Betolar Plc
Company Release 4 February 2022 at 9:45 p.m. EET
Betolar Plc: Betolar and JA-KO Betoni have signed 10-year Geoprime license and supply agreements
HELSINKI, Feb. 4, 2022 /PRNewswire/ -- Betolar Plc and JA-KO Betoni Oy have signed a license agreement for the low-carbon Geoprime concept developed by Betolar. JA-KO Betoni acquires the right to utilize the Geoprime materials technology solution and related continuous research and development and expert services in the manufacture of its concrete products. The agreement also includes the right to use the registered Betolar and Geoprime trademarks in its products manufactured in accordance with the concept. In addition, the parties have entered into a supply agreement for the chemicals used in the Geoprime solution.
The term of the agreement is 10 years and it covers the right to use the Geoprime concept in all concrete products produced by JA-KO Betoni. The first applications for the Geoprime solution will be in dry cast concrete products such as various infrastructure products, pole foundations and electric car charging station stands.
The license fee paid by JA-KO Betoni is based on the volume of its Geoprime products and a regular fixed license maintenance fee. The parties will not disclose the commercial value or terms of the license or supply agreements.
"This is Betolar's first commercial license agreement leading to the start of industrial production. The collaboration with JA-KO Betoni is a significant demonstration of the functionality and acceptability of the Geoprime concept and materials solution developed by Betolar in the concrete industry. The agreement is a great step in the green revolution in the concrete industry and a response to the construction industry's need to bring low-carbon products to market," says Matti Löppönen, CEO of Betolar.
"The licensing and supply agreement with Betolar now enables significant development and manufacture of low-carbon concrete products, which will give JA-KO Betoni a strong competitive advantage and new business opportunities. In February, we will start production of Geoprime-products at our factory in Kokkola. This is a remarkable starting point for our company towards green, environmentally friendly construction," says Jaakko Eloranta, CEO of JA-KO Betoni.
Betolar Plc
Further enquiries
Betolar Plc:
Matti Löppönen, CEO, tel. +358 50 306 6335
JA-KO Betoni Oy:
Jaakko Eloranta, CEO, tel. +358 44 066 5635
Certified Adviser:
Skandinaviska Enskilda Banken AB (publ) Helsinki Branch, +358 9 6162 8000
About Betolar
Betolar Plc is a Finnish materials technology company that offers the production of sustainable and low-carbon concrete with the Geoprime solution. The solution converts several previously unused, massive industrial by-products into a cement substitute.
Betolar's artificial intelligence innovation can significantly reduce CO2 emissions compared to traditional cement-based concrete production by optimizing existing manufacturing processes. Betolar's mission is to enable the green transformation of various industries globally, especially in the construction, process and energy industries by providing solutions to utilise its unique materials technology. For more information, visit https://www.betolar.com/
About JA-KO Betoni
JA-KO Betoni Ltd is a professional concrete company based in Kokkola, Finland. It has a total of 50 years of experience from the concrete industry. The company offers its customers a wide range of concrete products and ready-mixed concrete as well as different tailored service concepts in Finland and in export projects.
JA-KO Betoni has ready-mixed concrete plants in Kokkola, Pietarsaari, Närpiö, Mustasaari and Seinäjoki. The plant manufacturing concrete products, such as manhole rings, pole foundations and concrete weights, is located in Kokkola. The foundry in Pietarsaari casts agricultural elements and other special products to satisfy customer needs. JA-KO Betoni is an independent subsidiary of Ruskon Betoni. http://www.jakobetoni.fi/home/
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