Magsort

About Magsort

Magsort Oy, founded in 2014 by Niklas Törnkvist, is a Finnish decarbonization company focused on the circular economy for industrial waste streams. The company has developed a proprietary technology to process steel slag and incinerator bottom ash (IBA), extracting valuable metals and refining the remaining mineral content into useful products. Törnkvist, who also serves as Head of New Business Development, guides the company's commercialization and decarbonization agenda. In April 2025, Kalevi Kostiainen, an early investor with over two decades of experience in the telecommunications sector, was appointed CEO.

Magsort primarily serves the steel, cement, and waste-to-energy industries. For steel producers, the company offers a Build-Own-Operate (BOO) service model. Magsort finances, installs, and maintains its processing lines at client sites, sharing the value generated from the increased metal recovery. This approach eliminates upfront capital expenditure for the steel plant. The core of Magsort's offering is a patented, high-energy centrifugal mill capable of crushing fine materials to liberate trapped metals. This technology reportedly doubles the metal recovery rate from steel slag compared to conventional methods, achieving purity levels of 80-95%. The recovered steel is pure enough to be fed directly back into the steel-making process.

A key differentiator is the subsequent refining of the leftover mineral aggregate into a zero-CO2 raw material for the cement industry. This creates a secondary revenue stream and provides cement manufacturers with a substitute for clinker, potentially reducing their CO2 emissions by up to 35%. For the waste-to-energy sector, Magsort's dry process recovers precious metals from the finest fractions of incinerator bottom ash, which are often lost in traditional wet milling processes. The company has established a significant footprint, having processed over 500,000 tonnes of IBA in the Nordic countries and secured contracts with steel producers in India and Oman. A major milestone was the closing of a €15 million financing round in November 2021, backed by investors like the Finnish Climate Fund and Valkea Growth Club, to accelerate global commercialization.