Tesi negotiates investment in TNT factory project
The Ministry of Defence initiated a project in early 2024 to explore the feasibility of establishing a TNT factory and to find an implementing entity for it. The project is being carried out by the Finnish explosives manufacturer Forcit Oy Ab.
Tesi is negotiating a minority investment in the project company.
TNT, or trinitrotoluene, is a commonly used explosive that has long been utilized in military applications. Currently, there is limited capacity for TNT production in Europe.
The production and logistics solutions regarding the new facility to be built will be designed with the environment and residents in mind.
“The project is significant not only for Finland’s security but also for its economic impact, making it an excellent fit for Tesi,” commented Tesi’s Investment Manager Miikka Salminen.
Update 24 June 2026: Tesi has made a minority investment in the project company.
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Additional information:
Miikka Salminen, Investment Manager, Industrial Investments
miikka.salminen@tesi.fi
+358 40 535 4758
Tesi (officially Finnish Industry Investment) is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies, and to new industrial scale businesses. tesi.fi | X (Twitter) | LinkedIn | Instagram | Bluesky | Threads | Newsletter