KONE and TKE to combine, creating a world-class company in the elevator and escalator industry
KONE Corporation and a consortium led by Advent and Cinven, through their jointly controlled holding company Vertical Topco I S.A., have entered into an agreement to combine KONE and TKE in a cash and share transaction.
This industry-revitalizing transaction brings together two exceptional global businesses with highly complementary geographic footprints and innovation platforms. The combined group would have a balanced global presence, leading service and modernization capabilities, and the resources to accelerate the development of new solutions and digital services. As such it would be in a better position to meet its customers’ rising demand for safe, sustainable and data driven urban vertical transportation solutions. The combination would offer substantial value creation from realized synergies, estimated to be approximately EUR 700 million on an annual run-rate basis, benefitting customers and shareholders alike.
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Originally published on 29 Apr
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The CREWS project, which aims to strengthen disaster risk reduction through community engagement and cooperation in the Baltic Sea Region, has officially launched with a kick-off meeting in Hamburg-Altona on 27–28 March 2025.
CREWS – or Enhancing Capacities in Disaster Risk Reduction by Facilitating Public-Civil Cooperation – seeks to empower local communities by bridging the gap between formal authorities and civil society actors in disaster management.
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Originally published on 28 Mar
The City of Tallinn has submitted its application to become a Zero Waste Candidate City under the Mission Zero Academy (MiZA) certification scheme, makingi it the first Estonian city to join the programme.
The Zero Waste Cities programme is an initiative of Zero Waste Europe aimed at helping cities transition to zero waste systems. Through certification, cities gain a strong framework for turning ambition into concrete action. The process will help Tallinn refine its strategy, better engage residents, and accelerate the shift towards waste prevention practices and material reuse and recycling.
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Originally published on 27 Mar
NIB and Eskilstuna Biogas AB have signed a seven-year loan to co-finance the construction of a new biogas production plant in a facility near Eskilstuna, Sweden. The EUR 15 million loan is supported by the European Union under the InvestEU programme and is eligible under NIB’s InvestEU Framework Operation Green Mobility and Transport.
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Originally published on 26 Mar
Executives from Tyréns, one of Sweden’s largest design companies, and its Lithuanian branch have visited the Rail Baltica construction sites. The meeting with representatives of LTG Infra, the company implementing Rail Baltica in Lithuania, have discussed the ongoing and planned works. LTG Infra is currently focusing on securing design capacity and invites both Lithuanian and international design companies to work in Lithuania and contribute to the Rail Baltica project. According to Vytis Žalimas, CEO of LTG Infra, one of the biggest challenges for Rail Baltica now is to secure design resources for the planning of future high-speed railway sections.
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Originally published on 25 Mar
Lithuanian researchers from Kaunas University of Technology (KTU) and the Lithuanian Energy Institute (LEI) have developed a groundbreaking hydrogen production technology that transforms waste into valuable, clean hydrogen fuel. This new method not only boosts hydrogen extraction efficiency but also addresses the persistent issue of tar formation in the gasification process. By offering a more sustainable energy solution, the technology holds significant promise for reducing industry’s reliance on fossil fuels and fostering a cleaner energy future.
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Originally published on 24 Mar
Boldyn Networks (Boldyn) and Ascom have joined forces to enhance digitalisation at Oulu University Hospital (OYS) by boosting 300 Ascom Myco 4 devices for the use of hospital staff, enabled by Boldyn’s private 5G Standalone(SA) network. This is part of the Hola Oulu project where consortium members Pohde, Oulu University Hospital (OYS), University of Oulu, and WICOAR Technologies Oy are revolutionising patient care by implementing advanced, secure, high-capacity connectivity within the hospital environment.
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Originally published on 24 Mar
Prince William visited Sunly to examine how hybrid energy parks are strengthening energy security and reducing reliance on fossil fuels. The visit, part of his tour including meetings with British troops under NATO’s Operation Cabrit, comes weeks after the Baltic states permanently disconnected from the Russian power grid and integrated with the European system.
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Originally published on 21 Mar
INVL Baltic Farmland, a company that invests in agricultural land, announced its operating forecasts for this year along with planned dividends and decisions that are being proposed to the shareholders’ meeting. The company plans to earn a net profit of EUR 460,000 and have consolidated revenue of EUR 890,000 this year. This forecast assumes that during 2025 the value of land holdings will not change, no new agreements on the purchase or sale of land will be signed, and there will be no change in the impairment of trade receivables and no impact of trade receivables on the size of the administration fee.
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Originally published on 21 Mar
Last week, Estonia welcomed back some of the brightest minds in dual-use technology for an action-packed onsite experience at the NATO DIANA Estonian Accelerator. Over five days, the 7 teams tackled masterclasses, investment workshops, pitch sessions, and test centre visits, forging connections and shaping their solutions. Here’s a look back.
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Originally published on 19 Mar
The global sustainable initiative startup “Walk15,” founded in Lithuania, continues its rapid growth across Europe, reaching a valuation of €30 million. The company is now opening a Series A investment round, with initial investments coming from its existing shareholders, including the venture capital fund Coinvest Capital, led by Viktorija Trimbel, the angel syndicate NGL, led by Justinas Pašys, and other investors.
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Originally published on 17 Mar