Meriaura Group Oyj: Summa Defence establishing a joint venture with Ukrainian AI company Griselda

Meriaura Group Plc
Investor news 10 February 2025 at 9.30 a.m. (CET)

Summa Defence establishing a joint venture with Ukrainian AI company Griselda

Summa Defence Oy is establishing a joint venture with Ukrainian AI company Griselda, with Summa Defence holding the majority stake. The joint venture strengthens Summa Defence's technological capabilities in utilizing data and AI for creating real-time situational awareness.

Drones play a key role in data production. Griselda complements Summa Defence's drone system capabilities in creating situational awareness.

The collaboration aims to strengthen the defense capabilities of Europe and partner countries by developing and implementing advanced technologies that enable real-time, AI-assisted data processing at all stages, from collection and analysis to decision-making. This provides significant advantage on the battlefield, for example in Ukraine.

Summa Defence's company release is available at the company's website: https://summadefence.fi/en/releases/

Meriaura Group Plc and Summa Defence Oy to merge with a share exchange

On 29 January 2025, Meriaura Group Plc signed a conditional share exchange agreement to acquire the entire share capital of Summa Defence Oy, which brings together defence and security companies. The transaction will create a strong group of companies focusing on safety and security of supply in Finland, in which dual-use technology will play a significant role. In connection with the arrangement, the Marine Logistics business (Meriaura Oy and its wholly owned subsidiary VG-EcoFuel Oy) will be sold to Meriaura Invest Oy. The name of the new listed company will be Summa Defence Plc. The holding of Meriaura Group's current shareholders in the new group of companies will be 11.9%, and that of Summa Defence's shareholders will be 88.1%.

Meriaura Group's company release about the conditional share exchange agreement can be found at:

https://meriauragroup.com/meriaura-group-oyj-inside-information-meriaura-group-plc-and-summa-defence-oy-to-merge-into-a-new-group-of-companies-in-the-defence-sector/

MERIAURA GROUP PLC

More information:
Meriaura Group Plc
Jussi Mälkiä, CEO
Tel. [phone]
Email: [e-mail]

Summa Defence Oy
Jussi Holopainen, CEO
Tel. [phone]
Email: [e-mail]

Media enquiries:
Tommi Manninen, Chief Communications Officer
Tel. [phone]
Email: [e-mail]

Meriaura Group Plc in brief

Meriaura Group Plc has two business areas: Marine Logistics and Renewable Energy.

Meriaura Oy, which engages in the Marine Logistics business, is a major provider of transport for bulk cargo and demanding project deliveries in Northern Europe, especially in the Baltic Sea and North Sea regions. The company provides its customers with competitive low-emission marine transport services, which are based on long-term affreightment agreements, a modern fleet and the active development of operational sustainability. In addition, Meriaura has a strong market position as a marine transport provider in renewable energy construction projects.

The Marine Logistics business also includes VG-EcoFuel Oy, which produces biofuels from bio-oils and recycled oils generated as industrial by-products.

The Renewable Energy business focuses on comprehensive clean energy solutions. Meriaura Energy Oy designs and delivers clean energy production systems as comprehensive deliveries for industry and district heat production. Energy production is built around large-scale solar thermal systems implemented using high-performance solar thermal collectors manufactured by the company. The Renewable Energy business also includes Rasol Oy, which provides high-quality solar power systems for buildings, businesses and solar parks.

Meriaura Group's shares are listed on Nasdaq First North Growth Market Sweden under the symbol MERIS and on Nasdaq First North Growth Market Finland under the symbol MERIH.

www.meriauragroup.com

The company's Certified Adviser is Augment Partners AB, [e-mail], tel. [phone].