At VNT Management, we fuel sustainable growth by providing hands-on guidance, global connections, and specialised expertise in industrial tech and transformative technologies. As an Article 8/9-aligned fund, we’re committed to scaling businesses that meet high environmental and social standards. Our investments prioritise impactful innovation that builds lasting value and accelerates a low-carbon future. With a track record of successful exits, we drive growth that’s both responsible and profitable.
Driving Growth Through Innovation
The Switch Engineering:
Overview: Specialist in advanced electrical drivetrain technology focusing on permanent magnet, solid rotor and variable speed drive solutions. The main areas of expertise are wind energy, marine and turbo blowers and other industrial solutions.
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VNT´s Approach
Built by Expertise, Driven by Action
At its core is VNT , that does more than just fund promising ventures—it builds them. Recognizing that the world’s energy transition needed more than capital, VNT took an active role in engineering, structuring, and scaling the companies that were merged to form The Switch Engineering.
The journey began in the early 2000s when VNT identified Rotatek Oy, Verteco Oy, and American Youtility Ltd. as innovators in the fields of modern electrical machines, power electronics, and industrial electrification. Rather than taking a passive investor approach, VNT embedded itself in operations, ensuring that each company had the technical expertise, leadership, and strategic guidance to scale.
- Rotatek Oy brought deep expertise in electrical machines and power systems, led by a team of technology researchers and engineers who developed cutting-edge solutions.
- Verteco Oy, founded by VNT, was built from the ground up with a carefully selected R&D team, ensuring that its engineering
capabilities met the highest industrial standards. - Youtility Ltd. in the U.S. was developing advanced power electronics for generator sets, paving the way for decentralized
energy solutions.
VNT didn’t just invest; they built. In 2006, they founded Runsor Tech Oy to consolidate these engineering powerhouses, actively leading the merger process that transformed them into The Switch Engineering. Through strategic guidance, technical involvement, and a relentless focus on execution, VNT forged a unified company capable of driving the electrification and decarbonization of industries worldwide.
By blending investment with operational expertise, VNT ensured that The Switch Engineering was built to not just envision the future—but to create it.
Exit
The Switch Engineering scaled its operations and impact, an exit deal was initially secured with an American listed company. However, due to an Asian client’s inability to fulfill payments for deliveries, the buyer was forced to withdraw from the signed agreement. Despite this unexpected challenge, VNT Management played a crucial role in stabilizing the situation, ensuring that VNT was able to recover its initial investment while retaining its shares.
VNT’s active involvement and strategic guidance during this period were instrumental in securing a new exit opportunity. Leveraging its industry expertise, global network, and deal-making capabilities, VNT facilitated negotiations that ultimately led to The Switch Engineering’s acquisition by a Japanese company. This successful transition not only safeguarded the company’s future but also amplified its reach within a major global industrial player, ensuring continued innovation and expansion.
Environmental impact
The Switch Engineering became a leader in wind power technology, supplying permanent magnet generators (PMG) for thousands of wind turbines worldwide. These high-efficiency PMGs helped transform the global wind industry by enabling higher energy yields, reduced maintenance, and greater reliability—key factors in scaling clean energy production.
One of the most significant contributions came in China, where over 12,000 wind turbines (1MW–2.3MW) featuring The Switch Engineering’s permanent magnet generator technology have been in operation for over 15 years. Together, these turbines have produced a staggering 600TWh of clean energy—seven times Finland’s annual energy consumption—directly displacing coal-based power and preventing over 500 million tons of CO₂ emissions. To put this impact into perspective, this CO₂ reduction is 12 times Finland’s total annual emissions.
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Convion:
Overview: At the heart of Convion’s innovation are Solid Oxide Fuel Cells (SOFCs) and Electrolyser systems, which offer high efficiency in both power generation and hydrogen production.These systems are designed to operate reversibly—turning fuel into electricity during power generation and using electricity to produce hydrogen in reverse mode.
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VNT Approach
From Spin-Out to Successful Trade sale with VNT Management
VNT’s vision was clear: the transition from fossil fuels to renewables would involve a phase where gases would play a key role, due to their significantly lower CO2 emissions. With energy efficiency as the central priority, VNT identified that the best way to convert fuel into electricity was through Solid Oxide Fuel Cells, which also generate minimal exhaust emissions, making them ideal for a climate-conscious world.
VNT recognized the tremendous potential of Wärtsilä’s fuel cell activities and supported the spin-out of these innovations to form Convion Oy, with a strategic first investment.
From the outset, VNT took a hands-on approach, helping Convion navigate the challenges of scaling its innovative technology, refine its product, and expand its reach. With strategic guidance and support, Convion became a leader in sustainable energy solutions.
Exit
As Convion grew, it positioned itself at the forefront of the global energy transition. Ultimately, VNT as the major shareholder, orchestrated a successful trade sale to Hyundai KSOE in 2024, validating the power of vision, operational expertise, and groundbreaking technology in shaping a cleaner, more sustainable future.
