Donut Lab acquires Nordic Nano Group to expand technology portfolio

Donut Lab has completed the acquisition of the entire share capital of Nordic Nano Group, a company specializing in environmentally friendly nanotechnology for solar energy, energy storage, and hydrogen production. This acquisition integrates Nordic Nano Group’s intellectual property and expertise with Donut Lab’s existing motor, battery, control, and software technologies.

Following the acquisition, Nordic Nano Group founders Esa Parjanen and Jarkko Aro have joined the Donut Lab board. Aro has assumed the role of industrialization director, while Parjanen becomes the director of business development. Additionally, Nordic Nano Group’s chief researcher, Bela Bhuskute, has transitioned to the role of chief researcher at Donut Lab.

The transaction also coincides with leadership changes at Donut Lab. Risto Siilasmaa has stepped down from the board to serve as an observer and advisor. The total value of the acquisition was not disclosed.