Oulu Energy Group foresee a huge potential for creating a new business based oncircular economy.


Oulu Energy




Paula Fontell
Anne Raudaskoski
Ville Grönlund

The focus of collaboration in 2021 was to create a concrete foundation for the new business: the new company, Syklo, was launched in May 2022.

The first step was to gain understanding and data on global and local needs & opportunities in the context of ongoing market transition towards a carbon-neutral circular economy in different sectors. Based on this foresight work and reflecting Oulun Energia’s strengths and competencies, a number of alternative growth ecosystems were created.

Through a systematic process two most potential circular growth ecosystems were selected: ‘Closing the loops of construction materials’ and ‘New products from biomaterial flows’.

A more detailed short and long-term business scenarios with initial product-service offering were created and growth opportunities for organic and non-organic growth were identified. In addition, a high-level roadmap for international growth was described, and competencies, abilities and aptitudes for the future team were defined.

Teemu Koskela, CEO of Syklo: “With Ethica’s experts we created a foundation for a new business: the developed circular growth ecosystems form a growth path towards our goal: we aim to have a profitable turnover of over 50M€ by 2025.

Ethica is the best possible partner for us: their in-depth circular economy expertise combined with co-creation methods and tailored tools enabled us to build a path towards a regenerative business.”