RYM Oy goes into voluntary liquidation – new options presented at general meeting

RYM Oy goes into voluntary liquidation – new options presented at general meeting

The general meeting of RYM Oy held on March 17, 2016 decided unanimously to put the company in voluntary liquidation. Attorney Mikael Salmi was appointed liquidator and Arto Hyvönen his deputy, both from Ylikraka Attorneys-at-Law.

RYM Oy was founded in 2009 as the Strategic Center for Science, Technology and Innovation of the Built Environment in Finland. The primary reason for ending the company’s operations is that it is no longer possible to get public financing for innovation activity based on the SHOK companies.

Supported by Tekes, companies have invested about €66 million in three RYM Oy research programs. The PRE program boosted the breakthrough of BIM in the real estate and construction sector. The multidisciplinary RYM Indoor Environment Program brought strongly to the fore user experiences, especially in the development of working and learning environments. The EUE research program that has laid the foundations for new ecosystems, business models and use of city models in urban development expires at the end of April 2016.

At present, it appears that the liquidation process of RYM Oy will continue until late in 2016. All the company’s obligations and commitments will be clarified and taken care of responsibly until it ceases operations.

Options for using the capital released from the company

The capital to be paid back to the shareholders of RYM Oy is €1.5 to 1.7 million. They were given two examples of how they can utilize the freed up capital to develop the sector’s and their own innovation activity.

Tampere University of Technology proposes the establishment of a doctoral school for the built environment. It is possible to get matching funding of up to three times the donations made to the core capital of TUT Foundation for that purpose from the State. The doctoral school would engage in interactive, interdisciplinary and business-oriented research.

Another presented option involved building an innovation process and platform focusing on start-ups and development and risk financing of new business models arising from them. Nestholma Venture Accelator and Butterfly Ventures are members of the consortium behind that proposal.

FOR MORE INFORMATION

Mikael Salmi, Liquidator, Ylikraka Attorneys-at-Law, Phone +358 40 546 4435, mikael.salmi@ylikraka.fi

Ilari Aho, Chairman of RYM Oy Board until March 17, Phone +358 40 707 7130, ilari.aho@uponor.com

Ari Ahonen, CEO of RYM Oy until March 17, Phone +358 400 618 300, ari.ahonen@rym.fi

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