Betolar Plc
Company release / Insider information
29 March 2023 10:00 AM EEST
Betolar's Board of Directors has confirmed the company's updated strategy for the years 2023-2025. Target of the strategy is to be the most desirable partner in green transition for the construction, concrete, cement and mining industries. Strategy renewal is part of Betolar's long-term, continuous strategy review process.
"Betolar has focused in its strategy on the commercialization of its Geoprime concept and the launch of international operations through customer pilots, partnerships, development and testing of solutions. Betolar’s Geoprime concept has been proven to be effective in precast concrete products. Betolar is now prepared to accelerate growth in the construction elements and mining sectors, which offer attractive growth prospects for new cement-free products.Today we publish our updated strategy, which supports our goal to be a pioneer in solving global sustainability challenges related to construction and industrial environments. Our strong research and product development work continues and is gaining more speed from the data that is accumulated in different customer and product applications", says Riku Kytömäki, CEO of Betolar.
Updated strategy
Betolar will continue to implement its strategy presented during IPO process at the end of 2021 with refined emphasis. During 2022, the company implemented the strategy by launching commercial production of precast concrete products in Europe and Asia with its customers. In 2023, Betolar will move to a new phase in strategy implementation and prepares for scaling its business, driven by larger customer applications and increased demand for green transition. Betolar's previously announced long-term operational and financial targets remain unchanged, for more info see https://www.betolar.com/targets
Betolar’s updated strategy is based on five key themes that direct the company to
CEO Kytömäki: “One of the main conclusions from the company’s strategy review has been that the availability and price of side streams play a central role in value creation for our business. The increased demand of the current known side stream sources, especially in case of blast furnace slag and fly ash, has led to an increase in the prices of these raw materials, while the production quantities of blast furnace slag and fly ash will decrease globally in the longer term. Betolar starts to accelerate the development work related to alternative side streams to replace cement use in different customer segments. The prerequisite for this new direction is to take a stronger position in the side stream value chain, which enables better value creation potential in the future."
The company's core competencies and their development needs reflect updated strategic emphasis. Betolar is a continuously learning provider of low-carbon solutions, whose core competences are science-based material and side stream know-how combined with in-depth industrial knowledge.
The progress of the strategy is further discussed in Betolar's Business Review, which will be published on April 27, 2023.
More information:
Riku Kytömäki, CEO, Betolar Plc, riku.kytomaki@betolar.com, tel. +358 50 511 8288
Certified Adviser:
Aktia Alexander Corporate Finance Oy, +358 50 520 4098
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 industrial side streams into a cement substitute.
Betolar's artificial intelligence innovation can significantly reduce CO2 emissions compared to traditional cement-based concrete production by optimizing existing manufacturing processes, supporting solution development with 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. For more information: www.betolar.com