AGP Executive Report

Food Supply and Retail: Suspected cyberattacks disrupted supermarket refrigeration systems across Europe, with Finland among the countries reporting problems. The incidents expose the risks of connecting essential store equipment to remote control systems. Manufacturing: Incap reported a 56% rise in quarterly electronics manufacturing revenue, while Stora Enso’s adjusted third-quarter operating profit rose 28%. Transport and Shipbuilding: Finland ordered 21 more Stadler trains, and Meyer Turku christened the second patrol vessel built for the Finnish Border Guard. Data-Centre Investment: Police opened a criminal investigation into Google’s Finnish data-centre project after reports of large-scale forest clearance and concerns about drainage and water management.

Food Supply and Cybersecurity: Finnish K-stores were among supermarkets hit by attacks that disrupted refrigeration across seven European countries, forcing retailers to remove spoiled food. The incidents expose the risks of connecting industrial controls to the internet. Manufacturing: Incap reported a 56% rise in quarterly electronics manufacturing revenue, while Stora Enso’s adjusted third-quarter EBIT increased 28%. Data Centre Oversight: Police have opened a criminal investigation into Google’s Finnish data centre project, examining forest clearance and concerns over drainage and water management.

Data Centre Scrutiny: Finnish police are investigating suspected environmental failings at Google’s Muhos site, including drainage and water management. Work has stopped at two sites after about 330 hectares of forest were cleared; the probe could run into 2027. Power Costs: Spot electricity prices are forecast to peak near 51 cents per kWh on Monday. More than 80% of Finnish companies surveyed say data centres and traditional industry should be treated equally in energy policy. Telecoms: Nokia’s UK AI-RAN trial ran on existing custom silicon, showing the technology can work without Nvidia GPUs. Mining: Nordic Resources has brought in former Rupert Resources CEO Graham Crew as it advances Finland’s Kopsa gold-copper project, with a 1.52-million-ounce gold-equivalent resource. Industrial Investment: Rauma has launched the Finnish Navy’s third Pohjanmaa-class corvette, while Finland has ordered 21 more trains from Stadler.

Data-centre scrutiny: Police opened a criminal investigation into Google’s Muhos site over suspected environmental damage and drainage and water-management deficiencies. Work is halted after about 330 hectares of forest were cleared, putting a spotlight on the environmental costs of Google’s planned €13bn Finnish investment. Energy costs: Diesel hit a record €2.49 a litre in October, up 54.7% year on year, adding pressure to transport and industry as Middle East supply disruption continues. Trade: Finland recorded a €981m goods trade deficit in August; exports and imports both rose about 22% year on year, while the January–August deficit reached €2.7bn. Battery materials: Stora Enso and China’s Shanshan plan a demonstration line for hard carbon made from lignin, a pulp-industry byproduct, for sodium-ion battery anodes. Industrial technology: Finnish researchers at LUT demonstrated a 1,000-volt alkaline hydrogen electrolyser system, targeting 10–15% lower costs. Agriculture: Valtra unveiled its redesigned T-series tractors, with six models offering 170–245 horsepower for professional farmers and contractors.

Energy Costs: Finnish diesel prices hit a record in October, averaging €2.50 a litre—up 54.7% year on year—as disruption to oil shipments drove fuel costs higher. Data Centre Scrutiny: Police opened a criminal investigation into Google’s Finnish data-centre project after forest clearing, examining possible shortcomings in drainage and water management. Transport: Finland ordered 21 more trains from Swiss manufacturer Stadler, extending its investment in rail capacity. Trade: Finland’s goods trade deficit reached €981 million in August, taking the January–August gap to €2.7 billion, despite exports rising 22.1% year on year that month. Industrial Innovation: Stora Enso and China’s Shanshan Technology plan a demonstration line to turn Finnish forest-industry lignin into hard carbon for sodium-ion batteries. LUT University also demonstrated a 1,000-volt alkaline hydrogen electrolyser, targeting 10–15% lower costs. Strategic Partnerships: Finland and the US signed agreements to deepen cooperation in technology and critical minerals.

Data-centre scrutiny: Finnish police are investigating Google’s Muhos project over suspected environmental violations, including drainage and water-management concerns. Forest was cleared before required impact assessments were complete. Rail investment: State-owned RailStock Finland has ordered 21 more Stadler trains, expanding a deal intended to support passenger services and provide operators with rolling stock. Technology and minerals: Finland and the US signed agreements to deepen cooperation on AI, quantum and next-generation communications, while encouraging investment in Finnish mineral processing and refining. Hydrogen technology: LUT University demonstrated a 1,000-volt alkaline electrolysis system, with researchers targeting a 10–15% reduction in costs.

