Circular economies have long been part of the Arctic landscape: Summit report

Last week’s Arctic Circular Economy Summit (ACES) was hosted by Kirkenes, Norway – an appropriate choice, given that it’s the most northerly town in Europe.

The event was a mix of high-level insights and lively discussions involving people who are determined to make circularity not just a concept, but a reality.

Mayor Magnus Mæland of the Sør-Varanger municipality opened the event with a local saying: “If something works here in the North, it works everywhere.”

In other words, the Arctic is the ultimate testbed for innovation. Beyond its constraints, it is a land of opportunities. “Kirkenes and its surroundings are not asking for attention, they are offering capacity,” Mæland said, referring to the region’s minerals and clean energy (and not forgetting the port of Kirkenes, one of the most international and strategic in the Arctic).

The event took place at Nothing Hill, a former hospital that has been transformed into a growing Arctic innovation and entrepreneurial hub. It was the perfect place to bring together entrepreneurs, investors, and circular economy enthusiasts from across the region.

Amid lots of talk about cutting-edge solutions, Halla Nolsøe Poulsen reminded the audience that circularity is nothing new for the Far North. “Here in the Nordics, people always had to make things last, the Director of the Nordic Atlantic Cooperation (NORA) said. “It used to be called common sense.”

‘Waste is the new oil’

While reusing materials has returned to the forefront of business discussions as an environmentally friendly tool, these days there is also a geopolitical dimension.

“Waste is the new oil,” said Iiro Kankaansyrjä. He is CEO of Kapasity Oy, a Finnish family-owned company specializing in solutions for industrial and commercial waste management.

To Kankaansyrjä, the logic is crystal clear: Countries spend vast amounts buying products abroad, when many already have everything they need – they just need to look at their own waste.

He highlighted why waste matters now more than ever. While rebuilding Ukraine will push prices higher across many industries, an even greater risk lies in shifting alliances, something no country can afford to ignore in today’s geopolitical turmoil.

The Northern chicken-and-egg problem

Irina Zhilina, Senior Adviser at the Arctic Economic Council, summed up the situation perfectly.

“We have fish to feed the world, green energy to power industry, and raw materials to enable the green transition. But we lack people, infrastructure, and investment,” she said.

So, what should come first: People, infrastructure, or investment?Attracting talent requires jobs, but jobs require housing, roads, hospitals, and more. While the question remains open, one thing is clear: young people are key. Innovation depends on whether they can make a living up here.

“Don’t leave,” Poulsen urged Arctic youths. As for those who have already left, “remember where you come from and bring back your knowledge.”

NORA places both young and older generations at the heart of its strategy: youth for innovation, elders as mentors and business angels.

Finding investors willing to take risks in remote areas remains a challenge. Yet events like ACES help spotlight untapped potential beyond AI in areas such as creative industries, hardware, and new business models.

Icelandic companies were among the most inspiring examples. A unique concept was presented on stage.

Lava Show, a company offering live lava experiences, turns food waste into “fiery magic using biogenerated methane gas from a local waste and recycling company in Iceland,” explains co-founder Ragnhildur Ágústsdóttir.

Return on investment: connections and collaboration

The true return on investment for attending such events lies in the connections made and collaborations sparked. People from more than 10 countries gathered in Kirkenes with a shared ambition: to make the Arctic a better place to live.

Brynjar Andersen Saus, Project manager of True North 2026, the lead organization for Tromsø as European Youth Capital next year, explained that the Arctic, instead of being seen as marginalized, remote, or hopeless, should be defined by words such as “excitement, opportunity, and safety: a place that gives young people the opportunity to live a good life, do what they want, be who they want.”

For Ondrej Spala, the event director, the goal was simple yet ambitious: connect people and create concrete collaborations that can benefit the entire region.

It’s precisely what participants look for when traveling to such events. A full bus of Finnish entrepreneurs and members of the startup ecosystem made the long journey to Kirkenes. That is why the Lapland Startup Incubator, among others, decided to bring a whole group, as project manager Markus Pellikka explained.

“In startup culture, people always have something to share: a contact, an idea that can lead to progress, he said. “This kind of event is borderless. If we do not manage to help those talented people, they will move away.”

Mission accomplished

Mission accomplished for ACES 2025. Between panels and coffee breaks, the air buzzed with ideas, new partnerships, and cross-border connections.

ACES proved that such gatherings don’t just inspire; they act as conveners of opportunities, a best-practice approach that deserves to be replicated elsewhere. As bands go on tour, maybe the Arctic Circular Economy Summit should go on an Arctic tour too!

Arctic Studios is the branded content arm of Arctic Today, the most reliable source of information on the Far North. Partner with us to reach our growing audience and tell your story about investing in this vital region.