New study: Finns believe that the most successful fields for Finnish companies in the future are cleantech, health technology and the forest industry

Press Release 26.4.2017 13:00 EEST

(UPM, Helsinki, 26 April 2017 at 12:00 EET) - According to a new research study, Finns believe that in future, domestic companies will be most successful in environmentally sustainable technologies, health technology and the forest industry. One example of a Finnish cleantech innovation is the wood-based biofuel produced from forest industry residues.

According to a recent research study by the Association for Finnish Work, Finns believe that the biggest chances of future success for domestic companies lie in environmentally sustainable technologies (46%), the forest industry (30%) and health technologies (30%). Success in the renewable energy industry is also deemed likely (28%).

"The study results confirm our impression that people believe Finnish companies will help solve future global issues like challenges related to the climate change and sustainable development. Companies in these fields have an enormous growth potential all over the world," says Tero Lausala, CEO, The Association for Finnish Work.

One example of a Finnish cleantech innovation is the wood-based UPM BioVerno diesel developed by UPM. It is a Finnish Key Flag product produced in the Lappeenranta Biorefinery using crude tall oil. The product development maximises the utilisation of sustainable wood raw material.

Crude tall oil is a natural wood extract, mainly from the resin of coniferous trees, gained as a residue of pulp production. Therefore, the production of UPM BioVerno does not require any extra felling of trees.

"Innovations that reduce the harmful climate effects of traffic and driving are extremely important. Unlike traditional biofuels, UPM BioVerno is derived from non-food materials, and is suitable for all diesel engines without needing to be blended. Its greenhouse gas emissions and local road traffic emissions, like nitrogen oxides and particles, are significantly lower compared to traditional fossil diesel," says Sari Mannonen, Vice President of UPM Biofuels.

In which fields do you believe Finnish companies have the greatest chances of success in the future? Please choose the three most important.

  1. Environmentally sustainable technologies 46%
  2. Forest industry 30%
  3. Health technology 30%
  4. Renewable energy 28%
  5. Gaming industry 22%
  6.  Education export 21%
  7. Information technology 20%
  8. Shipping industry 18 %
  9. Expert services 14%
  10. Food products 13%

The survey information is based on the Made by Finland campaign study by the Association for Finnish Work. The survey was conducted by the market research company Taloustutkimus in February 2017, and responses were received from 2219 Finns aged 18-79. The Made by Finland campaign is a collaboration between the Association for Finnish Work, its members and collaborative organisations, and it celebrates Finnish work and its success stories. More than 80 companies and organisations take part in the campaign. Follow Made by Finland on Facebook and Twitter: #madebyfinland.

For further information please contact:
Sari Mannonen, Vice President, UPM Biofuels,, +358 45 265 1345
Tero Lausala, CEO, Association for Finnish Work,, +358 50 407 2623
Jokke Eljala, Research Director, Association for Finnish Work,, +358 50 374 7410

UPM, Media Relations
9.00-16.00 EET
tel. +358 40 588 3284

The Made by Finland campaign is a collaboration between the Association for Finnish Work, its members and collaborative organisations, and an official part of Finland's centenary programme. More than 80 member organisations of the Association for Finnish Work participate in the campaign that aims to build pride in the diversity of Finnish work. Made by Finland also brings together experts of the Finnish working life. As part of the Made by Finland campaign, the Association for Finnish Work, the Finnish Funding Agency for Technology and Innovation (Tekes), the Työelämä 2020 initiative and the Finnish Institute of Occupational Health are reviewing and developing the Finnish working life and its strengths.

UPM Biofuels plans to become a major player in high quality, advanced biofuels for transport. Biofuels are an essential part of UPM's Biofore strategy. The innovative, wood-based biofuels developed by UPM and the production technologies used are an integral part of a sustainable future. UPM biofuels are frontrunners in quality, usability and sustainability. They will significantly decrease greenhouse gas and local road traffic emissions compared to fossil fuels.

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