Donut Lab has acquired Finnish nanotechnology company Nordic Nano Group, bringing its team, intellectual property and expertise into the company. The deal builds on their previous collaboration and combines Nordic Nano Group’s nanomaterials technology with Donut Lab’s electric motor, battery, control and software systems.
Nordic Nano Group specializes in nanotechnology for solar energy, energy storage and hydrogen applications. Its technology and research capabilities will now be integrated into Donut Lab’s broader energy and electrification portfolio.
The acquisition expands Donut Lab’s capabilities across energy generation, storage and electric power systems, with the companies aiming to develop and scale new energy technologies.
Nordic Nano Group founders Esa Parjanen and Jarkko Aro have joined Donut Lab’s board. Parjanen will lead Business Development, while Aro becomes Chief Industrialization Officer. Chief Scientist Bela Bhuskute will also join Donut Lab as Chief Scientist.
Former Donut Lab board member Risto Siilasmaa will move to an observer role and continue advising the company.
The financial terms of the acquisition were not disclosed. All Nordic Nano Group employees and technology assets have transferred to Donut Lab.
