Taaleri’s investment in Joensuu Biocoal Oy to build a

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TAALERI PLC PRESS RELEASE JANUARY 25, 2022 AT 9:00 AM (EET)

by Taaleri investment Joensuu Biochar Oy to build a bioindustrial torrefied biomass production plant in Joensuu

Taaleri Joensuu Biocoal Oy’s investment will build a bio-industrial plant producing torrefied biomass in Joensuu. The board of Taalerin Plc has made an investment decision. The Center for Economic Development, Transport and the Environment provided €3.4 million in support of the European Regional Development Fund project, and the Climate Fund provided a capital loan of €5.0 million euros to the project. A number of Finnish family investment companies have also invested in the project. The value of the investment is approximately 20 million euros.

Torrefied biomass replaces the use of coal in the cement and steel industries, for example. It can also be used in soil improvement and water treatment.

Construction of the bio-industry plant will begin in spring 2022, and the plant is expected to start production in mid-2023. The total planned production of the plant is approximately 60,000 tonnes of torrefied biomass per year. The plant uses by-products from the logging and forestry industry as raw material and annually uses approximately 250,000 cubic meters of biomass, mainly bark and first thinnings. The roasting technology used in the project is based on technology from NextFuel AB which is developed in close collaboration with ANDRITZ AG.

The bio-industry plant will be built on the site of Savon Voima Oyj’s Iiksenvaara cogeneration plant. In addition to the land, Savon Voima leases certain equipment to the bioprocess plant and provides it with services. It is also planned to create a cluster around the plant, which includes for example the Finnish Institute of Natural Resources, the University of Eastern Finland, the Karelia University of Applied Sciences and Business Joensuu. The group’s goal is to develop products and refine new uses for torrefied biomass and biochar.

Taaleri plans to build more bio-industrial factories in the future. In December, the company launched the first European private equity fund focused on bio-industry projects. Additionally, Taaleri has invested in a biorefinery being built in Hamina.

For more information please contact:
Tero Saarno, Director, Bioindustry, +358 50 373 1923, [email protected]

Taaleri in a nutshell

Taaleri is a Nordic investment and asset manager specializing in renewable energy and other alternative investments. We channel capital into economically profitable businesses that have a lasting positive impact on the environment and society. We have been a signatory to the United Nations Principles for Responsible Investment (UNPRI) since 2010 and joined the Net Zero Asset Managers initiative in 2021. Taaleri’s vision is to be a Nordic pioneer in alternative investments focused on durability.

Taaleri has two business lines: Private Asset Management and Strategic Investments. Private Asset Management consists of renewable energy, real estate, bio-industry and infrastructure companies. The Strategic Investments segment includes Garantia Insurance Company Ltd.

Taaleri has €2.1 billion in assets under management in its private equity funds and co-investments. The company has approximately 120 employees. Taaleri Plc is listed on Nasdaq Helsinki.

www.taaleri.com

Siri Markula, Communication and IR Manager, tel. +358 40 743 2177, [email protected]

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