AGP Executive Report

Google & Finland Data Centers: Google will invest about €13bn in Finland’s AI infrastructure, adding three data centres and securing long-term power via a 22-year deal tied to Fortum’s Loviisa nuclear plant (up to 50% of output from 2030), as the company ramps capacity for 2027–28. Energy & Industry Funding: Finland’s Ministry of Economic Affairs and Employment awarded €26.6m for three industrial biogenic carbon capture projects, including Metsä Fibre’s Rauma pulp mill (100,000 t/yr) and two biogas sites, with captured CO2 aimed at electrofuels. Circular Economy Push: EU Commissioner Jessika Roswall outlined plans for a Circular Economy Act to harmonise waste rules, cut duplicate reporting, and strengthen secondary raw-material markets, with Finland among regional pilots. Mining & Materials: Greenland Mines reported progress at Skaergaard (completed 2026 bulk sampling, 104.8 tons from seven sites) and Sarfartoq (field work and environmental baselines underway). Transport Tech: Siemens Mobility activated a live trial of its cloud-native Signaling X in Germany’s Rostock tram network, moving safety-critical signalling into a centralized, software-driven setup. Health & Regulation: Finland’s Licensing and Supervision Authority suspended operations at Helsinki’s Plastic Surgery Center after the death of influencer Olivia Oras, citing “patient safety” risks.

AI & Data Centres: Google says it will invest at least €13bn in Finland’s AI infrastructure, including three new northern data centres, and secure nuclear power via a 22-year deal tied to Fortum’s Loviisa output—raising hopes for capacity, but also concerns about knock-on electricity prices in the Baltics. Energy Transition: Finland’s Ministry of Economic Affairs and Employment awarded €26.6m for Finland’s first industrial biogenic carbon capture projects at Metsä Fibre’s Rauma mill plus two biogas sites, with captured CO2 aimed at electrofuels. Maritime Decarbonisation: Bayer and Neste finalized an agreement to scale Bayer’s newgold winter canola in the U.S., boosting lower-carbon feedstock supply for renewable diesel and sustainable aviation fuel. Mining & Greenland: Greenland Mines updated progress on 2026 field work at Skaergaard (bulk sampling completed) and Sarfartoq (mapping and environmental baselines underway). Defence Tech: Finland’s ICEYE and Poland’s PGZ signed an LOI to build a Starlink-like military satellite communications system, with implementation planned 2026–2030. Regulation & Safety: Finland’s Licensing and Supervision Authority suspended Helsinki cosmetic clinic operations after the death of influencer Olivia Oras, citing patient safety risks. Shipping Security: Reports say Houthis seized Yemen’s Mocha and pushed toward Perim at the Red Sea’s Bab al-Mandab strait, threatening a key Asia–Europe route. EU Trade Policy: The UK, followed by France and Canada, moved to ban goods from illegal Israeli settlements in the occupied West Bank, with sanctions aimed at companies and services tied to settlement expansion.

Google’s Finland AI build-out: Google says it will invest about €13bn in Finland to expand AI data centres across Oulu and Kajaani, with Prime Minister Orpo calling it a jobs and tax boost; economists at Etla warn the long-term employment impact may be smaller once construction ends. Grid and power pressure: The same plan is framed as tied to nuclear power supply, but opposition voices question whether Finland’s power supply can handle the demand. Battery storage deal: Centrica Energy has signed a partial tolling agreement for Karppio, a 125MW/300MWh standalone battery storage project at Teuva, with construction by Delta Capacity and commissioning targeted for Q4 2027. Transport cost squeeze: Finnish transport associations (SKAL, bus and taxi groups) urge government action over diesel prices, proposing lower biofuel mandates and fuel tax relief to protect freight and passenger competitiveness. NFC beyond payments: The NFC Forum’s 2026 finalists highlight new uses of NFC for locks, access and industrial controls, not just contactless payments. Security tech trend: Finnish deep-tech firm Kelluu argues defence surveillance is shifting from small “high-end” platforms to mass, autonomous networks that can keep operating under jamming. Mining approvals: BPM Minerals received approval for an initial 10,000m reverse-circulation drilling programme at the Bonnie & Clyde gold prospect.

