March 9, 2020

DAILY BRIEF: Co-working, bio refining, film and battery recycling

Finnish indie film project Gone (POISSA) about a husband and father who is teleported around the world gets awarded in Portugal.
Black Lion Pictures

All the daily Finnish business news that works: Innovation House Finland, Vapo, Fortum and Finnish film make headlines.

Innovation House Finland expands to the US, Vapo secures coin for a new bio refinery project, Finnish film Gone (POISSA) wins at Fantasporto, and Fortum and partners start collaboration on battery recycling for electric vehicles.

Innovation House opens in Los Angeles

Finland’s fastest growing co-working concept, Innovation House, has opened a new location near Santa Monica Beach in Los Angeles, the US. The soft opening of the branch took place on 8 March, and it will serve as a business community and growth platform for Finnish and international companies entering the US market. The first residents are Finnish chocolate company Goodio, airline Finnair and ice treatments provider Cryotech Nordic. Innovation House has grown in less than three years into a community of over 150 companies and 1 000 members across its locations in Finland, Singapore and now Los Angeles.

Innovation House Finland

Vapo secures EUR 5 million in Business Finland funding

Finnish company Vapo has received substantial funding from Finnish public funding agency Business Finland to launch Vapo Refinery, a programme to refine organic wetland biomass into several high-value-added products for international markets. The funding also allows the company and its research partner, the University of Jyväskylä, to create a temporary tenure track position at the university to advance the circular economy ecosystem with new refined products. Vapo believes the products from its programme will generate revenues of nearly 100 million euros in 10 years’ time, a number that could double if the programme’s parters are considered as well.

Vapo

Finnish film is critics’ choice at Fantasporto

Arttu Haglund’s Gone (POISSA) has won the Critics Award at Fantasporto, the international film festival of Porto, Portugal. The festival focuses on genre films and is the country’s primary annual film event, which this year screened around 70 films, only three of which were from Europe. Gone was well-received by the Portuguese viewers, with director Haglund and leading actor Panu Tuomikko on hand to accept the award. Realised over a nine-year period, the film tells the story of a Finnish dad and husband who starts to inexplicably teleport around the world.

Black Lion Pictures

Finnish battery industry actors start recycling collaboration

Fortum, BASF, and Nornickel have signed a letter of intent to plan a new battery recycling cluster in Harjavalta, Finland, to serve the electric vehicle (EV) market. The partners plan to re-use the critical metals present in used batteries in order to enable significant CO2 reductions in the production of EVs. Fortum’s director of recycling and waste solutions, Tero Holländer, says the company has the ability to increase the recovery rate of valuable materials in lithium-ion batteries from 50 to over 80 per cent. German company BASF intends to use the recycled materials at its planned battery materials precursor plant in Harjavalta, while the process would allow Russia’s Nornickel to lower the CO2 footprint of its nickel refinery in Harjavalta.

Fortum

Good News from Finland is published by Finnfacts, which is part of Business Finland.

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