LMT and Novaspace Partner for 5G/6G Hub in Latvia
During the international Industry Space Days 2026 event at the European Space Agency’s ESTEC facility in Noordwijk, the Netherlands, the Latvian Mobile Telephone (LMT) Group and the globally leading space consultancy Novaspace signed a cooperation agreement on the development of a concept for telecommunications innovation platform for Latvia to link the national connectivity sector with the international satellite industry. The initiative follows the successful ESA 5G/6G Non-Terrestrial Network Hub model and will explore Latvia’s potential role within this network.
Signing the agreement marks a pivotal step toward creating a hub for developing an internationally competitive telecommunications sector in Latvia. The hub will strategically bring LMT Group into the space industry and impact the emergence of a wider Latvia’s space innovation ecosystem in next-generation satellite technologies, products, and services tailored to commercial applications, resilient critical infrastructure, security, digitalization and green transition. Essentially, the hub will attract national and international cooperation, funding and talent.
The next generation of mobile communications is closely linked to the rapid growth of the space economy globally. The space infrastructure is already gradually enhancing terrestrial networks, and the 6G era of telecommunications will seamlessly link terrestrial and non-terrestrial networks. The rationale for such development is efficient and resilient connectivity, especially essential in scenarios involving severe weather, power outages or physical infrastructure disruptions.
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Originally published on 22 Sep
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In 2024, CMP entered into a partnership with Green2x focused on the design, establishment, and operation of what is expected to become one of the world’s largest biofuel plants in Norra Hamnen, Malmö. The establishment will significantly contribute to the transition to fossil-free energy while creating job opportunities. The ambition of the collaboration is to ensure a sustainable energy supply, foster local growth, and support decarbonization.
Through Green2x’s technology, energy is extracted from straw left after harvest, enabling biogas production on an entirely new scale. Straw contains a high energy content, and the technology allows for extraction with over 95 percent efficiency.
Green2x has now secured investments of more than DKK 100 million from, among others, Norway’s Equinor and the Danish state-owned investment fund Eifo. These investments make it possible to begin construction of a pilot plant for biogas production on the island of Møn in Denmark. The pilot plant will further develop Green2x’s technology and serve as the basis for designing the planned facilities in Malmö and Vordingborg. This plant is therefore the first step toward large-scale production of unsubsidized biogas in the port in Malmö.
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Originally published on 25 Nov
On November 20, the fourth batch of Venture Catalysts, one of Latvia’s leading training program for science-driven innovation, officially concluded with 30 graduates, marking another important milestone in the country’s efforts to accelerate research commercialization and support early-stage deep tech ventures.
Over the past five weeks, researchers, doctoral students, innovators and aspiring founders engaged in an intensive curriculum designed to understand the basics of research commercialisation. Through interactive sessions, practical tasks, and expert mentoring, participants strengthened their skills in commercialization, team building, intellectual property, investment readiness and innovation strategy.
Developed and delivered by UniLab in collaboration with RTU Riga Business School, RISEBA, and the Investment and Development Agency of Latvia (LIAA), Venture Catalysts Batch 4 provided a comprehensive pathway for innovators working at the intersection of research, technology, and entrepreneurship.
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Originally published on 25 Nov
The Estonian Private Equity and Venture Capital Association (EstVCA) members have elected a new 11-member board to steer the association for the next two years, until October 2027. Hendrik Reimand, Founding Partner at the venture capital fund 2C Ventures, has been elected as the new Chairman of the Board.
Madis Lehtmets, Managing Director of EstVCA, noted that the organization was fortunate to have such a strong and diverse pool of candidates in this year’s board elections, reflecting the willingness of both established and next-generation industry players to contribute and push the industry ahead as the Estonian private capital ecosystem is entering a pivotal period. He added: “With this new board, we have the experience, drive, and diverse perspectives to take bold steps, both locally and internationally, to strengthen our industry’s impact and reach. I look forward to working with them to support our members and build new partnerships across borders.”
The newly elected 11-member board reflects a broad blend of VC and PE professionals, key LPs, and legal-sector leaders: Dag Ainsoo (Startup Wise Guys), Ene Õunmaa (Swedbank Investment Funds), Hendrik Reimand (2C Ventures), Kärt Siilats (Superangel), Kristel Raidla-Talur (COBALT Legal), Maarja Pärs (Livonia Partners), Mari Kuhi (SmartCap), Margus Uudam (Karma Ventures), Mart Maasik (Nordic Science Investments), Rando Rannus (Siena Secondary Fund), and Sigrid Lii Treialt (LHV Asset Management).
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Originally published on 21 Nov
According to a statement posted on LinkedIn by the company’s co-founder Emīls Vāvere, the artificial intelligence startup Convershake has secured an investment of €150,000 from the Outlast Fund.
In the long-term, it is Convershake’s ambition to lead the way in the development of fully autonomous AI agents in the field of customer service. The company’s vision entails a gradual transition from human-supported AI solutions to an environment where AI agents, guided by Convershake’s software, manage all customer calls independently.
Outlast Fund partner Marija Ručevska notes that Convershake is changing the way in which customer service teams operate. Through its platform, which connects every information source and provides the correct answer instantly and in any language, Convershake helps call centres and their employees to save hours of time every week. According to Ručevska, there is a growing belief within the industry that AI assistants hold the key to the future of customer experience, a transformation lead by the team at Convershake.
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Originally published on 20 Nov
As Latvia moves toward the European Union’s climate-neutrality goals, it is seeking new ways to reduce the construction sector’s carbon footprint and strengthen the use of local resources. One of the most significant yet underused opportunities is agro-construction – a sustainable building approach based on agricultural materials. It not only helps mitigate climate change but also creates new economic and social development opportunities for Latvia’s regions.
