25.08.2022 -

Woodly Prepares to Scale its Technology Globally – Strengthens its Board with Two Business Professionals

HELSINKI, 25.8.2022 Woodly Ltd, Finland based material technology development company, is pleased to announce the appointment of Jorma Ollila, former Chairman and former CEO of Nokia Corporation, and Lauri Rosendahl, Chairman of the Board of Nasdaq Nordic exchanges and former President and CEO of Nasdaq Nordic, to its Board of Directors.

Woodly Ltd aims to be the most valuable material brand in the world. The company is targeting to replace 15% of fossil-based plastics and reduce carbon emissions by 100 million tons with its wood-based carbon neutral recyclable plastic material by 2035.

“I believe that there is an urgent call for companies and innovations like Woodly that can bring sustainable solutions to the plastic industry and achieve a systemic change. Woodly has successfully commercialized its first products to European markets and is seeking a strong global growth,” said Marko Parkkinen, Chairman of the Board and Founder of Woodly Ltd. “Scaling up is the key when realizing the environmental and social benefits of new material innovations. Even the most significant innovations become futile if they cannot enter the market in large enough volumes. For the next phase, we’re excited to expand our board with two new members – Jorma and Lauri. They will bring exceptional diverse experience in scaling business, global consumer markets, and in-depth perspectives in capital markets.”

Marko Parkkinen (Founder of Woodly Ltd) will continue as Chairman of the Board, and Hanna Liiri (Managing Partner and Board member of Besodos Investors Ltd and member of the Board of Directors of Spinnova Plc) will continue as a member of the Board. Jaakko Kaminen, CEO of Woodly Ltd, is the company representative on the Board of Directors.

New board members

Jorma Ollila is the Chairman of the Board of Directors at Miltton Group and a member of the Board of Directors of Otava Ltd. Mr Ollila also serves as a member of the Board of Directors of Perella Weinberg Partners.

Jorma Ollila has more than 40 years of corporate experience. Mr Ollila served as Chairman of Royal Dutch Shell from 2006 to 2015, and as the Nokia Corporation Chairman during 1999-2012 and as CEO during 1992-2006. From March 2013 to March 2018 Jorma Ollila was the Chairman of the Board of Directors of Outokumpu. As a board professional, Mr Ollila has served in several board positions during his long career. 

Lauri Rosendahl is the Chairman of the Board of four Nasdaq Nordic exchanges since 2016. He has been the President and CEO of Nasdaq Stockholm since 2016, and he was the President and CEO of Nasdaq Nordic from 2016 to 2019. He served as a member of the Nasdaq Inc. (NDAQ) Extended Management Team during 2013-2020. Lauri Rosendahl also served as President of the Helsinki Stock Exchange from May 2009 to March 2016.

Additional Information

Marko Parkkinen, Chairman of the Board of Directors, Woodly Ltd
tel. +358 (0)44 580 2676, marko.parkkinen@seedi.fi

Jaakko Kaminen, CEO, Woodly Ltd
tel. +358 (0)40 590 0035, jaakko.kaminen@woodly.com

About Woodly

Woodly Ltd is a Finnish company developing materials technology. The company was established in 2011 and has its headquarters in Helsinki, Finland. Woodly’s commercial granulate-form product – Woodly® – is a new type of plastic based on wood cellulose. Woodly® material has the same characteristics as conventional fossil plastics but with the added benefit of being carbon neutral and recyclable. In addition to food packaging, it can be used to produce applications for different uses. woodly.com


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