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Regulatory press release

Changes in Canatu Plc’s Management Team: Chief Financial Officer Timo Suominen leaves Canatu

21.01.2025, 17.30
Canatu

Canatu Plc Company Release 21 January 2025 at 6:30 pm EET

Changes in Canatu Plc’s Management Team: Chief Financial Officer Timo Suominen leaves Canatu

Canatu Plc (the “Company”) and the Company’s Chief Financial Officer and member of the Management Team, Timo Suominen, have agreed that Suominen will leave the Company effective immediately. The Company will initiate the process to appoint a successor as soon as possible.

Mikko Vesterinen has been appointed as the interim CFO of the Company. In this role, he will report to CEO Juha Kokkonen.

Before this appointment, Vesterinen served as the CFO of Lifeline SPAC I Plc from 2021 until September 2024 when Canatu Oy and Lifeline SPAC I Plc combined. Prior to that, he worked as the CFO of Qvik Oy from 2017 to 2021 and held various roles at the Corporate Finance unit of Skandinaviska Enskilda Banken (SEB) Finland branch in 2007-2017, most recently as Vice President.

CEO Juha Kokkonen: “We thank Timo Suominen for his long-term contribution for Canatu.”

Additional information:

Chair of the Board of Directors Timo Ahopelto, tel. +358 400 569 628

CEO Juha Kokkonen, tel. +358 405 430 367

Certified Adviser

Carnegie Investment Bank AB (publ), tel. +46 (0)73 856 42 65

About Canatu 

Canatu (CANATU, Nasdaq First North, Finland) is a fast-growing deep technology company creating advanced carbon nanotubes (Canatu CNTs), related products, and manufacturing equipment for the semiconductor, automotive, and medical diagnostics industries. Canatu partners with forerunner companies, together transforming products for better tomorrows with nano carbon.  

Canatu's versatile platform technology has broad potential applications. Its current core includes CNT membranes for extreme ultraviolet (EUV) processes in the semiconductor industry, enabling the manufacturing of the most advanced chips, as well as film heaters for advanced driver-assistance systems (ADAS) in the automotive industry. Additionally, electrochemical sensors for medical diagnostics are in the development phase. Canatu’s patented CNT reactors and Dry DepositionTM method yield clean and pristine CNTs. The company operates through two business models: selling CNT products directly, as well as selling CNT reactors and licensing the related technology so that customers can produce CNT products under a limited license.  

Headquartered in Finland, Canatu also operates in the US, Japan, and Taiwan. Founded in 2004 as a spin-off from Aalto University’s Nanomaterials Group, Canatu currently has around 130 employees representing over 30 nationalities, with 20 percent holding or pursuing doctorates. Discover more at www.canatu.com and follow us on LinkedIn. 

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