Betolar Plc’s Board of Directors appointed Riku Kytömäki as the new CEO – the implementation of the company’s growth strategy continues

Betolar Plc, Company Release, 12 May 2022 at 8:10 a.m. EEST

Betolar Plc’s Board of Directors appointed Riku Kytömäki as the new CEO – the implementation of the company’s growth strategy continues

Betolar Plc’s (”Betolar”, ”Company”) Board of Directors and the CEO Matti Löppönen have mutually agreed that Löppönen will leave his position as the CEO of the Company. The Board of Directors has appointed Riku Kytömäki, currently President and CEO of Exel Composites Plc, as the new CEO of the Company. He will assume his duties not later than 12 November 2022. Matti Löppönen continues in his role as the CEO until Riku Kytömäki takes up his position.

Matti Löppönen has acted as the CEO of Betolar since the year 2020. ”With the joint courageous mindset of our employees and with the support of our customers, Betolar has grown into a pioneer green technology company during the past couple of years”, says Matti Löppönen. “I am grateful for the opportunity to participate in creating genuinely significant business and enabling the green revolution in the construction industry.”

”I thank Matti Löppönen on behalf of the Company and the Board of Directors for his excellent work and remarkable effort in building Betolar’s foundation, through the IPO process and in the successful launch of the commercial phase. The Board of Directors and Matti have mutually agreed that in the context of the Company’s globalization and transfer into the new scaling phase, it is the right time to hand over the position to a new CEO. We wish Matti success in the new challenges after the transition period”, says Tero Ojanperä, the Chairman of the Board.

Riku Kytömäki transfers to Betolar from his position as the President and CEO of Exel Composites Plc where he has worked since the beginning of 2014. During this period, the company has doubled its turnover and grown into a global company covering the Europe, China, India and North America.

Riku Kytömäki has a strong industrial background and experience in diverse international management positions. He has acted, among others, as the President of ABB Electrical Machines Ltd in China, Global Operations Manager for Business Unit Motors & Generators, and Global Product Group Manager for ABB Wind Power Generators. Before joining Exel Composites Plc, he served as head of ABB’s Large AC Motor business. He was born in 1971 and holds an M.Sc in Electrical Engineering.

”I am very pleased that Riku Kytömäki joins Betolar to lead the Company to the next phase and we look forward to the future cooperation. He has a strong industrial background in leading and building international business as well as scaling of new solutions”, says Tero Ojanperä, the Chairman of the Board of Directors of Betolar.

BETOLAR PLC

Board of Directors

More information:

Tero Ojanperä, Chairman of the Board of Directors, tel. +358 40 558 3096

Certified Advisor:

Skandinaviska Enskilda Banken AB (publ) Helsinki Branch, tel. +358 9 6162 8000

About Betolar Plc

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 AI-optimised 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 enable the green transformation of various industries globally, especially in the construction, process and energy industries by providing solutions to utilise its unique materials technology.

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