Tracegrow aims for the international market with its circular economy innovation

Now, ten years later, agricultural fertiliser made from battery waste is a unique circular economy innovation that offers a solution to the global waste problem.

The company’s CEO Mikko Joensuu says that Tracegrow was initially a non-operating company.

“In 2015 we got Huhtala Yhtiöt Oy as our major shareholder. With that growth of capital, we were able to take big steps towards developing our innovative technology.”

In 2017, Tracegrow made a significant technological breakthrough. The company was able to clean the mass from batteries and use the precious metals to make fertilizer.

A couple of years later, the company launched its commercial operations at its factory in Kärsämäki.

“Today our work community consists of many kinds of experts, including chemists, process engineers, agronomists and sales professionals. A diverse team with a reliable board of directors form the backbone of our company".

Forerunners of recycling base their beliefs in sustainability

The main component in alkaline batteries is black mass consisting of manganese and zinc. They are both valuable metals which, however, have not previously been used efficiently.

The alternative to mining raw materials from the ground is to use completely recycled materials. Tracegrow is puzzling out the global waste problem by turning batteries into fertiliser products with a high processing value. The materials would otherwise end up as hazardous waste.

Tracegrow has a highly refined waste recycling process, as more than 90 percent of the metals in batteries can be recovered and reused. In addition to recycling metals in low-emission processes, the company’s small carbon footprint gives it a competitive advantage in the market.

“Our business target meets the EU’s circular economy and recycling goals, as we are actively seeking solutions to global needs. Responsibility based innovation is in our company’s DNA,” Joensuu says.

Technology scalability is key to growth

After a decade of development, Tracegrow’s technology patents and trademarks are protected globally, and its technology works exactly as it should: producing sustainable and ecological products. In addition, in 2021, Nordic investment and asset manager Taaleri brought more credibility to the work by investing 1.5 million euros in the growth company.

The company’s drive to go international is underpinned by the various scalable applications of its technologies. This enables the unique systems to be used in industries other than the battery and chemical industries.

“Now it’s the time to go global and achieve our international business expansion targets. First, we are aiming for organic growth in Europe, while also having interests in Canada, Brazil and Australia, to point out a few examples. Companies in those countries are extremely interested in our technology,” Joensuu reveals.

The Superfinns programme showed the global potential

In 2022, Tracegrow participated in Kasvu Open and Nordea’s Superfinns sparring programme.

Jaakko Nauha, the company’s Business Development Director, is happy with the results.

“We had open discussions with financiers, lawyers and marketing experts. We received valuable comments from the sparring partners as well as good lessons learned from the other companies and their representatives. The programme offered networking opportunities and a lot of positive visibility.”

Tracegrow was praised in the programme for the fact that it has been able to develop a scalable business model and that it has evidence of a strong growth motivation. Joensuu believes that competitors will not catch up with its 10 years of development very easily.

“Five years from now, I believe that we will have several production facilities operating globally. Simultaneously we also want to guarantee safe growth for all of humanity by creating environmentally conscious solutions,” Joensuu assures.