Posts Tagged ‘Invest Lithuania’
Icelandair to open technical services centre in Vilnius
Iceland’s flag carrier Icelandair is establishing a technical services centre in Vilnius. Opening in May 2026, the new division will employ 15 specialists in its first year across roles including CAMO engineers, planning engineers, technical records specialists, and maintenance coordinators.
As Icelandair’s first dedicated technical aviation operation in the region, the Lithuanian team will take responsibility for the airline’s third-party technical services. The expansion builds on the carrier’s existing presence in the Baltics through Icelandair Business Services, its long-standing subsidiary in Tallinn, which has provided accounting, ticketing, and back-office services for Icelandair since 2002.
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Originally published on 23 Apr
Read MoreA new phase in Pentasweet’s €65 million investment – foundations laid for Europe’s first sweet protein production facility
One of the largest biotechnology investments in Lithuania in recent years is gaining momentum – the construction of Pentasweet’s €65 million brazzein sweet protein factory. This major national investment project has entered a new stage: a symbolic capsule has been placed into the foundations of the future factory at the Vilnius City Innovation Industrial Park. The factory is expected to begin operations in the first half of 2027.
“Lithuania is consistently strengthening its high value-added economy and is capable not only of creating innovation but also of turning it into real projects. The Pentasweet factory is the first brazzein production center of its kind in Europe, demonstrating that Lithuania can be among global leaders in life sciences. This is a meaningful investment not only in the economy but also in people’s health. Solutions that enable reduced sugar consumption have great potential to transform the food industry and everyday habits”: Inga Ruginienė, Prime Minister
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Originally published on 22 Apr
Read MoreAstrolight’s Lithuanian-built laser communications technology reaches space for the first time
Lithuanian space and defence technology company Astrolight has launched its ATLAS-1 laser communication devices into orbit, in what the company says is the first Lithuanian laser communications system to reach space.
The devices were launched on 30 March 2026 aboard a Falcon 9 rocket during SpaceX’s Transporter-16 mission in California. According to Astrolight, the ATLAS-1 units will be used in three separate customer missions led by a French deep-tech company, the National and Kapodistrian University of Athens, and the Aristotle University of Thessaloniki.
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Originally published on 7 Apr
Read MorePAYSTRAX to create up to 150 new fintech jobs in Lithuania as it scales operations across Vilnius and Klaipėda
PAYSTRAX, an international payment acquiring company headquartered in Vilnius, is accelerating its growth in Lithuania. The company plans to hire up to 75 new specialists in 2026 and bring on up to 150 new employees over the next three years. Founded in Lithuania by two Icelandic entrepreneurs in 2018, PAYSTRAX has grown from a startup to an established payments provider with more than 150 employees across six European offices.
The expansion will span both of PAYSTRAX’s Lithuanian locations – in Vilnius and Klaipėda – and will focus on strengthening the company’s IT, finance, marketing, account management, operations, and onboarding capabilities. In Klaipėda, PAYSTRAX has already moved into larger premises, and in Vilnius it added a second floor at its office to accommodate the growing team.
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Originally published on 9 Mar
Read MoreMarine Technology to invest €15M in advanced manufacturing expansion in Klaipėda
Marine Technology, part of the Western Shipyard Group and a specialist in large-scale cable-handling equipment for the global energy and marine sectors, is investing €15 million to expand its manufacturing operations at Klaipėda Seaport. The expansion will add advanced robotic welding capabilities and modernized production facilities, enabling the company to scale up output of modular and composite equipment for offshore and onshore renewable energy projects.
As part of the Western Shipyard Group, Marine Technology operates within a well-established maritime engineering ecosystem. The group itself is part of BLRT Group, a Baltic industrial holding with more than a century of heritage, over 25 subsidiaries, and 3.500 employees across the region.
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Originally published on 3 Mar
Read MoreGlobal payments leader Checkout.com opens technology centre in Vilnius
Checkout.com, a leading global digital payments provider, has announced the establishment of a technology centre in Vilnius. The expansion follows the acquisition of Blue EMI, a Lithuanian electronic money institution, and will see Checkout.com build capabilities in compliance and technology, to serve its operations.
Since its establishment in 2012, Checkout.com has evolved from a fast-growing fintech into a payments infrastructure provider serving some of the world’s largest enterprises, with an expanding geographic presence and global operations. The company enables businesses to accept, process, and optimise digital payments worldwide, with services spanning online card acquiring, multi-currency processing, issuing, fraud detection, and payment orchestration.
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Originally published on 27 Jan
Read MoreAI startups could become the new engine of Lithuania’s economic growth
Lithuania could become one of Europe’s strongest tech centres within just five years, according to the latest study by the association Unicorns Lithuania. The analysis shows that by 2030, the number of startups in the country could triple, the number of specialists employed could double, and the state budget could receive an additional €5 billion in tax revenue.
However, according to the association, such a breakthrough is only possible if the country actively fosters the creation of artificial intelligence (AI) startups. The study estimates that this would require €270 million in state investment by 2030.
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Originally published on 22 Jan
Read MoreBGS renews partnership with airBaltic
Baltic Ground Services (BGS) has extended its contract with the Latvian airline airBaltic for more than a year. Under the renewed agreement, BGS will supply fuel to airBaltic aircraft at two airports: Palanga and Riga.
Effective November 1, 2025, the agreement confirms that BGS will remain responsible for fueling airBaltic aircraft at Palanga (PLQ) and Riga (RIX) airports until the end of 2026. In Riga, BGS will provide fueling services for a defined part of airBaltic’s operations, in accordance with the airline’s procurement results.
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Originally published on 8 Jan
Read MoreSwiss privacy technology company Proton to expand its R&D hub in Vilnius
Proton, a Swiss privacy-focused technology company, is expanding its software engineering operations in Lithuania as part of its broader global development strategy. The Vilnius office, established in 2019, currently employs around 20 specialists and acts as a regional R&D hub integrated into Proton’s global product teams.
Proton was founded in 2014 by a team of scientists who met at CERN. Guided by the belief that privacy is a fundamental human right, the company has grown into a global provider of secure, open-source services with more than 100 million accounts across 180+ countries. Its products include Proton Mail, Proton VPN, Proton Drive, Proton Calendar, Proton Pass, Proton Authenticator, and Proton Wallet. The company’s users range from privacy-conscious individuals to journalists, activists, NGOs in high-risk environments and privacy-first businesses.
Proton selected Vilnius for expansion due to its high-quality engineering talent, strong university programmes in computer science and cybersecurity, and a mature technology ecosystem. According to Beatriz Dominguez, VP People at Proton, Lithuania also offers favourable conditions for privacy-first innovation, supported by government incentives and strong connectivity to European data infrastructure.
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Originally published on 16 Dec
Read MoreDanish greentech company Watts opens software competence center in Vilnius
Watts, a Danish greentech company specialising in smart home energy solutions, has established a new software competence center in Vilnius. Over the next three years, the company plans to hire up to 100 engineers and technology specialists to accelerate development of its smart home energy platform.
Founded in 2016 in Køge, Denmark, Watts develops integrated renewable-energy solutions that help households track their energy consumption and make informed, data-drive decisions to reduce their environmental impact as well as manage costs more efficiently.
Today, more than 700,000 Danish households use Watts’ energy app (WattsOn), smart devices, and its intelligent Homegrid™ system to monitor consumption, understand usage patterns, and optimize their daily energy choices.
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Originally published on 8 Dec
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