Petr Palkovsky Interview: Ecological Transformation Through Innovation

PETR PALKOVSKY, founder of Palkovsky Group, has taken an unusual path – from marine biologist to leader in the development of sustainable industrial resources. Today, he combines innovation, environmental responsibility and essential material management to meet the challenges of green transition and energy independence.

Your career began in the field of marine biology, and today you work in the sector of essential raw materials. How did that transition happen, and what guided you through those changes?

It all began with a deep respect for natural ecosystems. While working in marine biology, I quickly recognized how sensitive marine environments were. That awareness guided me when I later entered the paint industry, where I discovered the use of outdated, toxic materials. I began reformulating them into safer, water-based alternatives—better for both people and the planet.

That effort led to the creation of a large, environmentally focused chemical company. But my passion remained rooted in nature, so I sold the company and returned to marine biology and aquaculture consulting. It was during that period I recognized the coming shift away from fossil fuels and toward electrification and renewable energy. That prompted a new question: What raw materials will power this transition?

This curiosity led me to the Balkans, where I began working with top geologists and eventually discovered a rare deposit of sodium borates in Serbia. Today, that discovery is being developed in a way that mirrors my earlier work—rethinking extraction to make it more sustainable, less harmful, and ultimately beneficial for communities and ecosystems.

What was your journey like — from emigrating abroad to founding your own company and returning to the Balkans?

Immigrating is never easy. I was eight years old when my family fled Czechoslovakia under political unrest. We arrived in Canada with nothing but a suitcase. That experience taught me resilience and resourcefulness—whether it was collecting recyclable cans for a few cents or hunting for discounted food to get by.

As an immigrant child, you grow up fast. You’re not just part of a family; you become a teammate. That upbringing sharpened my ability to spot opportunities where others might not—and that mindset has stayed with me throughout my life.

Going back home to my Slavic lands was a tremendous “Aha” moment. When I looked around and saw the people, the food, the mentality and breathed the air and drank the waters, I realized this is where my roots run deep and strong. I am Slavic, through and through!

How does Palkovsky integrate innovation into its projects in the context of environmental protection?

We’re working in a region of Serbia that has undergone decades of open-pit coal mining. The environmental damage is vast—kilometer-wide scars on the land. But instead of abandoning these sites, we’re reimagining them.

Our project integrates remediation and geothermal development at the heart of its design. By repurposing degraded land and leveraging existing infrastructure, we aim to restore ecosystems and turn former environmental liabilities into long-term benefits.

Borates are an essential raw material for many industries, but also for the green transition. How do you view their importance?

Borates are absolutely vital. They're used in over 300 applications—from agriculture and food supply to electronics, glass, insulation and many more beyond your belief. If borates disappeared tomorrow, the global supply chains would be adversely impacted within weeks.

There’s no substitute for borates and global supply is limited. Today, the two primary sources are in California and Turkey. But the California deposit is over a century old and nearing depletion. This makes new, responsibly developed sources critically important.

How do you see the potential of geothermal energy in Serbia?

Serbia has significant geothermal potential. In regions like Valjevo, deep underground thermal water could serve as a clean, sustainable energy source. We’ve already conducted deep drilling that confirms the presence of hot water, and historical data from Valjevo during Yugoslav times, also saw this potential.

Now, it’s about putting that knowledge into action—replacing fossil fuel heating systems with geothermal energy. It’s a massive opportunity for Serbia’s energy independence and sustainability.

What is your view on the potential of Serbia and the region when it comes to responsible resource management?

Serbia has a rich legacy of innovation and scientific advancement—just think of Nikola Tesla. Today, it can once again be a leader by demonstrating how natural resources can be developed responsibly.

This project reflects that mindset. Like my journey as a child, entering a world I didn’t understand—I’ve learned to look for value where others may not. Thus the approach is to challenge conventional thinking and find a better path forward, not just for industry, but for society and nature alike.

What is your message to young people who want to work in this industry?

Don’t limit yourself to labels or industries. For example, what we’re doing combines geothermal energy, land remediation, and resource innovation—it’s not one thing. The key is to stay curious.

Read constantly. Ask questions. Learn from people with experience. There’s so much wisdom to gleam from older generations that often goes untapped. Be humble, be kind, and always keep your mind open. The universe is full of unknowns—and the more you explore them, the more meaningful your life and work will become.