This topic has been brought to the forefront by the “Agro Building Carbon (ABC)” project, implemented by the Vidzeme Planning Region in cooperation with the Vidzeme University of Applied Sciences’ New Building School (JBS). The project aims to explore and strengthen the use of agricultural-based building materials, their carbon-sequestration potential, and their role in Latvia’s construction policy.
Conversations that set the direction
On September 25 of this year, project partners and industry experts gathered in Riga, at Paraugtipogrāfija, for the first joint discussion to share experiences and build collaboration networks. The conversations highlighted that hemp, straw, and other crops can significantly contribute to both construction and agriculture, while also helping to meet carbon reduction targets. It was emphasized that Latvia has a long history of cultivating these crops, yet the sector lacks sufficient processing capacity and clear regulations.
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Originally published on 19 Nov
Capidea is pleased to announce the acquisition of the majority stake in HASLE Refractories A/S, a Danish manufacturer of advanced refractory solutions for high-temperature industries including cement, steel, and waste-to-energy. Capidea has followed the company for a number of years and is now ready to embark on the next chapter together with Karen and Michael Bladt and the organization.
Building on HASLE’s strong foundation and recent recognition as a Børsen Gazelle 2025 company, an award recognizing Denmark’s fastest-growing businesses, the partnership will focus on developing the product portfolio and strengthening the organization to support continued international growth.
Carsten Riisberg Lund will continue as Chair of the Board, while Martin Jørgensen and former Capidea Partner Jens Thøger Hansen join Karen Bladt on the Board of Directors.
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Originally published on 19 Nov
On Monday, a liquefied natural gas (LNG) cargo from the United Stats of America ordered by D.TRADING International SA, a subsidiary of DTEK Group, the largest private Ukrainian energy company, reached the Klaipėda LNG terminal operated by the international terminal operator KN Energies. Approximately 160 thousand cubic metres of U.S. LNG will be transferred into the tanks of the floating storage and regasification unit (FSRU) Independence from the LNG carrier GasLog Houston that arrived in Klaipėda port. A share of the LNG cargo delivered to Klaipėda will, after regasification, reach Ukraine via pipelines and international interconnector links.
“After the brutal russian attacks on Ukraine’s energy infrastructure, Lithuania was quick to act – a cargo of LNG is already on its way to Ukraine. The Klaipėda LNG terminal is one of the busiest and most utilized in Europe, yet it also provides an opportunity to assist Ukraine – through it, we can help ensure gas supply and energy security for our partners. This is a concrete example of our solidarity and transatlantic cooperation. Together, we are seeking ways to ensure a reliable gas supply to Ukraine during the upcoming winter by making full use of Lithuania’s existing infrastructure,” said Minister of Energy Žygimantas Vaičiūnas.
The Ambassador of Ukraine to Lithuania Olha Nikitchenko noted: “Ukraine is entering another winter under relentless Russian attacks on our critical energy infrastructure. Day after day, Russia strikes purely civilian facilities that provide Ukrainians with heat, light, and the essential services people need simply to live. In such conditions, every reliable route for energy supply becomes a matter of national resilience. Access to the Klaipėda LNG terminal gives Ukraine something extremely important: confidence that even when our facilities are hit, we still have alternative ways to keep our system running. We are deeply grateful to Lithuania, one of the leaders in supporting Ukraine’s energy sector, for taking yet another meaningful step. It strengthens Ukraine, it strengthens our region, and it shows that in the face of terror, transatlantic unity sends a clear message: Russia may try to turn winter into a weapon, but together we will not allow it”.
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Originally published on 18 Nov
Detection Technology, a global leader in X‑ray detector solutions, has been honored with the 2025 GE HealthCare Supplier of the Year Award. This prestigious recognition is the highest distinction awarded by GE HealthCare, celebrating a supplier that consistently delivers exceptional performance and value across multiple dimensions.
The GE HealthCare Supplier of the Year Award recognizes excellence in innovation, quality, service levels, reliability, agility, sustainability, cost competitiveness, and strategic collaboration. Among several thousand suppliers worldwide, Detection Technology stood out for its commitment to excellence, partnership, and shared vision of advancing healthcare through cutting-edge technology and dependable performance.
“I’m truly honored that Detection Technology has been named GE HealthCare’s Supplier of the Year,” said Hannu Martola, President and CEO of Detection Technology. “A big thank you to our team for their hard work and commitment. This recognition shows our strong focus on innovation, reliability, and customer service. It also highlights the long strategic partnership we’ve built with GE HealthCare as we keep working together to improve medical imaging and patient care.”
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Originally published on 17 Nov
The Latvian Association of Artificial Intelligence (MILA) is pleased to announce that Latvenergo JSC, one of the leading energy companies in the Baltics, has joined its circle of members, creating and developing innovative solutions in energy production, transmission and trade.
The accession of AS Latvenergo to MILA confirms the growing interest of the energy sector in the use of artificial intelligence solutions. The company is already actively using data analytics, automation and forecasting models that help improve energy efficiency, optimize production capacities and ensure stable system operation. Artificial intelligence (AI) enables even more accurate forecasting of electricity consumption, market dynamics and support real-time decision-making — aspects that are becoming critical in today’s energy industry.
Simultaneously with the admission of AS “Latvenergo” to the MILA board, Ģirts Vikmanis adds to the membership of the MILA board, JSC “Latvenergo” Director of IT Development and Artificial Intelligence. Girt has extensive experience in digital transformation and technology development, and the IT development and artificial intelligence function under his leadership plays a key role in the implementation of innovative energy solutions.
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Originally published on 17 Nov
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