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Recharge - the 140M EUR enterprise value exit that is the North Star guiding Valkea.

May 13, 2020

For many years, Fortum incubated Recharge, a new charging point operator for electric vehicles. Under our guidance, the business reached an enterprise value of 140MEUR in April 2020. A majority stake of the company was then exited to Infracapital, the infrastructure equity arm of M&G Plc.

Recharge’s journey taught us a lot about growing a leading regional clean-energy business – how it is best funded, launched, expanded and eventually exited. Through the Growth Board at Fortum, we’ve established a framework for replicating this success with many more startups.

Now we’re productising these efforts with an inspired, forward-thinking team: Valkea. Using the process pioneered with Recharge, we’re growing new companies in the clean-energy space. By providing premises, funding and an unparalleled range of expertise, we’ll take startups from the idea stage through to an enterprise value of 100MEUR+. Our portfolio is currently made up of 6 companies, and we’ll soon be inviting more to join.

Read more about what we do to build successes like Recharge at

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