Baltic synchronisation achieved global recognition by winning PMI’s Project of the Year award
The Baltic countries’ synchronisation with continental Europe won the prestigious Project of the Year award at the Project Management Institute (PMI) awards ceremony held in Phoenix, Arizona. One of the largest and most widely renowned associations of project management professionals recognized the successful implementation of this complex project ahead of schedule.
“This global recognition once again confirms that the synchronization of the Baltic countries with the continental European electricity networks is a strategic achievement for our energy independence and a success story in global project management. It is the result of teamwork, professionalism, unity, and determination on the part of all partners. We are proud that Lithuania, together with its neighbours, has proven that it can implement the most complex energy infrastructure projects ahead of schedule and set an example for other countries,” says Lithuania’s Energy Minister Žygimantas Vaičiūnas.
“The Baltic synchronisation project has received global recognition for its project management excellence, which is a great achievement for Lithuania, the other Baltic countries and Poland. The Baltic synchronisation project is not only an important step towards Lithuania’s energy independence and security, but also an example of how focused project management can yield significant results for society. Together with our partners, we are joining the ranks of major international companies and US and Canadian government agencies that have won these awards in recent years,” says Rokas Masiulis, CEO of Litgrid.
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Originally published on 14 Nov
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P2X Solutions is supplying green hydrogen to Finland’s first synthetic kerosene production pilot, which manufactures emission-free aviation fuel, or eSAF. The pilot, led by technology company Liquid Sun, involves Finnair, Finavia, Fortum, and ABB.
Green hydrogen and biogenic carbon dioxide offer the opportunity to decarbonise sectors such as aviation, where direct electrification is not feasible. eSAF made from hydrogen can be introduced into existing aircraft using the current infrastructure without major changes. Hydrogen enables a rapid and large-scale transition to cleaner aviation.
“The production of eSAF is a huge opportunity for Finland. Across Europe, approximately 46 million tons of aviation fuel are used annually, and Finland has an excellent starting point for eSAF production,” says Herkko Plit, founder and CEO of P2X Solutions. “We have access to abundant emission-free electricity, clean water, biogenic carbon dioxide, and a growing amount of expertise in the production of new-generation fuels.”
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Originally published on 13 Nov
Our portfolio company Yaga, the fast-growing online marketplace for secondhand fashion, has raised €4m in a pre-Series A funding round. We participated in the round together with Specialist VC, H&M Group, Startup Wise Guys, and a group of angel investors.
Resale platforms are no longer niche – they’re becoming mainstream shopping destinations. The global second-hand apparel market grew by about 15% in 2024, reaching $227 billion, and is forecast to reach $367 billion by 2029*. Yaga is at the centre of this global shift.
Over recent years, Yaga has doubled in size annually, reaching a €50m+ GMV run rate. The company is now profitable and has achieved this scale with a 25-person team and just €3.2m raised prior to this round, showing the efficiency of its model alongside strong market demand. Yaga has built a particularly strong presence in South Africa, where it has become the leading online fashion resale platform. Globally, sellers have earned more than €80 million to date, and more than 6 million items have found new owners, extending their life and reducing textile waste.
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Originally published on 12 Nov
Port or Klaipėda continues to move along its green course. The port’s terminals have already received the new on-shore power supply systems, and installation is now underway. Testing is planned to begin later this year, and by next year ferries calling at the designated ro-ro terminals will be able to switch off their engines and draw clean electricity from shore -significantly reducing air pollution and noise. The OPS infrastructure being installed in the port is designed specifically for ro-ro vessels, with a total of four shore-power connection points to be set up for ferries.
“Klaipėda Port’s green vision is becoming reality – sustainability here is no longer just a promise. With shore-side electricity, ferries will be able to shut down their engines and reduce their environmental footprint to almost zero. And this is only the beginning. It’s more than a technological milestone – it’s our commitment to the city, its people, and a cleaner future for our sea,” says Algis Latakas, CEO of the Klaipėda State Seaport Authority.
This initiative marks a significant step in Klaipėda Port’s wider shift toward electrification. Earlier this autumn, the port installed its first on-shore power system at the Fleet Base, designed mainly to support the new hydrogen and electric-powered waste collection vessel now nearing completion. The systems now being put in place at the two terminals are specifically tailored for ferries and ro-ro vessels operating between Klaipėda and Denmark, Sweden, Germany and Poland, carrying rolling cargo. In the coming years, similar systems are planned for other terminals as well, enabling shore-side electricity for cruise ships and container vessels.
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Originally published on 10 Nov
On 6 November, more than 80 participants gathered at Tehnopol for a sold-out event hosted by the NATO DIANA Estonian Accelerator. The aim was to help defence and dual-use startups gain a clearer understanding of current needs in Latvia and see where their work could meaningfully contribute within the regional landscape.
The keynote was given by Rihards Miķelsons, Head of Industry Development at the Autonomous Systems Competence Centre of Latvia. He introduced the Centre’s testing environments across land, sea and urban settings, and explained how operational experience and structured trials support companies moving toward real deployment. For founders, the key takeaway was that collaboration in Latvia is practical and within reach. There are defined paths to test systems, gather feedback and understand user needs in conditions that reflect real use rather than laboratory evaluation.
Regional cooperation was discussed with a view to the near future. Estonia has been part of the NATO DIANA accelerator network since the pilot year and will launch its third cohort in 2026. Latvia and Finland will open their DIANA accelerator programmes in 2026. Bringing teams together at this stage helps establish shared understanding early and supports the development of solutions that are relevant across borders. For the Estonian accelerator, strengthening these relationships is important for continuing to broaden the ecosystem and ensure that promising technologies are able to develop into practical, deployable capability.
