Posts Tagged ‘Estonia’
Babcock and Frankenburg launch ambitious effort to deploy a next‑generation counter‑drone system
British aerospace and defence firm Babcock and Estonian defence company Frankenburg Technologies have signed a Memorandum of Understanding (MoU) to jointly explore the creation of a new and affordable air‑defence solution, prompted by the growing threat posed by one‑way attack drones.
As part of the MoU, Babcock will develop a cost-effective, containerised platform for launching Frankenburg’s new low-cost missiles, which it is manufacturing at pace, specifically to defend against one-way attack drones.
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Originally published on 15 Jan
Read MoreSmartCap invests in Taaleri Energia’s infrastructure fund
Ellex in Estonia advised SmartCap Green Fund on its investment into Taaleri SolarWind III, a renewable energy infrastructure fund managed by Taaleri Energia.
SmartCap committed €25 million to accelerate the development and operation of onshore wind, solar and battery energy storage assets across the Baltics, Nordics, Poland and select markets in Europe and the U.S.
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Originally published on 14 Jan
Read MoreEstonian Government approved a development plan to make the energy sector more reliable, affordable and cleaner
Today, the Government approved the National Development Plan of the Energy Sector until 2035 (ENMAK 2035), drafted by the Ministry of Climate. The plan sets the goals of ensuring energy security, increasing national competitiveness, and facilitating the transition to a clean energy economy.
Preparation for the plan began in 2021. The final document provides an overview of how Estonia’s energy sector reached its current state, the steps to be taken leading up to 2035, and a vision for 2050. It also establishes general and sub-objectives and planned activities for renewable energy, gas supply, oil shale energy, as well as heating and cooling.
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Originally published on 8 Jan
Read More578 applications, 115+ companies and €12.8 million raised – Tehnopol Startup Incubator 2025 wrap-up
The new year is already well underway and the next cohort of specialised accelerator programmes is about to kick off. Before 2026 fully gains momentum, it’s a good moment to look back: what did 2025 look like for Tehnopol Startup Incubator, and – most importantly – what kind of impact did it have on our startups and the wider ecosystem?
2025 was a fast-paced year by the numbers. We received 578 applications across our accelerator programmes, and 115+ companies joined our programmes during the year. A clear trend is that new cohorts are becoming more mature from day one: teams enter the programme with sharper focus, more realistic market validation and a clearer development roadmap.
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Originally published on 7 Jan
Read MoreIute Group Strives to Enter Ukraine with Acquisition of Banking License
Iute Group, a European digital-first banking group, is striving to enter the Ukrainian market by establishing a regulated bank with a strong focus on digital banking services for everyday financial needs. The market entry is to be based on an agreement with Ukraine’s state-owned Deposit Guarantee Fund following approval by the National Bank of Ukraine. Under the agreement, Iute Group is to acquire a banking license held by a bridge bank together with a selective transfer of low-risk assets and corresponding retail deposit liabilities with a total volume of approximately EUR 4 million from RWS Bank to Iute Group’s newly established bank entity in Ukraine.
The purchase will be financed from existing Group liquidity. Iute Group applies a strict investment discipline and expects the net loss of the Ukrainian banking operations in 2026 not to exceed EUR 3 million.
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Originally published on 6 Jan
Read MoreNearly 3.5 million passengers at Tallinn Airport in 2025
In 2025, 3,488,104 passengers travelled through Tallinn Airport. Passenger numbers at regional airports also increased, resulting in a record total of 3,581,620 air passengers using airports in Estonia.
“The past year proved to be one of the most successful in the history of AS Tallinn Airport and its subsidiaries. Although Estonia’s economic situation has been challenging in recent years, demand for travel has shown no signs of decline. This is reflected in Tallinn Airport’s passenger numbers, which were only 4,000 passengers, or just 0.1%, below the previous year. At the same time, passenger numbers at Tartu Airport grew rapidly, meaning that the total number of passengers at Estonian airports reached an all-time high,” said Riivo Tuvike, Chairman of the Management Board of AS Tallinn Airport.
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Originally published on 5 Jan
Read MoreEstonia to chair the Nordic-Baltic (NB8) cooperation format as of 1 January 2026
As of tomorrow, 1 January 2026, Estonia will assume the coordinating role as chair of the Nordic-Baltic (NB8) cooperation format, with the aim of strengthening regional cooperation, increasing the international visibility of NB8, and deepening the region’s strategic integration.
