Betolar's CEO Riku Kytömäki at the Annual General Meeting: The mining business of Betolar has opened rapidly with customer projects
Betolar Plc
Press release 27.3.2024
Betolar's CEO Riku Kytömäki at the Annual General Meeting: The mining business of Betolar has opened rapidly with customer projects
In his presentation at the Annual General Meeting, Betolar's CEO Riku Kytömäki highlighted the great potential of mining operations for Betolar's business.
"There is a rapidly growing need and demand for green transition solutions in the mining industry. The orders we have signed with the mining industry players in Europe and Asia during the start of the year, provide a clear indication of the success of our strategic revision," Kytömäki said.
In spring 2023, Betolar updated its strategy, and its main focus shifted to identifying and productizing alternative side streams and developing new high-volume mining and construction solutions. The aim is to drive the green transition and support the carbon neutrality goals of the mining industry.
In late 2023, Betolar and Metso agreed on cooperation to offer Betolar's technology globally to mining and refinery customers using Metso's lithium hydroxide process. In early 2024, the company agreed on commercial assignments with two mining companies to analyse opportunities and create solutions for low-emission and waste-free mines. The targeted mines are not yet disclosed. In addition, last week it was announced that Betolar and Outokumpu have reached an agreement on the development of cement-free shotcrete, in which Betolar's material technology solutions will be utilised in the structures of Outokumpu's Kemi chrome mine.
"Using a cement-free solution is new in shotcrete. The order is an important opening for new structural solutions for the mining industry, which will radically reduce emissions from the mining industry," Kytömäki said.
Mines both produce a lot of side streams and need large amounts of concrete mass for their structures, where cement can be replaced with side stream materials. Betolar can add value throughout the industry's value chain. The solutions available in the short term focus on the utilisation of side streams as well as shotcrete and paste filling of mine tunnels. In the longer term, Betolar also offers solutions for tailings stabilisation and fractionation and recovery of precious metals, many of which are critical and strategic raw materials.
"Our solutions can, on one hand, reduce emissions from mining construction and, on the other hand, enable the circular economy in mines by using the by-products of mining in the mines or other areas, such as in building materials," Kytömäki says.
An important part of Betolar's growth is to research unused industrial by-products and productise them.
"The mining industry has large markets and international players, so scaling our solutions is faster and more efficient. By concentrating on side-stream-based solutions for larger customer relationships and higher value-added mining and construction materials will build the company's growth on a stronger foundation than before," Riku Kytömäki stated.
Betolar Plc
More information:
Riku Kytömäki, CEO, Betolar Plc, riku.kytomaki@betolar.com, +358 50 511 8288
About Betolar:
Betolar Plc is a Finnish materials technology company that offers sustainable and low-carbon solutions to drive green transition in construction and mining.
Betolar's Geoprime innovation significantly reduces carbon dioxide emissions from concrete by utilising new binders in concrete mix design, supporting solution development through advanced analytics and creating global markets for side streams. Betolar's mission is to help reduce CO2 emissions and the use of virgin raw materials.
Betolar was founded in 2016 and is domiciled in Kannonkoski, Finland. Betolar is listed on the Nasdaq First North Growth Market. More information www.betolar.com.
