#Finland #Betolar #Kannonkoski #MINERVA Project #EU LIFE

Betolar Secures EU Funding for Innovative MINERVA Project

Betolar Plc, a pioneer in circular economy and materials technology, has been awarded €2.1 million in funding from the European Union's LIFE programme to support its involvement in the MINERVA project. This initiative is focused on enhancing mineral efficiency and optimizing the recovery of critical raw materials in challenging Arctic conditions, specifically in the Sokli mining area of Eastern Lapland.

Overview of the MINERVA Project

The MINERVA project's primary objective is to develop innovative solutions aimed at reducing mining waste and environmental impact, while efficiently recovering essential materials. With a total estimated cost of about €8.8 million, the project stands as a significant commitment towards sustainable mining practices. The European Union's LIFE programme will contribute approximately €5.3 million to the initiative, while Betolar's total involvement will amount to €3.4 million, including the recent funding of €2.1 million.

The project is expected to span about three and a half years, during which it aims to establish a circular economy-focused approach to mining and mineral processing. This includes not only improving the recovery processes but also ensuring more efficient water management and minimizing environmental risks associated with mining activities.

Betolar's Contribution

As a key player in the MINERVA project, Betolar's role is to apply its advanced Metal Extraction Technology. This innovative technology is designed to enhance the recovery of metals from mining fractions. Furthermore, it allows for the utilization of byproducts from this process in the production of low-carbon circular cement, aligning with Betolar's commitment to minimizing waste and promoting sustainability.

CEO Tuija Kalpala emphasizes how vital this project is for the company. She stated, "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."

The MINERVA project not only underpins the value Betolar brings to the mining sector but also showcases the importance of integrating circular economy principles to drive innovation and sustainability.

Future Prospects

Looking forward, the engagement in the MINERVA project positions Betolar favorably in the market, highlighting its role as a technology supplier that contributes to a more sustainable future in the mining industry. This initiative is set to pave the way for further advancements in sustainable resource management, addressing the growing demand for environmentally responsible mining practices.

In conclusion, Betolar is taking significant strides towards transforming the mining industry through innovative technologies and practices. The EU funding marks an important milestone in their ongoing journey towards sustainability and resource efficiency, reinforcing the necessity of collaborations between industries and governmental bodies to create a greener future.

For further inquiries, please contact Tuija Kalpala, President and CEO of Betolar Plc at +358 50 567 6608.

About Betolar

Founded in 2016 and headquartered in Kannonkoski, Finland, Betolar specializes in circular economy and materials technology. The company is listed on the Nasdaq First North Growth Market and the OTCQX International marketplace, emphasizing its commitment to sustainable innovation in material utilization.