Betolar Plc
Press Release
9 September 2026 at 2.45 p.m. EEST
Betolar and ScaleWolf deepen strategic partnership
ScaleWolf, an investment and industrial development firm focused on scaling technologies and infrastructure that strengthen critical supply chains, energy security and defence capabilities, is deepening its strategic partnership with Betolar Plc through a planned direct investment in the new Metal Extraction Technology (MET) Oy and Critical Infrastructure Protection (CIP) Oy subsidiaries to be established by Betolar.
As announced in June, ScaleWolf and Betolar entered into a strategic partnership to commercialise Betolar’s proprietary metal extraction technology and jointly develop the Otanmäki mine tailings project, with the aim of creating value from mining waste streams.
Based on the continued positive development of the Otanmäki mine tailings project and further progress in validating Betolar’s proprietary technology, the parties have agreed that the next EUR 3 million of ScaleWolf’s original investment commitment will comprise a EUR 1 million subscription for additional convertible capital notes in Betolar Plc and EUR 2 million of direct equity investments in the new MET and CIP subsidiaries.
ScaleWolf is already committed to supporting the scale-up of Betolar’s metal extraction technology and will now also invest in developing and scaling critical infrastructure protection solutions designed to enhance resilience and operational security.
“Working closely with ScaleWolf has confirmed our shared interest not only in metal extraction, but also in critical infrastructure for subsea applications, power grids, data centres and defence. Together, we have chosen the path that we believe creates the most value. ScaleWolf’s direct investment in our new focused subsidiaries will support value creation for all our shareholders,” says Vibeke Krohn, CEO of Betolar.
The valuations of Metal Extraction Technology (MET) Oy and Critical Infrastructure Protection (CIP) Oy reflect the parties’ joint work on the Otanmäki mine tailings project, further progress relating to Betolar’s technology and ongoing critical infrastructure projects.
Metal Extraction Technology (MET) Oy has an agreed pre-money valuation of EUR 25 million and Critical Infrastructure Protection (CIP) Oy an agreed pre-money valuation of EUR 10 million. Following completion of the planned investments, ScaleWolf’s shareholdings would be approximately 4 per cent in the MET company and approximately 9 per cent in the CIP company.
The planned subsidiary investments are subject to the MET and CIP companies becoming sufficiently operational by mid-December 2026 and completion of the applicable definitive agreements. If such would not be the case, the EUR 2 million of ScaleWolf’s commitment will instead be invested in a further tap issuance of Betolar’s convertible capital notes.
Betolar will continue to operate as a capital-light technology platform and will retain ownership of its current and future intellectual property. The MET and CIP subsidiaries are expected to receive the relevant technology licences and pay licence fees and royalties to Betolar on arm’s-length market terms.
“The next phase of this partnership is about disciplined execution. Betolar brings differentiated technology, while ScaleWolf brings investment capacity, industrial-development expertise and access to strategic markets. The MET and CIP companies create focused platforms through which we can advance projects, attract additional partners and build meaningful industrial capabilities in Europe and the United States,” says Edvinas Kerza Partner of ScaleWolf.
In addition to the restructured funding described above, ScaleWolf intends to invest up to an additional EUR 8 million in aggregate in the MET company and a related project SPV by year-end, subject to agreement on definitive investment arrangements, as communicated in June.
Betolar Plc
More information
Vibeke Krohn, CEO & President, Betolar Plc, vibeke.krohn@betolar.com, +47 936 34 491
About Betolar
Betolar is a circular economy and materials technology company. Founded in 2016, the company is headquartered in Kannonkoski, Finland. Betolar is listed on the Nasdaq First North Growth Market Finland (ticker: BETOLAR) and its shares are also traded on the OTCQX International market in the United States (ticker: BTLRF). For more information www.betolar.com.