AI Infrastructure Push: Google will invest at least €13bn in Finland over 2027–2028, expanding data centres in Hamina, Kajaani, Muhos and Vaala and adding low-carbon power, wind and a 94MW battery, with a 22-year nuclear power deal tied to Fortum’s Loviisa plant; opposition parties are urging a national permitting system to avoid power shortages and price spikes as AI demand ramps up. Energy & Transport Costs: Finnish transport and logistics associations warn diesel prices above €2.50/l are already damaging freight and passenger operators, calling for faster relief via lower biofuel mandates and possible fuel tax cuts. Grid Reality Check: A new overview of Europe’s electricity mix shows fossil fuels still supply nearly 30% on average, with heavy dependence in Malta, Cyprus and Poland—highlighting why power resilience matters for industry. Defense Procurement: Sweden has approved a HIMARS rocket artillery purchase worth about $727m, with deliveries starting in 2027, and cooperation with Finland on rocket artillery. Industrial Tech & Research: IQM outlines a three-step upgrade path for the LUMI-IQ quantum system at CSC in Kajaani, targeting logical-qubit-capable superconducting computing by 2029. Manufacturing & Materials: Syklo opens a €70–80m Finnish circular materials hub, aiming to scale reuse and recycling capacity. Mobility & Safety: Nokian Tyres marks 90 years of its Hakkapeliitta winter range with the new Hakkapeliitta 01 rollout.

AI & Data Centres: Google is set to invest at least €13bn in Finland for AI infrastructure, with three new data centres plus expansion in Hamina, and plans to start construction in 2027–28; the build is tied to energy deals including a 22-year Loviisa nuclear power purchase with Fortum, alongside wind and a 94MW battery in Kajaani, aiming to support tens of thousands of jobs and Finland’s grid. Energy & Grid Security: Fortum and Google’s long-term nuclear power agreement underpins the AI power demand story, while Finland’s wider push to stabilise supply also shows up in battery contracting and grid upgrades. Industrial Tech: Nokia launched its Cognitive Operations platform for mining, public safety and defense, combining mission communications, edge computing and operational AI with digital twins and predictive maintenance. Mining & Metals: Normet opened a technology centre in Pirkkala to back underground mining innovation, while Latitude 66 highlighted gold-cobalt potential in Finland-linked scoping work. Maritime & Security: Norway helped repatriate 69 Russians after the Finnish-built ice-class research vessel Professor Molchanov was arrested in Svalbard, underscoring Arctic legal and energy-asset tensions. Trade & Sanctions: Finland and 11 other countries backed tighter restrictions on goods from Israeli West Bank settlements, with the UK ban triggering broader diplomatic fallout. Weather Tech: Finland and Vietnam are advancing a Vaisala-led project for new radars, LiDAR and forecasting systems to strengthen severe-weather monitoring.

Google’s AI power play in Finland: Alphabet’s Google says it will invest at least €13bn in Finland’s AI and digital infrastructure in 2027–2028, building new data centres in Hamina, Kajaani, Muhos and Vaala and backing clean energy plus community funds. Nuclear deal: Google also signed a 22-year power purchase agreement with Fortum to buy up to 50% of output from the Loviisa nuclear plant, aiming to keep it running through 2050. Jobs and local impact: The company estimates 37,000 jobs during construction and about 7,000 ongoing roles once sites are operational, with €31m earmarked for community programmes. Market backdrop: European shares slid as Brent crude pushed above $100, but Finland’s stocks stood out, helped by Fortum jumping on the Google nuclear contract. Trade-policy ripple: Finland said it won’t impose national restrictions on illegal Israeli settlements due to a lack of legal basis, while supporting continued EU work—amid a wider push by multiple countries to curb settlement-linked goods.