Environmental impact
Convion’s Solid Oxide Fuel Cells (SOFCs) offer a powerful solution to reduce emissions in energy generation. If Convion’s fuel cells replaced gas turbines worldwide, global gas consumption could be reduced by nearly half. SOFCs are highly efficient, converting fuel into electricity with minimal waste, and can operate on a variety of gases with almost zero exhaust emissions. This leads to a significant reduction in CO2 emissions, supporting the transition to a cleaner, more sustainable energy future.
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Merus Power:
Overview: Merus Power, founded by Kari Tuomala and his team in 2008, is driving the green energy transition by enabling easy grid connection and ensuring grid stability. The company’s innovative Energy Storage Systems and Power Quality Solutions help optimize energy use, reduce grid instability, and facilitate the integration of renewable energy sources. These solutions significantly reduce the reliance on fossil fuels, support cleaner energy grids, and contribute to a sustainable energy future.
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VNT Approach
Merus Power’s Successful IPO Journey with VNT’s Support
VNT Management has long been at the forefront of power electronics solutions, recognizing that the future of energy generation will rely on advanced converters and power electronics to replace traditional grid generators. As renewable energy sources like wind and solar introduce more variability and harmonics into the grid, the need for solutions that stabilize the network and maintain power quality becomes increasingly critical. VNT, acting as the lead investor and strategic advisor, saw the potential in Merus Power’s innovative Energy Storage Systems and Power Quality Solutions. From the very beginning, VNT provided more than just capital; their deep expertise in power electronics helped shape Merus Power’s strategy, guiding the company through the challenges of modernizing the energy grid. With VNT’s hands-on support, Merus Power’s solutions have become key enablers of the green energy transition, ensuring that the grid can handle the demands of a more sustainable, renewable-powered future.
Exit
Merus Power successfully completed its IPO in 2021, with VNT Management playing a pivotal role in guiding the company through the process. VNT’s strategic expertise helped ensure that Merus Power not only achieved its public listing but also stayed focused on its medium-term strategic targets post-IPO. Following the listing, VNT sold part of its shares in a secondary offering and continues to conduct block sales of shares, demonstrating confidence in Merus Power’s ongoing growth and its commitment to the green energy transition.
Environmental impact
Merus Power’s innovative solutions are helping customers reduce their carbon footprint significantly. Through their Energy Storage Systems and Power Quality Solutions, Merus Power contributes to an annual CO2 reduction of over 170,000 tons. This is equivalent to over 1,400,000 passenger flights between London and Madrid, showcasing the substantial impact these technologies have in supporting the green energy transition and promoting a cleaner, more sustainable future.
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Visedo:
Overview: Smart hybrid and electric drivetrains for electric vehicles across the marine, commercial vehicle and heavy-duty machinery sectors. Visedo powertrains are designed for hybrid and electric systems with power ranges of 30-2,000kW.
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VNT Approach
Built on a Vision, Driven by Action
Visedo Oy was founded by VNT Management in 2009 with a bold vision: to bring the same electrification advancements seen in the automotive industry to working machines. The founding management team, hired from Lappeenranta University and led by Kimmo Rauma, played a crucial role in turning this vision into reality. Recognizing the potential for cleaner, more efficient solutions in industries like construction, agriculture, and logistics, VNT aimed to drive the electrification of heavy-duty machines. To support this ambitious goal, VNT invited strategic partners such as Semikron, Axon Motor, and others to join as shareholders by bringing assets to the table, while VNT acted as the lead investor, playing a pivotal role in laying a strong foundation for innovation and growth. In 2016, with the continued support of VNT, Visedo expanded its system expertise in marine solutions by acquiring Dutch integration and development partner Electric Power Conversion, further strengthening its position in the evolving market for electrified marine propulsion systems. Through these partnerships, Visedo became a leader in electrifying heavy-duty applications on land and on sea, advancing the transition towards cleaner, more sustainable energy solutions across multiple sectors.
Exit
In 2017, Visedo was acquired by Danfoss, a respected power electronics powerhouse. Visedo had rapidly established itself as a strong player in the global power electronics market for vehicles, particularly in electrification solutions for heavy-duty machinery. Danfoss, with its extensive resources and deep expertise in power electronics, was the perfect partner to continue and scale Visedo’s growth. VNT Management, which had closely supported Visedo throughout its journey, played a key role in bringing the two companies together. With VNT’s longstanding relationship with Danfoss, the acquisition ensured that Visedo’s innovative solutions would continue to evolve and contribute to the global shift toward cleaner, more sustainable energy systems.
Environmental impact
In addition to their own innovations, Visedo also collaborates with technologies such as Danfoss’ Digital Displacement, conceived at the University of Edinburgh. This cutting-edge technology reduces energy consumption in hydraulic machines, further enhancing sustainability in heavy-duty operations. Danfoss estimates that global adoption of these technologies could reduce lifetime CO2 emissions of excavators by 80 Megatonnes (Mt) by 2030—equivalent to the total annual CO2 emissions of Scotland and Denmark combined.Through these combined efforts, Visedo is contributing significantly to decarbonizing heavy-duty sectors and helping industries reduce their environmental footprint.
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