According to Minister of Foreign Affairs Margus Tsahkna, NB8 has developed into the most important platform for political coordination in the region. “NB8 must be firmly established as a cross-regional centre of political cooperation through which we pursue our shared objectives,” Tsahkna stressed. During the 2026 coordinating period, Estonia intends to use the NB8 format as its primary international political coordination tool at the level of leaders, ministers, senior officials and diplomats.
Another key objective is to strengthen the global image of NB8 as a group of highly like-minded countries with a strong and unified identity. “Together, the NB8 countries are significantly larger, more visible and more influential than when we act individually. We want to be seen as a unified and strong region that, despite the relatively small size of its countries, is one of the most important economic and political partners in the Euro-Atlantic space,” said the Foreign Minister. In 2026, Estonia plans to raise awareness of the nature of NB8 and to highlight the region’s role in the global economy and international politics.
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Originally published on 31 Dec
Read MoreEstonia Signs Contract with the First Manufacturer of the Future Defence Industry Park
The Estonian Centre for Defence Investments (ECDI) and the company Nitrotol OÜ have signed a contract for the production of military explosives and ammunition, including mines and charges, in the defence industry park to be established in Ermistu, Pärnu County.
Deputy Director General of ECDI Asko Kivinuk thanked the company for the good and smooth cooperation. “Nitrotol OÜ has already started production in Ämari, and the first deliveries to the Estonian Defence Forces will arrive from there soon. The experience gained in Ämari will certainly help ensure that the new and larger production unit is completed smoothly and as quickly as possible,” said Kivinuk. “At the same time, I would like to thank ECDI’s partner notary office for their utmost precision and thoroughness in preparing such complex contracts,” he added.
In the first phase, four companies will be able to establish their factories in the defence industry park being developed in Ermistu, Pärnu County: Nitrotol OÜ, Frankenburg Technologies OÜ, Infinitum Strike OÜ, and Thor Industries Ltd via its Estonia-registered subsidiary Odin Defence OÜ.
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Originally published on 30 Dec
Read MoreEstonia to Purchase at Least Six South Korean–Made Chunmoo Multiple Rocket Launchers
The Estonian Centre for Defence Investments (ECDI) and representatives of the South Korean defence industry company Hanwha Aerospace have signed a contract for the procurement of six Chunmoo multiple rocket launchers. The contract, worth nearly €290 million, covers the launcher systems, three types of missile systems (CGR-080, CTM-MR, CTM-290), as well as operational and training support. In addition, modifications to the platforms will be ordered to ensure they meet Estonian conditions and traffic regulations. Deliveries will begin in the second half of 2027, and the framework agreement allows for the future procurement of additional systems.
“Estonia began developing its deep-strike capability this April with the acquisition of the U.S. HIMARS systems. Since multiple rocket launchers are of invaluable importance from a military capability perspective, I am extremely pleased that, in addition to U.S. HIMARS, we will now also acquire South Korean Chunmoo systems, thereby significantly enhancing both Estonia’s and NATO’s overall deterrence and defence capability,” said Minister of Defence Hanno Pevkur.
As part of the framework agreement, Hanwha Aerospace will also make investments in Estonia’s defence industry in accordance with the volume and conditions set out in the contract. “As part of the agreement, the company will invest one-fifth of the total procurement contract value in Estonian industry. The initial investment should return amount value of €40~60 million to Estonian defence industry companies,” explained Katri Raudsepp, Acting Director General of the Estonian Centre for Defence Investments (ECDI).
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Originally published on 21 Dec
Read MoreEstonia joins Nordic AI Gigafactory project
Estonia is no stranger to frontier AI projects, already using the most modern tools in the education system and producing an impressive array of AI-first startups and scale-ups. Now, there’s more on this front, as Estonia has signed a cooperation agreement with Nokia to participate in a Nordic consortium developing sovereign AI infrastructure across the region, Justice and Digital Affairs Minister Liisa Pakosta announced today in Oulu, Finland.
The project currently includes Estonia, Finland, and Latvia, with ongoing negotiations to bring Sweden and Denmark on board. The initiative responds to the European Commission’s program supporting the development of European sovereign AI infrastructure—specifically, AI gigafactories—designed to reduce dependence on third-party computing resources.
For Estonia, the agreement means establishing an AI-ready data centre on its territory that would integrate with both existing Estonian and broader regional infrastructure. The facility would provide essential computing capacity to the public sector, research institutions, and private enterprises.
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Originally published on 19 Dec
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