AI Infrastructure Push: Google says it will invest at least €13bn in Finland over 2027-28, building data centres and backing power upgrades in Hamina, Kajaani, Muhos and Vaala, with clean-energy, battery and community biodiversity/education funding tied to the rollout. Energy & Grid Reality Check: The deal leans on long-term low-carbon supply, including a 22-year nuclear power purchase agreement via Fortum plus new wind and battery capacity—highlighting how data-centre growth is now constrained by grid availability. Defence Industry: Finland will acquire more than 100 Patria TREMOS mortar systems under a serial production deal, with deliveries running through 2028 and an option for hundreds more. Cross-Border Mobility Tech: Finnish vehicle data firm Good2Know expands into Sweden, bringing standardized used-car background checks into dealer workflows. Mining Equipment Update: Sandvik unveils the Toro TH663i I Gen2 underground truck, pitching reliability and lower cost per tonne through 30+ enhancements. Geopolitics Affecting Trade: UK-led sanctions on Israeli West Bank settlement goods draw broad support including Finland, while the US says it was informed but did not oppose the UK initiative.

West Bank Trade Sanctions: The UK, joined by France, Canada and 10 other countries including Finland, announced restrictions on trade in goods from Israeli settlements in the occupied West Bank, citing “ethnic cleansing” and settlement expansion; the package also targets related services like financing, construction and real estate, and Israel retaliated by ordering the closure of the UK consulate in Jerusalem. Finland Border Security: Finland has completed a 200-kilometer barrier on its Russia border, including fencing, a service road, cleared land and surveillance systems, aimed at stopping illegal entry and “targeted migration.” Arctic Maritime Deal: Kongsberg Maritime agreed to acquire Finnish azimuth propulsion specialist Steerprop, strengthening its Arctic and ice-class vessel capabilities. Mining Electrification: Sandvik hosted a load-and-haul customer day in Turku, handing over a battery-electric underground loader to Eldorado Gold and showcasing new equipment. Data Centers in Finland: TikTok’s ByteDance is investing €2bn in two Finnish data centers (Kouvola and Lahti) under its European data localization push, with operations starting by 2027. Shipbuilding Milestone: Royal Caribbean’s Icon-class “Hero of the Seas” was floated out at Meyer Turku in Finland, moving into outfitting.

Border Security Buildout: Finland has finished about 200 km of reinforced fencing along selected sections of its 1,340-km border with Russia, a project launched in 2023/2024 and costing roughly €356–€365m, with a 4.5m-high barrier, surveillance tech, patrol roads and a cleared strip to support faster border-guard response. Telecom & AI Networks: Nokia is rolling out “Mobile Core Early Access,” a live hosted environment meant to help operators test AI-era mobile core capabilities faster. Semiconductor Ecosystem: Kvanttinova is positioning Finland’s Helsinki-area cluster for semiconductors, microelectronics and quantum, linking VTT, Aalto and Espoo with industry through the FiCCC network. Maritime Tech Deal: Kongsberg Maritime has agreed to acquire Steerprop, strengthening its Arctic and ice-class propulsion offering. Defence Industrial Cooperation: Sweden signed for HIMARS launchers and ammo (deliveries from 2027) and also signed a joint declaration with Finland to boost rocket-artillery capacity, maintenance and supply security. Industry Hardware for Off-Road: AGCO Power says forestry machines need purpose-built off-road engines, highlighting its diesel and hybrid-focused approach for demanding harvesters and forwarders.

