Major investor Risto Siilasmaa left the board of the buzz company Donut Lab

The change application was submitted on August 10 and it entered into force on August 13.

The matter has been decided at the general meeting on the last day of July.

Donut Lab has been in the middle of an uproar this year, when its claims about solid-state batteries ready for mass production have been suspected of being exaggerated. The company has also communicated to potential investors about wild growth forecasts for the next few years.

Siilasmaa joined Donut Lab’s board of directors after a funding round in February 2025. According to the company’s press release at the time, Siilasmaa was the anchor investor of the round.

“Donut Lab has achieved incredible technological breakthroughs that make it possible to disrupt the entire global vehicle market,” Siilasmaa said in the press release.

The membership of one of Finland’s most well-known technology influencers on the board has brought credibility to Donut Lab in the eyes of investors and potential customers.

Siilasmaa’s investment company’s stake in Donut Holding was as requested in May list of shares according to about five percent.

However, Siilasmaa has not publicly wanted to take a position on the company’s controversial battery technology.

“I invested in Donut Lab because of its revolutionary electric motor. The motor’s power and torque are superior compared to any other electric motor. The motor is also a great opportunity to promote sustainable development, because it consumes less electricity,” Siilasmaa said in April of Helsingin Sanomat in the birthday interview.

“I give my own advice within the company. Of course, I require that the company operates ethically correctly,” he said For Kauppalehti in June.