +358 40 041 1119
E-mail: stig.gustavson(@)milleniumprize.fi


Spinverse
Spinverse commercialises emerging technologies by combining scientific, industrial and investment expertise with wide contact and knowledge networks. The 16-person firm coordinates Tekes’ nanotechnology, materials technology, fuel cell and mobile services programmes, consults university spin-offs and early stage companies and organises technology conferences.

www.spinverse.com
www.nanotech.net

The Millennium Technology Prize
The Millennium Technology Prize is Finland's tribute to life-enhancing technological innovations. The prize has been established to steer the course of technological development to a more humane direction. In particular, the prize seeks to highlight innovations that assist and enrich our everyday lives today as well as in the future.

The prize is awarded every second year. Nominations for the prize can be made by academies, universities, research institutes and industrial organizations. Candidates are sought from across the world and all fields of technology.

The Millennium Technology Prize is the world's biggest technology prize and it is awarded by the Technology Academy Finland, an independent fund established by Finnish industry and the Finnish state in partnership.

www.millenniumprize.fi

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