Carbodeon Appoints New CEO

May, 12, 2008

Dr. Vehanen brings extensive experience on materials industry

Helsinki, 12th May 2008 - Dr. Asko Vehanen has been appointed as CEO of Carbodeon Ltd Oy. Dr. Vehanen has a Ph.D. from Helsinki University of Technology (HUT), and over 20 years of expertise in materials industry. Dr. Vehanen has an illustrious academic career in materials physics at HUT (Finland) and Brookhaven National Laboratory (USA). In 1989 Dr. Vehanen joined the Finnish Outokumpu Group to manage the business and technology development of its Semiconductor Materials Group. Over the years Dr. Vehanen has held the positions of CEO, Executive Vice President, and Chairman in several Okmetic group companies in Finland, Sweden and USA. In 2005 Dr. Vehanen founded Norstel AB (Sweden), where he served as CEO and where he is currently the Deputy Chairman of the Board. His main roles have been in managing and developing businesses, with various responsibilities in strategic planning, R&D and sales and marketing.

Dr. Vehanen now brings his extensive R&D and industrial experience to Carbodeon to further accelerate its development into a leader in the nanodiamond and carbon nitride materials businesses. The previous CEO, Dr. Vesa Myllymäki, will continue as the CTO of Carbodeon, with global responsibility for technology and collaboration with strategic partners. "We are extremely enthusiasted about getting the experience of Dr. Vehanen to Carbodeon,” says Dr. Myllymäki. “He will be instrumental in taking Carbodeon to a new level of rapid growth. The growth of the global nanomaterials market is in double digits, and Carbodeon will now enter accelerated growth in this dynamic market."

“With the growth of Carbodeon from research and early stage manufacturing into full production stage, the appointment of a senior industrial entrepreneur shall boost the growth of Carbodeon significantly,” said Juhani Pääkkönen, Chairman of the Board of Carbodeon and CEO of Picodeon Ltd Oy. “We are looking forward to rapid expansion of Carbodeon’s business.”

Carbodeon supplies super hard materials for applications where toughness is at a premium. Our patented technologies offer superior opportunities to several fields of business. Our eight different grades of Ultra-Dispersed Diamonds -– also known as nano diamonds – each possess the desired properties fine-tuned for a growing number of dedicated applications. These grades are sold under the name uDiamond™. Similarly, our Nicanite™ graphitic carbon nitride can be converted to carbon nitride film coatings with unique properties.

For further information, please contact:

Dr Asko Vehanen, CEO Carbodeon Ltd Oy, +358 40 55 66 765, asko.vehanen [ ] carbodeon.com
Mr Juhani Pääkkönen, Chairman of the Bord Carbodeon Ltd Oy, +358 400 508 727. juhani.paakkonen [ ] picodeon.com
Dr Vesa Myllymäki, CTO Carbodeon Ltd Oy, +358 50 567 8828, vesa.myllymaki [ ] carbodeon.com