Betolar Plc
Company Release
June 8, 2026 at 1:25 P.M. EEST
Inside information: Betolar has been granted €2.1 million in funding under the EU LIFE programme for the MINERVA project
Betolar Plc is participating in the MINERVA project (MINeral Efficiency, Recovery and Valorisation in the Arctic), which is funded by the European Union's LIFE programme. The project aims to develop and pilot new solutions to enhance the recovery of critical raw materials and reduce the amount of mining waste in Arctic conditions.
The MINERVA project will be carried out in the Sokli mining area in Eastern Lapland. The project focuses on circular economy-based mining and mineral processing solutions, the development of water use and water management, and the reduction of mining waste and environmental risks.
The total estimated cost of the MINERVA project is approximately €8.8 million, of which the EU LIFE programme's share is approximately €5.3 million. Betolar's share of the total costs is €3.4 million, of which €2.1 million is funding. The estimated duration of the project is approximately three and a half years. The funding will be drawn down over the course of the project.
Betolar's role in the project is based on the company's Metal Extraction Technology, which is used to increase the recovery of metals from mining fractions and to utilize the resulting sidestreams in the production of low-carbon circular cement, thereby minimizing waste.
"Participation in the MINERVA project strongly supports Betolar's strategic objective of demonstrating the practical performance of its Metal Extraction Technology. The project also accelerates the advancement of the technology's proof-of-concept phase and establishes a solid foundation for the development of new circular economy-based business," says CEO Tuija Kalpala.
Betolar participates in the project in the role of a technology supplier. The project does not change Betolar's previously issued financial guidance.
Betolar Plc
Further enquiries
Tuija Kalpala, President and CEO, Betolar Plc, tel. +358 50 567 6608, tuija.kalpala@betolar.com
Certified Adviser
Aktia Alexander Corporate Finance Oy, +358 50 520 4098
About Betolar
Betolar is a circular economy and materials technology company. Betolar was founded in 2016 and is domiciled in Kannonkoski, Finland. Betolar is listed on the Nasdaq First North Growth Market (ticker: BETOLAR), and its shares are also traded in the United States on the OTCQX International marketplace (ticker: BTLRF). For more information www.betolar.com.