Safegrid Appoints New CEO to Drive Next Growth Phase

Safegrid Enters a New Phase of Growth with Leadership Change: We are proud to announce the appointment of Ms. Paula Laine as our new CEO. Bringing a wealth of experience in technology and sustainable energy solutions, Ms. Laine is set to steer Safegrid toward new heights in the smart grid sector. Discover more about our exciting journey ahead

Safegrid Appoints New CEO to Drive Next Growth Phase

Ms. Paula Laine to lead the company into a new era of smart grid solutions

HELSINKI, Finland – November 24, 2023 – Safegrid, a leader in smart grid monitoring solutions, announced today the appointment of Ms. Paula Laine as the new Chief Executive Officer, effective 17th of December 2023.

Safegrid, with over 42 customers across Europe, the United States, Asia Pacific, and Africa, is a leader in smart grid monitoring and predictive fault location. The company’s Intelligent Grid System™employs instant-on wireless sensors, cloud-based monitoring, and analytics to help utilities locate, predict, and prevent grid faults,  thus improving grid performance.

“Electrification is central to mitigating and adapting to climate change. When leaving the Finnish Climate Fund, it was clear to me that I wanted to continue working with climate solutions and the enormous opportunities their adoption will bring. Safegrid has a critical role in enhancing smart grid capabilities, making distribution networks more stable and scalable in the face of ever more frequent extreme weather events as well as increasing renewable energy production. When I was introduced to Safegrid, its talented team, technology, and prospects, I was thoroughly impressed. This company has all it takes for fast international growth in the coming years. “I am honored to join Safegrid and look forward to steering the company through its next phase of innovation and growth,” said Ms. Laine.

Ms. Laine is a seasoned leader with extensive experience in technology, sustainability, and strategic development. Immediately before joining Safegrid, she served as CEO of the Finnish Climate Fund, a significant contributor to climate solutions and emission reduction. Under her leadership, the Climate Fund has made more than twenty funding decisions, amounting to 165 million euros, and created a robust portfolio of climate solutions.

Prior to her role at the Climate Fund, Ms. Laine served in a leadership role at Sitra, the Finnish Innovation Fund, where she was responsible for strategy management, impact evaluation, and foresight, with a focus on sustainability, climate, and circular economy. Prior to that, Ms. Laine had a ten-year career at Nokia, most notably as the  Vice President of the Entry Category Go-To-Market, where she oversaw global strategy and market initiatives for the company’s entry-level devices – a multi-billion-dollar business. In this role, she led a global team and managed the successful launch of over ten devices worldwide. Ms. Laine holds an M.Sc. degree in Engineering from Aalto University.

The Chairman of the Board of Safegrid, Mr. Olli-Pekka Kallasvuo, comments: “Paula is a driven, ambitious, and well-liked leader who gets the job done and empowers her teams to perform at the highest level. I am delighted that Paula has agreed to join Safegrid.”

Mr. Jussi Hakunti, the outgoing CEO, will assume the role of Chief Development Officer. He will work closely with Ms. Laine, ensuring continuity and collaboration in strategic initiatives. “I am excited to collaborate with Paula and confident that her leadership will greatly benefit Safegrid’s future,” Mr. Hakunti stated.

With an annual growth rate of over 250%, Safegrid is on track to become a leading provider of advanced fault indication and predictive maintenance solutions for smart grid operators. The company is gearing up to introduce new, innovative features to further establish its leadership in this sector. As the United States and the European Union are making significant investments to upgrade their grid infrastructures, the demand for sophisticated technologies to monitor, control, and maintain electrical grids is on the rise. This evolving landscape offers a considerable opportunity for Safegrid, an opportunity that Ms. Laine is poised to seize as the new CEO.

About Safegrid

Safegrid is the creator of the Intelligent Grid System™, which employs instant-on wireless sensors, cloud-based monitoring, and analytics to help utilities locate, predict, and prevent grid faults, thus improving grid performance. Safegrid is backed by Ajanta Innovations, Grid.VC, Teollisuussijoitus, leading angel investors, and Business Finland. Safegrid is based in Helsinki, Finland.

For further information, please contact:

Olli-Pekka Kallasvuo
Chairman of the Board

Jussi Hakunti

Paula Laine
CEO, from 17.12.2023

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