Betolar attracted significant investors during its fundraising round earlier this year
HELSINKI, September 16, 2021 / PRNewswire / – Materials technology company Betolar has raised 5 million euros from Finnish and international investors in its first round of financing to accelerate its product development work and strengthen its market position. The biggest investors in the round were Nidoco, Kiilto Ventures, Ahti Invest and Kilo Invest.
“With this significant capital injection, we will be able to further increase our solid product development and industrial market openings in Betolar’s current development phase. It’s great that professional value-added investors have recognized our potential and are getting involved in supporting work to reduce CO2emissions from construction ”, says Matti Löppönen, CEO of Betolar Oy.
Betolar offers low carbon construction solutions that do not increase costs compared to current alternatives.
He continues: “This year we have already agreed and are currently agreeing on several cooperation projects with companies related to building materials.
The sustainable development of Betolar is supported by an identifiable capital
The main investor in the investment round was Nidoco AB of Sweden. Nidoco is an independent part of the Virala group, which belongs to Alexanderand Albert Ehrnroot. Nidoco has also expressed interest in participating in future funding rounds.
“Betolar is a very interesting investment, because the world market for building materials represents hundreds of billions of euros, a fraction of which allows massive growth. Betolar’s Geoprime technology solution will positively change the environmental impact of building materials. We want our capital to support the journey of these companies to the international market, ”says Patrick Castrén, CEO of Nidoco, justifying Nidoco’s participation in the round table.
Kiilto Ventures is part of Kiilto, owned by the Solja family. Kiilto Ventures’ goal is to find innovations and enter into partnerships that support Kiilto’s strategic goal of being the environmental leader in its field.
“Kiilto is a family business with a century-old history and a vision turned towards 2080. We are very competitive right now, but the world is changing rapidly. We need to have the perspective of tomorrow and that is why we are innovating. Working on many levels. Developing the environmental responsibility of the construction industry is one of the most important trends for the future, ”says City Solja, Director of Business Development at Kiilto.
Solja also sees opportunities for business cooperation with Betolar. In addition to construction, solutions range from industrial adhesives and fire protection to professional and consumer hygiene products.
“We have complementary know-how and a base of common values in our environmental thinking, on which it is good to build together. In addition to an attractive capital investment, we find the opportunity to jointly develop low carbon solutions very interesting, ”Solja said.
Betolar’s low carbon solution replaces cement
Betolar has developed a low-carbon Geoprime solution to replace cement in cement-based building materials. The solution uses secondary streams of materials from various industries as binders and aggregates for building materials.
Geoprime solutions use in-depth research data from different sub-streams. Betolar’s business is to produce a new type of recipe for the needs of the building materials industry, which does not require significant changes to existing production processes. In the production process, binders and aggregates are replaced by materials from industrial secondary streams.
Betolar has successfully implemented technological solutions of materials for the concrete industry, for example for the production of environmentally friendly pavers. The selection of possible product groups ranges from fine chemicals to large mass product groups.
“Significant environmental benefits arise in two ways. First, replacing cement with materials from industrial secondary streams will significantly reduce CO emissions.2raw material emissions, up to one-fifth of current levels. Second, the use of secondary streams in the production of building materials significantly reduces the use of pristine natural resources, ”explains Juha leppänen, the founder of Betolar, who is responsible for the technological development of Betolar.
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