The Joensuu region’s business sector has seen strong growth and several significant developments this spring. The latest investment and business news indicate that the region is attracting both new investments and international collaboration.
Kesla, known for its forestry machines, received a 17-million-euro order for defense products.
NATO tested drone countermeasures in Joensuu and across Finland.
The SOHJO business event was held on a larger scale than ever before.
Business Joensuu has signed a memorandum of understanding with the Daxing Hydrogen Industry Development Zone in Beijing. This is one of China’s most significant hydrogen industry hubs.
New Gold Discovery in Ilomantsi and Million-Euro Funding for Endomines
Mining company Endomines has discovered a gold deposit worth up to 500 million euros in Ukkolanvaara, Ilomantsi. In addition, in June, the company received 21 million euros in bank financing for its operations, as well as millions in funding to explore minerals needed by the defense industry in Ilomantsi.
Cooperation with China’s Hydrogen Economy Cluster Is Intensifying
Business Joensuu has signed a memorandum of understanding (MoU) with the Daxing Hydrogen Industry Development Zone, located in Beijing. Daxing is one of China’s most significant hydrogen industry hubs. This collaboration opens up new opportunities for hydrogen and cleantech companies in Eastern Finland to expand internationally.
“Business Joensuu and the Daxing International Hydrogen Energy Demonstration Zone are both platforms for innovation. By combining our networks, we can connect Finnish and Chinese hydrogen companies, accelerate innovation, and create long-term industrial cooperation in the hydrogen economy.” Ms. Liu Yajie, Chairwoman, Daxing International Hydrogen Energy Demonstration Zone
Nanocomp’s New Production Facility at GreenPark Reaches Roof-Topping Height
Nanocomp, a manufacturer of display technology for mobile devices, celebrated a traditional topping-out ceremony in late May at its new production facility in the GreenPark industrial area in Joensuu. Production is scheduled to begin at the new facility in early 2027, meeting growing international demand.
Nanocomp is the anchor company at the GreenPark Photonics Hub, an industrial park specializing in photonics manufacturing located near the port and rail connections.
Kesla Receives a 17 Million Euro Order for Defense Products
A NATO country has ordered Kerberos mine-clearing vehicles worth 17 million euros from the engineering company Kesla. Thanks to the order, Kesla will hire new employees at its Kesälahti plant. The company, which started out in forest technology, is now focusing heavily on the defense industry.
Defense and Security Technologies Are Driving Investment
The defense and security technology ecosystem in the Joensuu region has made significant strides this year. Here are a few examples:
In early June, Finnish and international defense technology companies will gather in various parts of Finland for the NATO Innovation Range (NIR) series of events, where technologies are tested in realistic operational environments.
Turku’s maritime testing environment becomes part of the Borderland Europe testing network
SITRA, the Finnish Foundation for Future Studies, provided funding for the nationwide Defence Innovation Network Finland (DEFINE), which includes Borderland Europe, a living lab that originated in Joensuu.
Kelluu, a manufacturer of hydrogen-powered airships, received 15 million euros in funding. In addition, it was selected as the only Nordic company to join NATO DIANA, a defense innovation accelerator.
Process Genius Signs Agreement with Food Giant Danone Danone, an international food giant with 180 factories, is implementing a system developed by Joensuu-based Process Genius Oy that consolidates operational data from its production facilities. The system is unique in Europe.
Carbonaide Raises Millions in Funding The startup Carbonaide has raised 3.7 million euros in funding, which will be used, among other things, to strengthen its global sales organization. Carbonaide’s technology binds carbon dioxide into concrete.
Youpret Expands into Estonia
The remote interpreting service Youpret is gaining a foothold in the Estonian market in partnership with the local translation agency Interlex. Youpret connects clients and professional interpreters in real time through its app.
Northern Finnish Company Becomes Part of Rakennustoimisto K. Tervo
Rave Rakennus Oy, which operates in Northern Finland, has become part of Joensuu-based Rakennustoimisto K. Tervo. The merger aims to achieve nationwide coverage, growth, and the opportunity to participate in even larger construction projects.
SOHJO is growing into an international innovation event
This spring, the SOHJO business event brought together 650 representatives from companies, investors, and the research community in Joensuu to discuss growth, new technologies, and international business. The event week also included SOHJO Hacks, where companies and researchers came together in university labs to solve practical challenges, as well as the Susicorn Startup Competition, which highlighted the most promising growth companies – Health tech company Recolth winning the competition.
Next year, SOHJO will be held on an even larger scale in the Mehtimäki area of Joensuu.
The Joensuu startup community now has its own regular event, as the Startup Afterwork kicked off in May. These after-work gatherings bring together startup entrepreneurs, students, researchers, and anyone else interested in the Joensuu region in a relaxed atmosphere.
Startup Afterwork events will resume after the summer break – come join us!
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