Immersion pontoon IVY passes final test and receives approval
The immersion pontoon IVY has passed its final tests and is now approved by the Danish Maritime Authority. Therefore, the contractor Femern Link Contractors (FLC) can begin preparing to immerse the first tunnel element into the dredged tunnel trench off Lolland’s coast this spring.
The special vessel IVY is comprised of two distinct units: IVY 1 & 2. Prior to the transportation and immersion of a 217-metre-long standard tunnel element, each end is securely attached to IVY 1 & 2, which provide buoyancy. For the handling of the 39-metre-long special elements, IVY 1 & 2 are joined to form a single vessel, facilitating the immersion process. Together, IVY 1 & 2 are equipped with 23 kilometres of steel wire spread over 66 winches, enabling them to submerge tunnel elements to depths of up to 40 metres with exceptional precision.
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Originally published on 3 Apr
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Critical Infrastructure Technologies Ltd. (CiTech), an Australian developer of cutting-edge mobile communications platforms, has announced the establishment of its wholly owned Latvian subsidiary SIA CiTech Europe, with plans to make Latvia the company’s European headquarters by 2026. The decision marks a significant milestone in CiTech’s global growth strategy and positions Liepāja as a key hub for the company’s European manufacturing, sales, and innovation activities.
CiTech’s planned facility will be in the Liepāja Special Economic Zone (LSEZ), taking advantage of the region’s excellent logistics, access to European markets, and competitive tax incentives — including a corporate tax rate of just 4% within the SEZ.
The company’s CEO, Brenton Scott, emphasized Latvia’s strategic importance for CiTech’s European expansion: “Our engagements with Latvian authorities have confirmed Latvia’s attractiveness as the home for our European headquarters. We are very excited to be accelerating our establishment in Latvia, building strong partnerships and creating a hub to support defense, border security, surveillance, and innovation across the European market.”
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Originally published on 16 Nov
Vidzeme Planning Region (VPR) continues to actively represent the interests of Latvia’s eastern border area at the European Union level, maintaining ongoing dialogue with the European Commission and international partners to ensure that the region’s situation is duly reflected in policy planning and decision-making. The needs of Latvia’s eastern border area are also represented by VPR within the EU interregional initiative Regio-Silience, which brings together external border regions from Poland, the Baltic States, Finland and Norway.
Within this initiative, Vidzeme Planning Region is represented by Santa Vītola, Head of the Vidzeme Open Innovation Hub (VAIC), who this autumn participated in the interregional seminar “Regio-Silience in East Lapland: North-Eastern Europe’s attractiveness” held in Salla, Finland. She provided a professional regional perspective in international discussions and thematic working groups, highlighting both the shared challenges of the EU’s external border regions and the development and security priorities set by Vidzeme Planning Region.
Ms Vītola reminded participants that Vidzeme Planning Region, just like the Latgale Planning Region, is an external border region of the European Union, characterised by specific security, development and mobility challenges.
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Originally published on 14 Nov
Finland could accelerate clinical trials through a “one-stop shop” model and shared systems and practices. This is outlined in Sitra’s publication FinTrials – National Framework for Clinical Drug Trials (summary in English).
Finland has long been known for its high-quality healthcare and strong research expertise. However, the number of clinical drug trials conducted in recent years has clearly declined. Reasons for this development include fragmented operating models, insufficient national coordination, and slow and complex processes.
“To strengthen Finland’s position as an attractive country for clinical drug trials, we need more cooperation and national-level coordination. Many other European countries, especially the Nordic countries, have shown that national cooperation is an effective way to increase the number of clinical drug trials,” emphasises Petri Lehto, leader of Sitra’s DigiHealth project.
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Originally published on 14 Nov
CFinnair continues to grow its European network and adds a total of 12 new destinations to its offering for summer 2026 from its Helsinki hub. Routes to Alta, Catania, Florence, Kos and Valencia were announced earlier this year, and Finnair now opens to sale flights to Kuressaare in Estonia, Luxembourg, Stavanger in Norway, Thessaloniki in Greece, Tirana in Albania, Turin in Italy and Umeå in Sweden.
Finnair also responds to the demand for Lapland and starts direct flights from three European cities – Brussels, Paris, and Zurich – to Finnish Lapland in winter 2026. These direct flights complement Finnair’s broad offering of daily connections to Lapland via its Helsinki hub.
With these additions, Finnair’s network for 2026 comprises of a total of 93 European destinations, 11 Asian destinations, seven North American destinations (including Toronto, which opens in summer 2026), and two destinations in the Middle East.
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Originally published on 13 Nov
Rail Baltica took part in the IE Center for Transport Economics & Infrastructure Management’s high-level round table on “The Role of Railways in a New European Defence Policy” on November 11.
Representatives from European organizations, defence ministries, and the transportation industry came together to talk about how railways might help Europe achieve its security and defence objectives. Lieutenant General Luis Lanchares of NATO, Herald Ruijters, Deputy Director General for Defence, Industry, and Space at the European Commission, and Julio Gómez-Pomar, President of the IE Center for Transport Economics & Infrastructure Management, were among the speakers.
Marius Narmontas, Chief Operations Officer and Management Board Member of RB Rail AS, participated in the panel discussion on “Railways and Transportation for Defence” on behalf of Rail Baltica. He described how the project’s architecture allows for dual-use infrastructure that supports both military and civilian logistics demands.
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Originally published on 13 Nov
This year, the International Employer of the Year in Oulu competition sought inspiring success stories with the goal of sharing best practices in international recruitment and strengthening Oulu’s reputation as an attractive hub for global talent.
The award decision highlighted that high-tech company Visidon has understood from the very beginning how international workers can strengthen business. Around ten percent of Visidon’s employees are international talents. The company offers equal opportunities for both Finnish and foreign employees. Language skills or the lack of them are not a barrier, as English is the official company language.
International employees are fully integrated into the work community and are not treated as a separate group. Visidon also has a tradition of organizing Nights of Culture events, where employees showcase aspects of their culture, such as food.
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Originally published on 14 Nov
One of the largest private equity funds in CEE, INVL Private Equity Fund II, has completed the acquisition of a 75% stake in Eesti Keskkonnateenused (EKT), the largest waste management group in Estonia.
While this is the fund’s first investment in Estonia, the acquisition builds on its team’s strong experience in the sector. Back in 2020, the predecessor fund, INVL Baltic Sea Growth Fund, acquired a controlling stake in Eco Baltia, which during the investment period was developed into the largest environmental resource management and recycling group in the Baltics.
“With this transaction, we are backing a strong Estonian market leader with consistent performance. Drawing on our experience with Eco Baltia, we aim to assist EKT in growing and thriving in Estonia’s circular economy. Having more than EUR 400 million to invest, we plan to further support the expansion of EKT and seek other investment opportunities in Estonia and abroad,” said Vytautas Plunksnis, Partner at INVL Private Equity Fund II and INVL Baltic Sea Growth Fund.
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Originally published on 12 Nov
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