Inside information: Betolar initiates change negotiations as it focuses on fast-evolving solutions for side stream, mining and metals industries

Betolar Plc

Company Release/Inside Information

22 April 2024 at 9:30 EEST

Inside information: Betolar initiates change negotiations as it focuses on fast-evolving solutions for side stream, mining and metals industries

Betolar Plc (“Betolar”, “Company”) has decided to initiate change negotiations on 29 April 2024. The Company aims to implement a strategic realignment to meet the rapidly changing demand for green transition needs of the side stream, mining, and metals industries. As the market situation remains challenging, the aim is to reduce the investment in concrete products.

Betolar’s solutions meet the growing demand for low-carbon mining solutions to replace cement, recovery of critical and strategic value fractions and the significant use of carbon dioxide in various solutions to process high-volume side streams in mines. To support the realization of these objectives, the Company plans to strengthen its specific expertise in the side stream, mining, and metals industries on a customer value basis and to increase external partnerships.

The negotiations concern the entire Finnish personnel. At the same time, the Company’s personnel working outside Finland will be reviewed at group level. The Company is planning changes to its organizational structure and a reduction of fixed costs. According to preliminary estimates, the change negotiations may also lead to changes in teams and roles.

Betolar employes 51 permanent employees in Finland. Betolar estimates that the change negotiations may result in the termination of employment for up to 20 employees. The number of possible redundancies will be specified during the negotiations. In addition, change negotiations mean changes in the job descriptions of the remaining employees.

Betolar will communicate openly and actively with its personnel throughout the negotiations process and will publicly announce the outcome after the negotiations have been concluded.

Betolar Plc

Board of Directors

More information:

Ilkka Salonen, Chairman of the Board, tel. +358 45 359 4434

Certified Advisor:

Aktia Alexander Corporate Finance Oy, +358 50 520 4098

About Betolar Plc

Betolar Plc is a Finnish materials technology company that enables 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 resources.

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