Border Security Build-Out: Finland has officially completed a 200-kilometre barrier fence along its eastern border with Russia, with construction starting in August 2024 and covering the most vulnerable sections; the system includes a ~4.5-metre fence plus technical surveillance and a cleared strip, and Interior Minister Mari Rantanen said EU funding may be needed for further extensions. Nordic Rocket Artillery Push: Sweden approved a purchase of around 10 Lockheed Martin HIMARS launchers and ammunition (about $750m), with deliveries from 2027, and Sweden and Finland signed a joint declaration to deepen rocket artillery cooperation on training, maintenance and supply security. Finnish F-35 Engine Milestone: Patria completed assembly of Finland’s first F135 propulsion system at its Linnavuori factory in Nokia, supporting the incoming F-35A fleet and shifting the site toward long-term MRO work. Arctic Maritime Deal: Kongsberg Maritime agreed to acquire Finnish azimuth propulsion specialist Steerprop, aiming to strengthen its position in ice-class and Arctic vessel propulsion. EV Market Confidence Move: AVILOO expanded its battery warranty to more European markets, using a digital dashboard to manage battery test lifecycles and warranty issuance for used EV remarketing. Defense Industry Cooperation: Finland and Türkiye are positioned to deepen defense ties as NATO allies, with former Finnish defense minister Antti Kaikkonen pointing to potential industry cooperation frameworks.

Maritime Heavy Lift: SAL Heavy Lift has signed with China’s Wuhu Shipyard for five 14,600dwt multi-purpose heavy-lift vessels, building on a prior order where three ships were already delivered; the new ships target oversized cargo with a 1,600-ton combined hydraulic crane setup and large hatch openings, with extra focus on high-end and eco-friendly procurement. Arctic Policy & Security: The EU is preparing an updated Arctic policy after admitting the 2021 version underplayed security and defence risks, as Russia’s posture and China’s economic push grow alongside new sea-route opportunities. Finland Defence Industry: Patria completed assembly of Finland’s first F135 engine for the F-35 program at Linnavuori, Nokia, with production planned through 2030 and sustainment work to support Finland’s northern-flank security. Mining & Permitting Economics: A cross-country look at critical minerals shows permits are increasingly shaping project costs and financing, not just timelines—an issue as the EU and others tighten rules to secure energy-transition supply chains. Energy Infrastructure: Finland’s IAEA nuclear emergency readiness is under review, highlighting how regulatory coordination is becoming a key industrial risk-management topic.

Defence Industry: Patria has completed assembly of Finland’s first F135 engine for the F-35 programme, moving the country into full-scale production at its Linnavuori, Nokia facility and setting up long-term maintenance and overhaul work through 2030. Energy & Industry: A report on data centers highlights why cooling is becoming a board-level business issue as AI workloads push electricity demand higher, with air cooling increasingly strained by denser racks. Geothermal Risk: South Korea’s enhanced geothermal project was shut down after a deep water-injection operation triggered a damaging earthquake, underscoring the fault-activation and post-injection risk facing developers. EV Infrastructure: Finnish charger maker Kempower says real-world usage tracks more with plug availability than raw charging power, pointing to underused stations as a Europe-wide rollout problem. Mining & Tech: Normet opened a technology centre in Pirkkala to accelerate underground mining solutions, while Sandvik ramps up rock drill manufacturing. Arctic Logistics: New Arctic shipping routes are gaining traction as ice conditions improve seasonally, reshaping trade timelines and geopolitical leverage.

Finnish Defence Industry: Patria has completed assembly of Finland’s first F135 fighter engine for the F-35 programme, building domestic capability in Nokia (Linnavuori) for full-scale operations through 2030. Arctic Shipping & Geopolitics: A new Arctic route is being tested for Asia-Europe cargo links, with weekly service ambitions that could reshape trade flows and strengthen Russia’s leverage. EV Charging Reality Check: Finnish firm Kempower says Europe’s EV charger underuse is driven more by plug count than raw megawatt ratings, with higher-access sites seeing far better utilization. Energy & Industry Disruption: Iran-war tensions are reshaping oil and shipping routes, while Indonesia leans on coal to expand aluminium smelting as Middle East supply is hit. Mining & Equipment: Normet opens a technology centre in Pirkkala to accelerate underground mining solutions, while Sandvik ramps up rock drill manufacturing. Smart Health Wearables: Oura filed for an IPO, pushing the Finnish smart-ring market into a fiercer race as rivals expand features and platforms.

