One step closer to biomethane production in the port in Malmö
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
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The Baltic Startup Funding Report by Change Ventures and FIRSTPICK is a semi-annual publication of detailed data about funding rounds for startups in the Baltics, including companies with HQs elsewhere but with a dominant base in Estonia, Latvia, or Lithuania.
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Originally published on 5 Feb
Enable Banking and Qred announce a strategic partnership to revolutionize financing for entrepreneurs. By leveraging real-time financial data and seamless account-to-account payments, Qred enhances credit decisions and operational efficiency. This collaboration highlights the transformative power of open banking in supporting small businesses, enabling them to grow, invest, and expand with ease.
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Originally published on 31 Jan
Today, the Commission has registered ‘Aglonas maizes veistūklis’ from Latvia as Protected Geographical Indications (PGI). ‘Aglonas maizes veistūklis’ is a rye bread with pieces of dried pork fat and onions baked into it. The method used to produce the bread and the recipe have been preserved and have not changed since the end of the 19th century. It still has to be prepared by hand, starting with the preparation of the flour, the kneading of the rye dough, the shaping of ‘Aglonas maizes veistūklis’, the filling of the dough and the baking of the bread. The reputation of ‘Aglonas maizes veistūklis’ stems mainly from the tradition, passed down within families from generation to generation, of baking the bread in brick ovens.
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Originally published on 31 Jan
The European Investment Bank (EIB) signed an agreement to support Poland’s largest utility Polska Grupa Energetyczna (PGE) with a €400 mln loan towards the design and construction of Baltica 2, the European Union’s largest offshore wind farm to date. Baltica 2 will feature innovative technology for a 1.5 GW capacity and sit off the Polish coast in the Baltic Sea. Supported by major European funding, it is being developed by PGE and leading offshore wind company, Denmark’s Ørsted.
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Originally published on 30 Jan
The Commission will allocate almost €1.25 billion in grants from the Connecting Europe Facility (CEF) to 41 cross-border energy infrastructure projects, which have obtained the status of Projects of Common Interest and Projects of Mutual Interest (PCIs and PMIs) in 2024 under the Trans-European Networks for Energy (TEN-E) policy framework.
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Originally published on 30 Jan
Lithuanian company Ulsontech has attracted interest from businesses not only in Europe but also in Asia with its innovative ultrasound solutions. Successfully entering international markets, the company’s CEO, Dr. Vykintas Samaitis, highlights that this achievement is the result of consistent effort and the adoption of new digitization solutions supported by the European Digital Innovation Hub EDIH4LT and the Innovation Agency Lithuania.
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Originally published on 28 Jan
The coalition parties have agreed that either the state or Elering will support the construction of energy storage capacities. The Ministry of Climate historically believed energy storage would be built on market demand. The Ministry of Education and Research, Kristina Kallas stated, “If we purchase offshore wind energy on a large scale and develop these capabilities, we must also ensure that we have the infrastructure for long duration energy storage.” She emphasised that constructing an offshore wind facility without appropriate energy storage poses a significant risk of energy being exported.
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Originally published on 27 Jan
The Estonian Ministry of Economic Affairs and Communications has announced the launch of a €100 million Defence Fund, established to support the development of innovative defence and security capabilities to meet the growing global demand for new solutions. Managed by national fund manager SmartCap, the fund will provide direct investments to defence companies and funds investing in military and dual-use technologies.
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Originally published on 21 Jan
Doubts have been raised about Energiø Bornholm’s relevance and economy, but the project has never been more important. Besides being a crucial project in the European fight against climate change, the energy island has every opportunity to become a good business for Denmark.
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Originally published on 15 Jan
US healthcare products manufacturer Hollister Incorporated is expanding its Lithuanian operations. This month, the company has officially opened its financial services center, Hollister SSC Lithuania, complementing its manufacturing facility, Hollister Lietuva, located in the Kaunas Free Economic Zone. Building on this growth, the company has announced plans to establish a new product development (NPD) center at its Lithuanian facility later in the year.
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Originally published on 14 Jan