Betolar Plc

Investor News

24th November 2022 at 4:00 p.m. EET

Betolar expands significantly its innovation center in Kannonkoski, Finland

Betolar Plc has made an investment decision to expand its innovation center in Kannonkoski, Finland next to its current premises. Innovation center's new expansion includes 1000 sqm warm space and the value of the investment is approx. 0.8 million euros. An investment grant will be applied from ELY Centre in the Middle of Finland, which would be 25% of the total costs.

The expansion of the innovation center will enable scaling of the laboratory operations, and implementation of larger and more diverse innovation programs. It will also enable research of new side streams and testing of larger elements in standardizable environment.

"We have planned this expansion of the innovation center already before listing of the company where we sought proceeds also for this project. The new innovation center is important for the development of a binder that does not require sidestreams, as well as for optimizing the properties of sidestream-based binders. Betolar's solutions will expand into construction elements, mining and ground stabilization so larger spaces are more than needed to support our growth. We also need more laboratory capacity and this expanded center enables growth of our testing operations and development of our new innovations", rejoices Juha Leppänen, Chief Innovation Officer at Betolar Plc.

[image]

"With this investment we will move forward along the strategy which was published during Betolar's listing phase. This will guarantee the development, growth, and competitiveness in the changing markets. We want to invest into supporting our innovations by providing modern testing facilities in our home ground Kannonkoski", states Riku Kytömäki, President and CEO of Betolar Plc. 

The expansion of the innovation center is expected to be ready during H1/2023.

Further information:

Riku Kytömäki, President and CEO, Betolar Plc, riku.kytomaki@betolar.com,tel. +358 50511 8288

About Betolar

Betolar Plc is a Finnish materials technology company that offers the production of sustainable and low-carbon concrete with the Geoprime® solution. The solution converts several previously unused high-volume industrial side streams into a substitute for cement.

Betolar's innovation can significantly reduce CO2 emissions at a competitive cost compared to conventional cement-based concrete manufacturing, leveraging the existing manufacturing processes. Betolar's mission is to help to reduce CO2 emissions and the usage of virgin raw materials in construction.

Betolar was founded in 2016 and is headquartered in Kannonkoski, Finland. Betolar is listed on the Nasdaq First North Growth Market. www.betolar.com