Pyynikin's founder Tuomas Pere in a taproom
 Pyynikin Brewing Company is growing rapidly out of Tampere. Image: Pyynikin Brewing Company

DAILY BRIEF: Beer, battery recycling, funding and water treatment

All the daily Finnish business news that works: Pyynikin, Fortum, Calqulate, Leadoo MT and sustainable water treatment make headlines.

Rasmus Hetemäki


Fortum ramps up EV battery recycling in Finland, Calqulate and Leadoo Marketing Technologies secure financing, Pyynikin is set to acquire a big brewery in Estonia, and Kuopio Water Cluster‘s Eero Antikainen shares his views on sustainable water treatment. Click on the headlines for more in-depth information about each piece of news.

Fortum expands EV battery recycling operations

Metals extracted from used batteries

Finnish energy company Fortum is expanding its battery recycling operation by opening a mechanical recycling processing plant in Ikaalinen, Finland, in February. The plant is expected to employ up to 20 people and complement the company’s hydrometallurgical pilot facility in Harjavalta, Finland. The rapid adoption of electric vehicles means there is increasing need for the materials and chemical elements that batteries contain, such as lithium, nickel, cobalt and manganese. New EU directives will also require better recycling of the valuable raw materials. Fortum has already brought its recycling capabilities to industrial scale and developed a method for recovering up to 95 per cent of the valuable metals of batteries. Image: Fortum

Calqulate raises EUR 1.5 million

Calqulate co-founders Niko and Osama on a couch

Finnish financial technology company Calqulate has raised 1.5 million euros from American and European investors in a round led by and participated by 70V, River Venture Partners and business angels. The company automates financial forecasting and reporting for startups and growth companies, providing them with actionable insights and greater clarity for making successful decisions. The financing will enable it to expand to the US at the beginning of the year and develop further financial models for its platform. The less than two-year-old company has grown into a 30-person team with offices on three continents, in Helsinki, Paris, San Francisco and Vilnius. Image: Calqulate

Leadoo secures EUR 5 million series-A funding

The Leadoo MT team cheering

Leadoo Marketing Technologies has raised five million euros in a series-A funding round organised by investment house Springvest. Existing investor Open Ocean participated in the fully subscribed investment round, the second largest carried out by Springvest. Leadoo MT creates chatbots and tools that enable companies to convert leads and increase sales on their websites. Founded in 2018, Leadoo MT is off to a strong start in the huge marketing technology market, having already acquired some 700 customers in Finland, Sweden and the UK. The company was also recognised as the best B2B lead generation service in 2020 at the international Martech Breakthrough Awards. Image: Leadoo Marketing Technologies / Facebook

Pyynikin to buy Estonia’s third largest brewery

Haljala's brewery in Estonia

Finnish brewery Pyynikin has made a preliminary agreement to purchase the Haljala beer factory in Estonia, the country’s third largest in terms of production volume and capacity. The deal covers the real estate and equipment of the brewery, which has been run for almost 30 years by Danish-listed company Harboes Bryggeri. Pyynikin urgently needed to find new production space to keep up with orders and plans to produce also soft drinks and other beverages in Haljala. Last spring, the Tampere-based brewery was listed as the fastest growing brewing company in Europe by The Financial Times. Image: Pyynikin Brewing Company

Eero Antikainen: Sustainable water sector development

Eero Antikainen headshot picture

In our opinion piece this week, Kuopio Water Cluster’s Eero Antikainen considers sustainable development in the water sector. The challenges include water treatment in the mining and pulp and paper industries, as well as water loads in agriculture and groundwater management. Read how Finland approaches the challenges and what Antikainen thinks is the route to more sustainable water management by clicking the headline.

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