Company Releases

Betolar and the Danish IBF have signed a commercial agreement


Betolar Plc

Company Release, inside information
15 February 2022 at 11 p.m. EET

Betolar and the Danish IBF have signed a commercial agreement

Betolar Plc and IBF, Denmark's largest manufacturer of concrete products, have signed Geoprime® concept based commercial agreement until the end of year 2026. The agreement includes both IBF's parent company and its subsidiaries. The IBF Group operates primarily in the Danish market. The contract includes constantly improving material technology service, licence to use the registered Betolar® and Geoprime® trademarks in products manufactured according to the concept and chemical deliveries to the customer.

Under the agreement, IBF will start the production of concrete products this year using the Geoprime® concept developed by Betolar, which will replace cement with a slag-based binder. Geoprime® based production will be launched in phases. The first product group is sewage pipes, but the application areas will be expanded to other product groups based on the logistical availability of slag, and product testing and approvals.

“The agreement is significant for us, because with the agreement, Betolar will start to generate turnover on the international market with the launch of industrial production in Denmark. This customer contract is a good continuation to our previously signed commercial agreement in Finland,” says Matti Löppönen, President and CEO of Betolar Plc.

IBF's annual concrete production is approximately two million tons. IBF manufactures almost all kinds of products for the concrete industry. The industrial production of low-carbon concrete products, which will start this year, is primarily aimed at the Danish market.

“Last year, we tested the Geoprime solution with Betolar in different product groups. Infrastructure construction requires a wide variety of concrete products. Our cement-free concrete products help our customers achieve their goals,” says Product Chief Esben Mølgard of IBF.

The parties will not disclose the commercial value and terms of the license and supply agreements.

Betolar Plc

Further enquiries 

Betolar Plc:

Matti Löppönen, CEO, tel. +358 50 306 6335

Riikka Ylikoski, CFO, tel. +358 40 828 2632

Certified Advisor:

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

About IBF

IBF, which is one of the leading manufacturers of concrete products in Denmark and is family owned - have since 1960 worked with production, development and sales of paving stones, tiles, roof tiles, drainage, concrete readymix and customised solutions.

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