Investors

Board of Directors

The Board of Directors of Solar Foods is responsible for overseeing the management of the Company and ensuring the proper organisation of the Company's operations. The Board directs and supervises the executive management of Solar Foods and is responsible for such other duties as are prescribed for the Board by the Articles of Association, the Companies Act or otherwise. The Board of Directors has established written rules of procedure for its activities, which describe the policies and rules of the Board.

Assessment of independence add

Based on the independence assessment carried out by the Board of Directors, the Board of Directors of the Company meets the independence requirements of the First North marketplace.

Juha-Pekka Pitkänen is not considered to be independent of the company, management or significant shareholders of the company as he is the second largest shareholder of the company with more than 12.4% of the company's Shares and as he is employed by the company and a member of its Management Team. Juha Lindfors, Chairman of the Company's Board of Directors, and Sebastian Jägerhorn, a member of the Company's Board of Directors, are not considered to be independent of significant shareholders of the company. Juha Lindfors, Chairman of the Board, has an employment relationship and control over Lifeline Ventures Fund III Ky, which owns 10.6% of the Shares, and Sebastian Jägerhorn, member of the Board, is employed by the Company's largest shareholder, Oy Karl Fazer Ab, which owns 12.8% of the Shares. The other members of the Board are considered to be independent of Solar Foods and its management and significant shareholders.

According to Solar Foods' Articles of Association, the Board of Directors consists of at least four (4) and a maximum of seven (7) ordinary members. The term of office of the members of the Board of Directors expires each year at the end of the next Annual General Meeting.

Board members

















Juha Lindfors, born 1973

Chairman of the Board since 2020, Member of the Board since 2018
Education: M.Sc. econ.
Main occupation: Partner, Lifeline Ventures

Background add

Work experience and positions of trust

Juha Lindfors joined Lifeline Ventures in 2016. Prior to that, he worked as an active angel investor and partner at EQT. As Lifeline’s representative, Juha headed the company’s seed round and has served as the Chairman of the Board of Directors since 2020. Among Lifeline's portfolio companies, he is involved in CurifyLabs, Droppe, Measurlabs, Sulapac and Swappie.

Independence

Juha Lindfors is not considered to be independent of the Company's major shareholders as he is employed by and controls Lifeline Ventures Fund III Ky, which holds more than 10% of the Company's shares.

Juha-Pekka Pitkänen, born 1975

Member of the Board since 2017, Chairman of the Board in 2017-2020
Education: Doctor of Engineering
Main occupation: Chief Technology Officer, Solar Foods

Background add

Work experience and positions of trust

Juha-Pekka Pitkänen is one of the founders of Solar Foods and he has been the company’s chief technology officer since its foundation. He has worked as a scientist in biotechnology at VTT, which gave birth to the idea of creating Solar Foods. Juha-Pekka was the Chairman of the Board of Solar Foods from its establishment until 2020, after which he has served as a Member of the Board.

Independence

Juha-Pekka Pitkänen is not considered to be independent of the Company, its management or significant shareholders as he is the second largest shareholder in the Company with 12.4% of the shares and he is employed by the Company and a member of its Management Team.

Thomas Harding, born 1971

Member of the Board since 2020
Education: Master's degree from the University of Cambridge, additional studies in law and finance
Main occupation: Partner, Bridford Group

Background add

Work experience and positions of trust

Thomas Harding is a partner in Bridford Group. He previously worked with TMT investments at Access Industries. In addition to Bridford Group companies, he is currently a Board Member of LenioBio GmbH, Touchlight Holdings Limited, Grabyo Limited, Solar Foods, and Penfold Technology Limited. Previously, he has served as a Board Member of Westwing Group AG, Ice Group ASA, Perform Group/DAZN, Sentient Technologies Holdings Limited and Channel 10 TV, and as a trustee of the Blavatnik School of Government Foundation at Oxford University.

Independence

Thomas Harding is independent of the company, its management and its major shareholders.

Paula Laine, born 1976

Member of the Board since 2024
Education: Master of Science
Main occupation: CEO of Safegrid Ltd

Background add

Work experience and positions of trust

Paula Laine is the CEO of Safegrid. Prior to this, she served as CEO of the Finnish Climate Fund for over four years, during which time the company made 22 investment decisions in scale-up environmental technology companies. Paula has served on the Boards of several corporate, foundation and cooperative organizations, currently she serves on the Board of the renewable energy and climate technology project development company Forus Oy and At Ease Consulting Oy in addition to Solar Foods. Her areas of expertise include sustainability, strategy and technology development, with which she has worked for a long time also at the Finnish Innovation Fund Sitra and Nokia before the Climate Fund.

Independence

Paula Laine is independent of the company, its management and its major shareholders.

Jari Tuovinen, born 1968

Member of the Board since 2017, Deputy Chairman of the Board since 2024
Education: CTM
Main occupation: Partner, Nordic Foodtech VC

Background add

Work experience and positions of trust

Jari Tuovinen is a Board professional and one of the founders of Nordic FoodTech VC and Visionplus Fund. Jari has extensive experience in creating strategies for growth companies, acquisitions and investments in various industries both as a private investor and through private equity funds. He is currently, for example, the Vice Chair of the Board of Directors of LähiTapiola Pääkaupunkiseutu, and Chairman of the Board of Tracegrow Oy, Fluentic Oy and TLD Registry LTD. He also acts as a Member of the Board in Janneniska Group Oy and Street Food Group Oyj.

Independence

Jari Tuovinen is independent of the company, its management and its major shareholders.

Sebastian Jägerhorn, born 1969

Deputy Member of the Board since 2020 and Member since 2021
Education: Bachelor of Laws, M. Sc. econ.
Main occupation: Director of Legal Affairs and member of the Management Team, Fazer Group

Background add

Work experience and positions of trust

Sebastian Jägerhorn is Director of Legal Affairs and a member of the Management Team at Fazer Group. Fazer is one of the leading food companies in the Nordic countries, focusing on bakery, confectionery and plant-based products.

Independence

Sebastian Jägerhorn is not considered to be independent of the Company's major shareholders as he is employed by the Company's largest shareholder, Oy Karl Fazer Ab, which holds more than 10% of the Company's shares.

Pontus Stråhlman, born 1977

Member of the Board since 2019
Education: M.Sc. econ.
Main occupation: Partner, Voima Ventures VC

Background add

Work experience and positions of trust

Pontus Stråhlman has been a partner of Voima Ventures Ltd that invests in science-based deep tech start-ups since 2020. He is also a serial entrepreneur, angel investor and start-up advisor. His areas of expertise include, for example, investing in AI companies as well as companies in the food, agriculture and pharmaceutical industries. He has been responsible for investments in, for example, EniferBio Oy, the Estonian IIO Biotech OÜ and MVision AI Oy, and worked on the boards or administrative bodies of these companies.

Independence

Pontus Stråhlman is independent of the company, its management and its major shareholders.

Nomination Committee of the Board of Directors

The Board may establish standing committees to assist the Board in the preparation and discharge of its duties and responsibilities and may determine their size, composition and functions.

On 7 August 2024, the Board of Directors of Solar Foods has established a Board Nomination Committee to prepare the nomination and remuneration of the members of the Board of Directors of the Company.

The Nomination Committee has Sebastian Jägerhorn as chair and Juha Lindfors and Jari Tuovinen as members. The Nomination Committee does not have independent decision-making powers but assists the Board in preparing the selection of Board members and the remuneration of the Board. The Nomination Committee reports to the Board of Directors on its activities.