Data Centre Scrutiny: Police are investigating suspected environmental damage at Google’s Muhos data-centre site after 330 hectares of forest were cleared before environmental assessments were complete. Authorities cite possible shortcomings in drainage and water management; construction has been halted, and the probe is expected to continue into 2027. US-Finland Industry Links: The two countries signed agreements on critical minerals and technology, covering supply-chain resilience and cooperation in AI, quantum technology and next-generation communications. Defence Technology: Finland’s Defence Forces and local firm Varjo are working together on virtual-reality training to prepare troops to counter drones. Shipbuilding: Rauma Shipyard launched the Finnish Navy’s third Pohjanmaa-class corvette, extending a major domestic naval construction programme. Energy Storage: Delta Capacity secured financing for a 600 MWh Finnish battery-storage portfolio.

Data-centre investment: Finnish police have opened a criminal investigation into Google subsidiary Tuike Finland over forest clearance and drainage at its Muhos data-centre site before environmental assessments were complete. The probe could run into 2027, as Finland weighs the benefits of major investment against stricter demands on companies. Critical minerals and technology: Finland and the US signed agreements to deepen cooperation, with Washington citing Finnish expertise in mining, refining and processing as key to securing supplies for batteries, semiconductors and energy infrastructure. Hydrogen research: LUT University demonstrated a 1,000-volt alkaline electrolysis system; researchers say higher voltage could cut power-system costs, with potential to reduce total investment by 10–15% if savings scale. Defence manufacturing: Rauma Marine Constructors launched the third Pohjanmaa-class corvette for the Finnish Navy, while Finland approved an €84.5 million purchase of German RGW110 anti-tank weapons. Fuel costs: Diesel prices hit a record €2.49 per litre in October, up 54.7% year on year as supply disruption lifted energy costs.

Defence Technology: Finland’s Defence Forces will work with VR firm Varjo to train troops against drone threats, using its XR4 headset to simulate encounters with small FPV drones. Fuel Costs: Diesel averaged €2.49 a litre in October, its highest price since June 2022 and nearly 50% above a year earlier, adding pressure on transport and industry. Data Centre Scrutiny: Police are investigating Google subsidiary Tuike over suspected environmental-law breaches at planned data-centre sites in Muhos and Kajaani, where forest was cleared before required impact assessments. Google says it will cooperate. Technology and Supply Chains: Finland and the US signed agreements to deepen cooperation on critical minerals and technologies including AI, telecoms, quantum, energy and defence. Quantum Computing: Finnish company IQM says its 54-qubit processor achieved full-chip entanglement, opening the processor to cloud users.

Data Centre Scrutiny: Finnish police have opened a criminal investigation into suspected environmental and Water Act breaches at Google’s planned Muhos data centre, part of the company’s $15 billion Finnish AI investment. Authorities are examining forest clearance and drainage carried out before required environmental assessments; Google says it will cooperate. US-Finland Industry Ties: Washington signed memorandums with Finland on cooperation in critical minerals, technology and energy policy. Defence Manufacturing: Rauma Marine Constructions launched the third of four Pohjanmaa-class corvettes for the Finnish Navy, as production advances at its shipyard. Energy Storage: Delta Capacity secured financing for a Finnish battery-storage portfolio with 600 MWh of capacity. Solar Power: Downing secured permits for a 120 MWp Finnish solar project. Manufacturing Abroad: UPM plans to build a label-material coating factory in Gujarat, India.

Industrial Results: Kalmar’s third-quarter orders rose 22% to €458 million, with services offsetting weaker equipment sales; comparable operating profit fell 6% year on year. Forestry Pressure: Ponsse is negotiating temporary layoffs affecting up to 1,109 Finnish employees, as weak demand leaves orders below production capacity. Food Innovation: Finnish insect-protein company Volare raised €7.1 million and opened a factory to scale production. Fur Farming: Finland has asked the EU for an exemption to keep mink farming at 134 sites beyond the bloc’s 2027 ban, putting the sector’s future in focus. Energy Infrastructure: Finland has licensed its first permanent repository for spent nuclear fuel, a major step in long-term waste management. Data-Centre Costs: Google’s Finnish data-centre projects face backlash over reported tree clearing, adding to scrutiny of the land and environmental impacts of digital infrastructure.

