Sirviö led finance at Terrafame as its net sales grew to about EUR 560 million
During Sirviö’s ten years as CFO, Terrafame’s net sales grew from around EUR 2 million to about EUR 560 million in 2025, and he played a central role in securing about EUR 240 million for its battery chemicals plant. At Betolar, he will lead finance and investor relations.
“Ville helped build Terrafame into a Finnish metals company with more than half a billion euros in net sales and secured the financing to get there. That is the experience we need now that Betolar has moved from technology development to commercial execution,” says Vibeke Krohn, President and CEO of Betolar.
Wirkkala leaves after joining from Neste in 2024
Wirkkala started at Betolar in September 2024. He joined from Neste, where he worked from 2008 to 2024, most recently as Vice President of Group Finance responsible for the group’s external reporting and global financial processes, and had earlier been part of business unit leadership teams including Renewable Products.
“We thank Mikko Wirkkala for his contributions to Betolar and wish him the best in onward journey outside Betolar,” says Krohn.
Betolar added US trading, EU grant funding and bank debt during Wirkkala’s tenure
In August 2024, shortly before Wirkkala started, Betolar raised EUR 2.35 million in a directed share issue. In January 2026, its shares began trading on the OTCQX International marketplace in the United States under the ticker BTLRF, alongside its listing on Nasdaq First North Growth Market Finland.
In June 2026, Betolar was granted EUR 2.1 million from the EU LIFE programme for its MINERVA project. The same month, it signed a EUR 3 million term loan with Danske Bank, maturing in November 2028 and guaranteed by the European Investment Fund and Virala. In September, partner ScaleWolf agreed to invest EUR 2 million directly in two new Betolar subsidiaries and EUR 1 million in additional convertible capital notes in Betolar.
Net sales rose and the EBITDA loss narrowed from 2024 to 2025
Betolar’s net sales were EUR 946,000 in 2025, against EUR 762,000 in 2024, and EBITDA was EUR -3.7 million, against EUR -5.8 million. In H1 2026, revenue was EUR 902,000, against EUR 417,000 a year earlier, and EBITDA was EUR -2.1 million. Liquidity and undrawn grants totalled EUR 12.7 million at the end of June.
Follow moves like this on the Listeds Executive Intelligence Platform.
