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    STERV   FI0009005961


Delayed Nasdaq Helsinki  -  11:29:42 2023-01-27 am EST
13.57 EUR   -3.14%
01/27Stora Enso Reaches Agreement To Sell Swedish Paper Production Site
01/27Finland's Stora Enso Ends Segment Reporting of Paper Division
01/27Stora Enso changes its segment reporting
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Stora Enso Oyj : forms partnership with Voodin Blades to develop sustainable wind turbine blades from wood

11/15/2022 | 02:11am EST

Stora Enso and Voodin Blade Technology GmbH have signed a partnership agreement to develop sustainable wind turbine blades from wood. Under the agreement, the two companies are committed to developing sustainable alternatives for wind turbine blades and creating a competitive and reliable supply chain. They are currently producing and installing a 20 m blade for a 0.5 MW turbine and have plans for an 80 m blade.

Voodin Blades is a German-based start-up company developing sustainable rotor blades for wind turbines.Stora Enso is a leading global supplier of mass timber products, including LVL(laminated veneer lumber), a construction material suitable for wind power construction. The partnershipsupports Stora Enso's strategic offering of innovative solutions to replace less environmental-friendly materials with renewable ones made from wood.

"With the current energy crisis and ambitious decarbonisation goals, wind energy has never been more in demand. Through this partnership with Voodin Blades we further accelerate our ability to develop a sustainable and competitive supply chain for the growing market of wind turbine blades," said Lars Völkel, Executive Vice President, Wood Products Division, Stora Enso.

Wind power blades are typically produced with fibreglass and carbon fibre, energy-intensive non- renewable plastics made from petrochemicals that cannot be easily recycled. Tens of thousands of ageing blades today end up in landfills. By developing blades with sustainable wood, Stora Enso and Voodin Blades can make the blades lighter and reduce the overall dependency on fossil fuel extraction.

"The wind industry as a key driver towards carbon neutrality needs to become 100% sustainable and environmentally friendly. With the installation of the 20 m blade, we are opening a path towards a more sustainable future. In time we will start to develop and manufacture blades for future multi-megawatt turbines," said Joachim Knapp, mechanical engineer and automation expert with Voodin Blades.

Stora Enso is providing 100% sustainable wood for the new blades. The first 20 m blade will be developed using Stora Enso's LVL, a mass timber product that has a high load-bearing capacity that easily supports largescale rotary blades. Unlike steel and concrete, LVL is relatively lightweight to transport on-site without heavy-duty equipment. Furthermore, LVL is a renewable material with a minimal carbon footprint. The 20 m blade will be installed on a 0.5-megawatt turbine near Warburg, Germany by the end of 2022.

In addition to its collaboration with Voodin Blades, Stora Enso recently announceda partnership with wood technology company Modvionto establish wood as the material of choice for wind turbine towers.

For further information, please contact:
Cathrine Wallenius
SVP, Communications and Marketing Wood Products, Stora Enso
Tel. +46 70 209 2429

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials, wooden construction and paper, and one of the largest private forest owners in the world. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 were EUR 10.2 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com

Voodin Blade Technology GmbH is a German-based company thatdevelops, sells and builds Engineered Wood Product (EWP) based wind turbine blades.



Stora Enso Oyj published this content on 15 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 November 2022 07:10:07 UTC.

ę Publicnow 2022
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Sales 2022 11 638 M 12 634 M 12 634 M
Net income 2022 1 290 M 1 400 M 1 400 M
Net Debt 2022 2 114 M 2 294 M 2 294 M
P/E ratio 2022 8,52x
Yield 2022 4,57%
Capitalization 10 918 M 11 852 M 11 852 M
EV / Sales 2022 1,12x
EV / Sales 2023 1,20x
Nbr of Employees 22 000
Free-Float 85,4%
Duration : Period :
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Technical analysis trends STORA ENSO OYJ
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Income Statement Evolution
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Last Close Price 13,57 €
Average target price 15,78 €
Spread / Average Target 16,3%
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Annica Bresky President & Chief Executive Officer
Seppo Matti Parvi Chief Financial Officer
Antti Mikael Mńkinen Chairman
Hock Goh Independent Director
Elisabeth Fleuriot Independent Director
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