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Originally published on 7 Nov
On November 6, the opening event of AI Salon Riga took place at the Tet headquarters – the first gathering in Latvia of the global artificial intelligence community AI Salon.
The Latvian Association of Artificial Intelligence (MILA) was honored to participate in the event, where Chair of the Board Oksana Sivokobiļska shared her vision for the development of Latvia’s AI ecosystem and the need to strengthen cooperation between the public sector, academia, and industry.
The goal of AI Salon is to bring together people who work with artificial intelligence daily – developers, entrepreneurs, researchers, investors, and product specialists – to exchange experiences, build new connections, and collectively strengthen AI literacy in Latvia.
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Originally published on 11 Nov
The XVIII UBC General Conference concluded in Słupsk and Dolina Charlotty after four days of lively discussions, practical workshops, and strategic debates on the role of cities in the future of the European Union. The event, which brought together 200 people from partner organizations, EU institutions, and UBC member towns, reaffirmed the network’s primary goal of creating a more resilient, innovative, and united Baltic region.
The tone was set by two high-level plenary sessions. The Opening Plenary included European and local leaders, such as Magdalena Adamowicz (Member of the European Parliament), Krystyna Danilecka-Wojewódzka (Mayor of Słupsk), Aleksandra Dulkiewicz (Mayor of Gdańsk, Member of CoR), Mantas Jurgutis (UBC President), Dr Gustav Lindström (Director General, CBSS), Henryka Mościcka-Dendys (Undersecretary of State, Polish MFA), Marcin Skwierawski (Deputy Marshal, Pomorskie Voivodeship), and video addresses from Themis Christophidou (DG Regio) and André Sobczak (Eurocities). One thread ran through all of their messages: cities need to be acknowledged as important collaborators in determining the future of Europe.
The second plenary explored cities’ access to EU funds within the MFF 2028–2035, featuring contributions from Kieran McCarthy (CoR), Claire Roumet (Energy Cities), Laura Omucińska (Słupsk), Linda Ozola (Riga), and Henrik Johansson (Växjö). The discussion highlighted both opportunities and challenges for cities in navigating EU programmes.
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Originally published on 7 Nov
The Latvian Association of Artificial Intelligence (MILA) has developed the first practical guidelines for state and municipal institutions on the implementation and use of artificial intelligence (AI) solutions in public administration. The guidelines will help institutions better understand the potential of AI and more clearly understand how to organise the process of introducing and applying AI solutions.
The document was created within the project “Development of Practical Guidelines for the Introduction of Artificial Intelligence in Institutional Work and Services,” in cooperation with AI Master Lab experts, commissioned by the State Administration School (VAS) and with methodological support from the Ministry of Smart Administration and Regional Development Republic of Latvia (VARAM).
As MILA emphasises, the purpose of the guidelines is to provide a practical and easy-to-use framework for public institutions, enabling them to assess the suitability of AI use, prepare their organisations for the introduction of such technologies, and ensure a responsible, transparent and publicly accountable approach to the use of AI.
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Originally published on 10 Nov
New Impact Study: Maritime Travelers Bring Nearly One Billion Euros to the Helsinki Region’s Economy
A new study by the University of Helsinki shows that the Port of Helsinki is a major driver of both the economy and employment. The total annual economic impact of port operations amounts to €4.2 billion, generating over 39,000 jobs.
The Port of Helsinki serves as a key hub for both Finland’s international trade and passenger traffic. In 2024, 14 million tons of goods passed through the port – around 16 percent of Finland’s total foreign trade. Passenger volumes reached 9.5 million, accounting for 70 percent of all international passenger traffic through Finnish ports.
“The Port of Helsinki is not only a vital logistics hub serving the entire country and is also a significant contributor to the economy and job creation. Its influence can be seen widely across business performance and the city’s tax revenues,” says Ville Haapasaari, CEO of the Port of Helsinki.
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Originally published on 6 Nov
Kilo Health, a healthtech creator and investor, is expanding beyond health as it transforms into Kilo – marking a new ambition to accelerate startup growth through increased investment and its internal business development ecosystem, Kiloverse.
Žygimantas Surintas, who joined the company a year and a half ago, remains the head of the Kilo group of companies. According to him, Kilo and Kiloverse will separate investment activities from day-to-day operations – a natural step that reflects the company’s growing maturity and long-term strategy for sustainable growth.
“Over the past twelve years, we have created numerous health and wellness solutions – from digital apps to physical products that help millions of consumers around the world live healthier, better quality lives. We are also developing products in other areas including beauty and personal development. Now our goal is not only to create ourselves, but also to invest more actively in startups, helping them to develop global businesses better and faster,” says the CEO of Kilo.
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Originally published on 10 Nov
In the framework of a continuous dialogue with the Italian Ambassador to Poland and his staff, on November 4, 2025, Finnlines Line Manager and Managing Director, Rederi AB Nordö-Link, Antonio Raimo discussed in Warsaw the shipping company’s expanding operations and investments in Poland. Finnlines has operated routes between Poland and Finland for three decades and, last year, launched a new connection for freight and passengers to Sweden.
“Our new investments have enabled us to expand our presence in Poland with additional offices and larger local teams. We are also pleased to further strengthen and broaden our connections across the region. We also had the opportunity to discuss the current and upcoming challenges of the shipping industry, both in Poland and across the Baltic Sea, to ensure the continued development and success of Poland’s maritime network and the security of supply,” says Antonio Raimo, Finnlines Line Manager.
Strong growth on Poland–Sweden route
This summer, passenger numbers on Finnlines’ route between Świnoujście and Malmö rose by 38% compared to the same period last year, highlighting the growing interest in travelling across the sea between the two countries.
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Originally published on 5 Nov