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Vibeke Krohn, executive chair of Infinited Fiber, will join Betolar Plc as president and CEO on Aug. 1, 2026, as the Finnish materials technology company accelerates commercialization of its metal extraction technology and critical infrastructure protection businesses.
Krohn succeeds Tuija Kalpala, who will remain in the role through July 31 before transitioning to executive advisor through the end of 2026, the company focused on metal recovery and low-carbon construction solutions announced yesterday.
The leadership change comes days after Betolar sharpened its focus on metal extraction technology and critical infrastructure protection as its two primary growth areas. Kalpala will support the transition to ensure continuity as the company scales those operations.
Betolar is turning to Krohn's experience in scaling industrial and sustainability-focused businesses as it seeks to convert technology development into larger commercial opportunities. Krohn most recently served as executive chair of Finnish textile circularity company Infinited Fiber and previously was CEO of Tomra Textiles, part of Norwegian recycling technology group Tomra Systems. Earlier in her career, she was an associate partner at McKinsey & Company and held international leadership positions across the telecom and financial services sectors.
"I am excited to join Betolar at a pivotal time for the company," Krohn said. "I am truly impressed with the Betolar deep materials technology expertise and see great potential in developing solutions with customers and partners to meet global needs. I am delighted to join the team to accelerate commercialization and create long-term value for shareholders."
Experience aligned with Betolar's next phase
Krohn's background closely matches the company's current priorities. At Tomra Textiles, she gained experience in industrial waste stream recovery and resource efficiency, capabilities that align with Betolar's efforts to extract critical and strategic metals from mine tailings and industrial sidestreams. At Infinited Fiber, she helped guide the commercialization of a deep-technology circular economy company, offering a relevant blueprint for Betolar's own journey from technology development to broader market adoption.
Board Chair Anders Dahlblom said Krohn brings "a strong track record in leading growth companies and commercialization of technology-based solutions," adding that her experience is "well aligned with Betolar's strategic focus and the opportunities we see in our selected growth areas."
Kalpala leaves after advancing technology and commercial milestones
Kalpala departs after leading Betolar through a period of transformation. During her tenure, the company advanced its metal extraction technology, which it says can recover up to 99% of critical and strategic metals from mine tailings, and secured its first commercial order from Anglo American for the Sakatti project.
She also oversaw record order intake of EUR 2.3 million in 2025, more than double the prior year, and guided the company's expansion to the OTCQX International marketplace in the United States.
"I would like to thank the entire Betolar team as well as our partners and stakeholders for the collaboration during my tenure," Kalpala said. "Having brought the company to this stage, I am pleased to hand over the leadership to Vibeke Krohn."
The transition follows several management changes over the past 18 months, including the appointment of Chief Growth Officer Jyri Talja in April 2025 and Executive Vice President, Circular Materials, Amir Wafin in December 2025, reflecting the company's increasing focus on commercial execution.
What the company aims to accomplish
Krohn takes over as Betolar enters a critical execution period. The company's first priority is scaling its metal extraction technology from demonstration projects to industrial deployment.
A key milestone is the EUR 2.1 million EU LIFE-funded MINERVA project in Eastern Lapland, which is expected to run for about three and a half years. Betolar says the project will demonstrate the technology under Arctic mining conditions and help advance it beyond the proof-of-concept stage.
The second priority is commercializing its critical infrastructure protection business. Betolar has developed modular protective structures for electrical substations using its materials technology platform. A letter of intent signed with Enersense International in May 2026 provides an early commercial route into a market supported by rising investment in European electricity grids.
Financially, Betolar is targeting positive EBITDA by the end of the fourth quarter of 2027. The company plans to reach that milestone through growth in circular materials sales, infrastructure-related projects, and broader commercialization of its technologies.
Financial momentum supports transition
Betolar enters the leadership transition with improving commercial indicators. First-quarter revenue increased 169% year over year, while order intake rose 146%.
The EBITDA loss narrowed 3.5% from a year earlier, and the company reaffirmed guidance that net sales will grow significantly in 2026.
Cash and short-term investments declined 23% from year-end 2025 to EUR 5.2 million at the end of the first quarter, though management has pointed to growing order activity, new customer projects and technology deployment as drivers of future growth.
Investor watchpoints
Investors are likely to focus on Krohn's initial strategic priorities after she takes office in August and on whether additional management appointments follow.
The company's half-year review on Aug. 12 will be Kalpala's final major financial disclosure and Krohn's first as CEO. Performance against the record first quarter will provide an early indication of whether commercial momentum is continuing.
Further progress on the MINERVA project will be closely monitored as a key technology validation milestone. Investors will also be watching whether the Enersense letter of intent converts into a full commercial agreement, a step that could determine the pace at which the critical infrastructure protection business scales.
With these factors combined, the leadership transition comes at a pivotal point for Betolar as it seeks to translate years of technology development into sustainable revenue growth and achieve its target of positive EBITDA by the end of 2027.
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