Aviation: Finnair has stopped adding fuel hedges as jet-fuel costs surge and says higher costs are feeding into ticket prices; 34% of its 2027 fuel needs are hedged. Telecoms: DNA added 36,000 mobile and 1,000 broadband customers in the third quarter, with business showing signs of improvement despite fierce competition. Defence: Finland’s armed forces have adopted the RGW 110 anti-armour weapon, while Finnish defence-tech startup Arctic RAVN secured €2.5 million in loan commitments to expand drone-electronics development. Energy Storage: Delta Capacity closed financing for a Finnish battery-storage project, and Ingrid Capacity and Alpiq are exploring Nordic projects of up to 500 MW. Industry: Nokian Tyres’ third-quarter profit rose 73.5%, with North American sales growing. Data Centres: Google faces backlash and a halt to Finnish data-centre work after clearing hundreds of thousands of trees before environmental review was complete. Nuclear Waste: Finland’s Posiva received approval to operate its used nuclear-fuel repository, a first-of-its-kind facility. Food Technology: Volare completed a €15 million Finnish insect-protein factory.

Energy Storage: Delta Capacity has secured financing for two Finnish battery projects totaling 250MW/600MWh. Construction is underway, with operations targeted for late 2027. Business Climate: Finland’s consumer confidence fell to -9.7 in October, as households grew more pessimistic about both personal finances and the national economy. Manufacturing: Nokian Tyres reported a 73.5% rise in third-quarter profit, with North American sales growing. Food Innovation: Volare opened an insect-protein factory in Finland and raised €7.1 million to expand production. Data Centres: Google’s Finnish site work was ordered to stop after extensive tree clearing sparked environmental concerns. Nuclear Waste: Finland’s Posiva received approval to operate the world’s first permanent spent-fuel repository. Trade: Finnish and Indian business leaders called for concrete partnerships to expand trade, investment and technology cooperation.

Ukraine Rebuild Finance: Finnvera and the European Commission signed an agreement that could secure €240 million for Ukraine’s reconstruction, opening opportunities for Finnish firms in energy, logistics, digital infrastructure and critical materials. Defence Technology: Finnish startup Arctic RAVN secured €2.5 million in loan commitments ahead of its first product launch. Data Centre Scrutiny: Work at two Google data-centre sites in Finland was ordered suspended after controversy over large-scale tree clearing, putting environmental review and project approvals in focus. Food Innovation: Volare opened a €15 million insect-protein factory and raised €7.1 million to expand production. Nuclear Waste: Finland’s Posiva received approval to operate its permanent spent-fuel repository, a major step for the country’s nuclear sector. Telecoms: Nokia reported a 35% rise in comparable profit but lowered its cash-flow assumption.

Data Centre Pushback: Google has been ordered to suspend work at two Finnish data centres after tree clearing triggered environmental scrutiny, putting pressure on plans to expand AI computing capacity. Digital Gambling: Finland has approved licences for Nordplay Group, 7bet and SkillOnNet ahead of the regulated online market’s planned July 2027 launch. Food Innovation: Insect-protein producer Volare opened a Finnish factory with annual capacity of 5,000 tonnes and raised €7.1 million to expand. Nuclear Waste: Posiva has received approval to operate Finland’s permanent spent-fuel repository, a landmark for the country’s nuclear industry. Manufacturing Costs: Producer prices for Finnish manufactured goods were up 9.8% year on year in September, driven especially by refined petroleum and basic metals.

Data Centre Scrutiny: Finnish authorities ordered Google to halt preparatory work at its Muhos and Kajaani sites until environmental assessments are complete, after extensive forest clearing sparked local opposition. Nuclear Waste: Finland has licensed Posiva’s permanent spent-fuel repository, a landmark step toward putting the facility into operation. Food Innovation: Insect-protein producer Volare raised €7.1 million and opened a new Finnish factory as it scales production. Food Industry: Apetit CEO Esa Mäki will leave next May; the company says its growth strategy remains unchanged. Industrial Technology: The University of Turku is testing multi-metal 3D printing to produce components with different materials in one part. Shipping: Wasaline secured a two-year bio-LNG supply deal with St1 Biokraft. Defence Industry: Finland and Japan signed an agreement setting rules for transfers of defence equipment and technology, with both sides signalling interest in closer industrial cooperation.