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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Nokia Oyj    NOKIA   FI0009000681

NOKIA OYJ

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Nokia and Greener Acres Canada sign agreement to advance intelligent urban infrastructure solutions

10/21/2020 | 02:30pm EST
  • Initiative will produce smart city green poles from nearly 50,000 tons of e-waste collected annually in Ontario
  • The smart city green poles are designed to deliver high-speed broadband communications to support advanced smart city solutions across Ontario

          
21 October 2020

Ottawa, Ontario – Nokia and Greener Acres Canada Inc. today announced that they have signed an agreement to advance intelligent urban infrastructure solutions, enhance communications, and foster a circular economy in Canada. Per the agreement, Nokia and Greener Acres will work together to develop and upgrade Canada’s utility pole infrastructure to smart city green poles that can power smart cities and broadband communications across the country.

Each year, Canada is replacing an estimated four million poles across the country. Nokia and Greener Acres Canada are bringing to life a united vision to replace traditional poles with smart green poles manufactured from 48,124 tons of recycled e-waste collected annually in Ontario.

Cities with the new eco-friendly poles will be able to transform into “smart cities” that leverage communications infrastructure, IoT devices and sensors to power smart street lights, metered parking, transit systems, waste water systems, traffic signals, and more.
Using special manufacturing techniques, Greener Acres plans to produce up to 1,000 smart city green poles a day. Nokia will be able to use the next-generation smart pole infrastructure to deploy new smart city services, including high-speed broadband connectivity.

Jeff Yurek, Minister of the Environment, Conservation and Parks, Ontario, said: “As people upgrade their phones, computers, tablets, gaming consoles, and other electronic items, we need to find new ways to keep e-waste out of landfills and reduce  its impact on our environment. Nokia and Greener Acres have come up with a very exciting plan to turn this waste into a new resource for building smart cities that will benefit all Canadians and support a circular economy.”  

Shawn Sparling, Head of Enterprise and Public Sector, Nokia Canada, said:
“For many Nokia employees, we call Canada home – and we’re excited to be part of the solution for recycling e-waste that would previously fill up landfills into these next-generation smart green poles that will bring high-speed internet to even more people and power new city services. Collaborating with Greener Acres aligns with our history of innovation at our R&D facilities in Ottawa and our corporate commitment to sustainability.”

Meni Mancini, President and Director, Greener Acres Canada Inc., said:
“While we are a small Ontario-based business, we have big plans to change the status quo on e-waste – turning ‘waste’ into our smart green poles. Due to its strong presence in Ontario and as a leader in connecting the world, Nokia is the right partner as we embark on this endeavor to eliminate waste by diverting it from landfill, supporting the circular economy while enabling cities across Canada to become smart cities and towns.”

About Nokia
We create the technology to connect the world. Only Nokia offers a comprehensive portfolio of network equipment, software, services and licensing opportunities across the globe. With our commitment to innovation, driven by the award-winning Nokia Bell Labs, we are a leader in the development and deployment of 5G networks.

Our communications service provider customers support more than 6.4 billion subscriptions with our radio networks, and our enterprise customers have deployed over 1,300 industrial networks worldwide. Adhering to the highest ethical standards, we transform how people live, work and communicate. For our latest updates, please visit us online www.nokia.com and follow us on Twitter @nokia and @NokiaNAM.

About Greener Acres Canada Inc.
Greener Acres Canada Inc., is a company committed to developing, producing, and introducing technologies to divert waste from landfill and to produce useful products that are sustainable and provide benefit, economically socially and environmentally. We achieve this by fostering an ecosystem of innovation and collaboration.

Media Inquiries:
Nokia
Communications
Phone: +358 10 448 4900
Email: press.services@nokia.com

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© GlobeNewswire 2020
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Sales 2020 21 651 M 25 889 M 25 889 M
Net income 2020 662 M 791 M 791 M
Net cash 2020 1 996 M 2 387 M 2 387 M
P/E ratio 2020 29,6x
Yield 2020 0,16%
Capitalization 18 843 M 22 521 M 22 531 M
EV / Sales 2020 0,78x
EV / Sales 2021 0,76x
Nbr of Employees 94 250
Free-Float 93,3%
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Average target price 3,67 €
Last Close Price 3,35 €
Spread / Highest target 55,3%
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Pekka Ilmari Lundmark President & Chief Executive Officer
Sari Maritta Baldauf Chairman
Marco Wirén Chief Financial Officer
Marcus Weldon Chief Technology Officer
Kari Henrik Stadigh Vice Chairman
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