Finnish startup Betolar is a new materials startup specialised in new geopolymer based carbon neutral construction materials for the construction industry and circular economy. The company has just announced closing a €2 million funding round, led by Voima Ventures, and joined by Taaleri Sijoitus Oy and Valve Ventures.
Increasing CO2 levels are affecting nature, food production, lives and economies with growing urgency. One of the biggest single contributors to these numbers is the use of cement as a construction material. In fact, cement produces more CO2 emission than the aviation industry. For decades the construction industry has not been able to answer the urgent need to decrease the CO2 emissions. Now, Betolar is changing that.
Founded in 2016, Betolar is transforming the construction industry by aiming to eliminate cement with their geopolymer technology, while turning any hazardous industrial side streams into value. They are offering a scalable AI empowered alternative construction material production with up to 80% less carbon emission compared to traditional cement. Besides emissions, Betolar can also reduce the need for virgin raw materials by using side streams like ash.
Betolar is looking to start production with one of Finland’s largest concrete product manufacturers, and is currently piloting with various industrial partners in both Sweden and Estonia, with the longer term aim to expand into Asia. For example in India alone cement consumption is two times that of Europe’s. CEO of Betolar, Matti Löppönen, explained: “There has been a strong pull for low carbon construction materials in Asia and we are currently preparing our entry to multiple markets”.
Betolar has now raised €2 million from deep tech fund Voima Ventures as the lead investor, joined by Taaleri impact fund and Valve Ventures. With the new funds, Betolar is looking to execute its first pilot projects and start the commercialization of the product to global markets.
“Betolar’s technology is truly challenging the carbon footprint and quality expectations we have for the construction industry and in particular the cement or concrete being used today. Climate change is a pressing matter, and together with Betolar’s industrial partners we are looking forward to being part of making the carbon friendly and new circular economy based construction industry a reality. The global potential is huge, not only for Betolar but for the whole industry and circular ecosystem”, said Inka Mero, Managing Partner of Voima Ventures.
“When Betolar succeeds they will achieve both excellent financial profit and significant environmental improvements through decreased CO2 emissions and raw material use. Thus, it excellently meets Taaleri Impakti’s investment criteria. We are happy to be involved in this round”, said Pekka Samuelsson, specialized investment fund Taaleri Impakti’s Investment Director.