- Business
- Lehto Group Oyj is a Finland-based company focused on electricity storage project development and energy construction services. The company offers development, construction, and operation of battery-based electricity storage facilities for reserve and wholesale electricity markets; project-specific financing arrangements including loans, leasing, and installment plans for batteries; and related technical planning, grid connections, and permitting services. It previously provided modular construction of residential apartments using wood and concrete, business premises including retail, logistics, warehouse, production, leisure, shopping centers, and offices, as well as social care facilities such as care homes and assisted living units, educational premises like schools and daycare centers, and pipeline renovation services, though these operations have largely been discontinued amid restructuring. Lehto Group Oyj operates primarily in Finland, with projects targeting Nordic energy markets, and maintains factory assets including those of subsidiary Lehto Components Oy for potential sale or utilization. Founded in 2008 and headquartered in Kempele, Finland, the company has undergone significant strategic shifts in the past 1-2 years, including a pivot from traditional construction to electricity storage in 2024-2025, completion of two small reserve market facilities and construction of five projects totaling 2.2 MW capacity by mid-2025, development of 12 additional projects with 55 MW capacity slated for partial completion by end-2025, a May 2025 partnership with Desay Battery for 200 MWh energy storage frequency regulation in Finland and Nordic regions using liquid-cooled container systems, conversion of a convertible bond in January 2025 issuing 75 million new shares increasing CEO Hannu Lehto's stake above 51% before adjustment, asset sales including EUR 0.3 million from Lehto Group and Lehto Components to reduce restructuring liabilities, ongoing restructuring proceedings with bank financing agreements replacing prior EUR 32 million facilities, reduction of restructuring liabilities by EUR 0.3 million in first-half 2025 leaving EUR 1.8 million pending, and plans to transfer share trading from Nasdaq Helsinki main list to First North Growth Market in first-half 2026.