Finnish defence industry: Patria has completed assembly of Finland’s first F135 fighter engine for the F-35, starting full-scale operations at its Linnavuori, Nokia facility and setting up future MRO&U work through 2030. Arctic capability & shipping: The MSV Nordica icebreaker is set to depart St. John’s on an Arctic mission under a Canadian Coast Guard contract, carrying Indigenous cadets as part of sea-time training. Mining tech in Finland: Normet has opened a technology hub in Pirkkala to accelerate underground mining solutions, while Sandvik ramps up rock drill manufacturing and expands its mining portfolio. Energy & infrastructure: Finland’s government budget decision for 2027 backs growth with transport and construction investment, and the NB8 nations have pledged about €918m for Ukraine’s winter energy needs. Smart wearables market: Oura has filed for an IPO, intensifying competition from other smart ring makers. Industrial shipping equipment: Damen has unveiled the Container Feeder CFe 1100 with hybrid power options and readiness for future methanol and battery propulsion. Healthcare research with Finland links: A University of Oulu study ties higher coffee intake to lower fat and higher testosterone in men, while other clinical studies continue to expand evidence in ophthalmology and rehabilitation.

Nuclear Readiness Check: The IAEA has completed a ten-day review of Finland’s nuclear and radiological emergency response plans, assessing arrangements with STUK and police, rescue and local authorities. Defence Industry: Patria has finished the first F135 engine assembly for Finland’s F-35 programme at its Linnavuori, Nokia facility, with a shift planned from assembly to lifecycle maintenance and modernisation from 2030. Mining Tech Push: Normet opened a technology centre in Pirkkala to scale R&D and testing for autonomy, robotics and digital tools for underground mining, hiring 50+ people in Finland this year. Underground Electrification: Sandvik says its battery-electric DD423iE drill delivered a 50% battery capacity boost and an 80% performance improvement in field tests at Agnico Eagle’s Kittilä mine. Arctic Strategy Watch: An EU policy review is set to reshape the bloc’s Arctic drilling and mining stance as cooperation among Arctic states “fractures” amid security tensions. Labour Market Snapshot: Statistics Finland reports working-day adjusted wages and salaries rose 0.8% year-on-year in the private sector in July, while construction and private education saw declines. Shipping & Energy: Damen expanded its container feeder line with the CFe 1100, designed for fuel efficiency and future methanol and battery-electric conversion options.

Defence & Aerospace: Patria has completed Finland’s first locally assembled F135 engine for the F-35A at its Linnavuori facility in Nokia, moving the country from aircraft acquisition toward long-term sustainment and strengthening NATO’s Northern propulsion support. Mining Tech: Normet opened a new technology centre in Pirkkala to scale R&D and testing for autonomy, robotics and software for underground mining, hiring more than 50 people in Finland this year. Industrial Manufacturing: Sandvik finished a multi-year expansion of its rock drill production in Tampere, adding capacity and shifting into automation ramp-up for higher volumes through 2026–27. Energy & Infrastructure: Finland’s first locally assembled F135 milestone lands as the country also pushes wider industrial readiness, while ABB to deliver shore power at Port of HaminaKotka signals cleaner port operations. Transport & Trade: After decades, Sweden and Finland reconnected by rail with a new Oulu–Haparanda service, boosting tourism and business in remote regions. Security & Compliance: Finland is investigating a Russian-made Geoscan 701 mapping drone found off Porvoo after advance notice from Russia’s air traffic services. Public Health & Consumer Tech: Oura filed its S-1 for a US IPO as revenue and subscribers surge, underlining Finland’s growing role in wearables. Environment & Cities: Oulu topped Europe’s clean-air city ranking again, with Finnish cities dominating the top 10.