The impact of the three-year agreement on the company’s revenue is estimated to be approximately EUR 2.5 million by the end of 2024.
The development and product co-operation agreement covers material technology, ie the development of the formulas needed to manufacture the end-products, and manufacturing end-products on behalf of the contract partner. Waste-based raw material used for manufacturing the end-product is produced by EcoUp at its own production plant in Finland.
This agreement is a significant recognition of our material expertise and at the same time an indication that there is a clear need in the market for an actor like us, a sustainable business enabler. This is our first cooperation agreement of this type, and we believe that we will see more of them in the future, says Antti Ollikainen, CEO of EcoUp.
EcoUp launched a method for reusing mineral-based waste fractions earlier this year. The method includes both energy-efficient production equipment and material technology – formulas – for producing new, waste-based end-products. With the method EcoUp aims to improve the re-use of construction and demolition waste, thus decreasing the environmental impact of the construction industry. Technology and formula are to be licensed for the international customers.
For more information:
CEO, EcoUp Oyj
Tel: +358 44 703 3170