Posts Tagged ‘Latvia’
The Baltic Pavilion at EXPO 2025 Osaka: Recognised Among the Best
The Baltic Pavilion at EXPO 2025 Osaka has already welcomed around 800,000 visitors — a strong sign of its growing popularity. Its success has also been confirmed on the international stage: at the TEDA Awards, organised by the Experience Design Association, the pavilion won 2nd place in the Visitor’s Choice category and 5th place for Best Mascot.
The TEDA “Expolympics” competition highlights the most creative, innovative and impactful experiential design solutions at EXPO. This year, more than 160 countries and organisations are taking part.
“Visitor interest in the Baltic Pavilion has been strong from the very first days of the Expo, and we are delighted that the way we present Lithuania and the Baltic region has also been recognised by the international jury. Our aim was not only to capture attention, but also to build lasting connections — combining modernity and innovation with elements that reveal our identity and uniqueness. Standing out among so many participating countries is no easy task, and we are proud that Lithuania has succeeded,”
– Lina Antanavičienė, Commissioner General of the Lithuanian Pavilion at EXPO 2025 and Ambassador
Read full announcement (external link)
Originally published on 24 Sep
Read MoreFrom Stockholm to Riga, Outlast Fund launches €21M fund to back founders in it for the long game
Outlast Fund, a Baltic-Nordic VC fund, has closed its first fund at 21M EUR to invest in pre-seed and seed-stage startups from the region. The fund is based in Riga and Stockholm, and aims to be the first cheque in backing founders building solutions that are built to last, with initial pre-seed tickets of up to 250,000 EUR and 1.5M EUR seed rounds.
The fund goes against the grain in the investment environment, eschewing typical VC advice to prioritize quick exits. Rather, they look to scour the edges to uncover the most promising founders in the Baltics and Nordics, and are prepared to invest in them at the earliest stages to help them build enduring companies.
The fund is particularly keen to keep an eye out for serial entrepreneurs with a proven track record, ready to back them as early as the idea stage. Outlast Fund also invests in first-time founders who possess unique and specific insights within their chosen verticals. However, a trait that they look for in all cases is an obsessive drive to solve their customers’ most pressing problems. Regardless of whether the founders are better suited for building lean teams with the help of angels, microfunds, and syndicates, or if they are eyeing large rounds from the get-go, Outlast Fund is ready to support from the first cheque, rather than jumping in at the middle.
Read full announcement (external link)
Originally published on 18 Sep
Read MoreRail Baltica marks ceremonial signing of historic electrification contract
At the beginning of September, Riga hosted the European Hydrogen Valleys Investment Forum (EHVIF TechTour 2025), reaffirming hydrogen as one of the central themes for Europe’s future energy landscape. The event gathered more than 220 participants – including start-ups, investors, corporate representatives, experts, and policymakers.
In total, 40 start-ups and hydrogen valley projects presented their innovative ideas, while more than 40 investors and industry leaders shared their perspectives on developing and financing clean energy solutions. The event concluded with eight companies being recognized by the expert jury as Top Presenters.
Special attention in the programme was devoted to discussions on hydrogen production, storage, distribution, and use in mobility and industry, as well as on governance and cooperation models. One of the key highlights was the pitching session, where the H2Value project was presented – the first cross-border initiative to build a green hydrogen value chain between Latvia and Estonia. The project’s goal is to gradually establish the entire chain, from production and storage to distribution and real-life application in transport.
Read full announcement (external link)
Originally published on 15 Sep
Read MoreH2Value project plays a significant role in European hydrogen forum discussions
At the beginning of September, Riga hosted the European Hydrogen Valleys Investment Forum (EHVIF TechTour 2025), reaffirming hydrogen as one of the central themes for Europe’s future energy landscape. The event gathered more than 220 participants – including start-ups, investors, corporate representatives, experts, and policymakers.
In total, 40 start-ups and hydrogen valley projects presented their innovative ideas, while more than 40 investors and industry leaders shared their perspectives on developing and financing clean energy solutions. The event concluded with eight companies being recognized by the expert jury as Top Presenters.
Special attention in the programme was devoted to discussions on hydrogen production, storage, distribution, and use in mobility and industry, as well as on governance and cooperation models. One of the key highlights was the pitching session, where the H2Value project was presented – the first cross-border initiative to build a green hydrogen value chain between Latvia and Estonia. The project’s goal is to gradually establish the entire chain, from production and storage to distribution and real-life application in transport.
Read full announcement (external link)
Originally published on 12 Sep
Read MoreThe Government approved the proposals from the Ministry of Energy for a longer deadline for the second offshore wind farm tender – until 7 October
The Government approved the proposal of the Ministry of Energy to temporarily suspend the current tender for the development and operation of the offshore wind farm. According to the decision, the tendering procedures will be resumed on 6 October 2025, and the submission of tenders will continue until 7 October 2025, inclusive.
The temporary suspension of the tender is necessary to ensure successful results. The decision was made taking into account the fact that the tender took place during the summer period, when market participants are objectively less active. Political processes taking place during the summer also influenced investors’ decisions to participate in the tender and invest in Lithuania. The Ministry of Energy received indications from potential participants that the current deadline for submitting documents was too short to properly prepare for participation in the tender, including detailed financial, technical, and legal assessments.
These changes will create more favourable conditions for greater involvement of market participants. The aim is to ensure that offshore wind farm projects are implemented at competitive prices by creating attractive tender conditions for investors and ensuring maximum competition. The decision creates preconditions for the implementation of the goal to develop two offshore wind farms with a total capacity of 1.4 GW, specified in the National Energy Independence Strategy.
Read full announcement (external link)
Originally published on 5 Sep
Read MoreStena Line will acquire port operations in Liepaja, Latvia
Stena Line continues its commitment to trade growth and resilience in the Baltic Sea. The ferry company will acquire all shares in the port operator Terrabalt in Liepaja, Latvia.
By acquiring the Latvian company Terrabalt, Stena Line takes over the operation of the RoRo, bulk and general cargo terminal in Liepaja, Latvia’s third-largest port. The Liepaja port is managed within the framework of the Liepāja Special Economic Zone (SEZ), a free trade zone established in 1997 that includes the port, industrial area, and airport. Stena Line currently operates the Liepaja–Travemünde route with two vessels.
“Our investment in Liepaja means that we continue to be a long-term partner to Latvia and contribute to the further development of the country’s competitiveness and growth. We believe in a prosperous future for the Baltic Sea region, where investments in infrastructure and increased cooperation between the countries are key to strengthening trade and resilience throughout the region,” says Niclas Mårtensson, CEO of Stena Line.
Read full announcement (external link)
Originally published on 9 Sep
Read MoreTrading on the Baltic and Finnish gas markets to move to the European Energy Exchange platform
Starting from 9 September 2025, trading on the Baltic and Finnish gas markets will shift from the GET Baltic platform to the European Energy Exchange (EEX).
The change will enable Estonian market participants to strengthen their connection with the Baltic and Finnish markets and gain access to European markets, including the possibility to trade with Contract for Difference (CfD) between these markets. For consumers, this means that gas prices in Estonia will follow European price trends more closely. With the help of CfD, gas sellers will be able to better hedge their risks, which should reduce sales margins.
“As a result of successful cooperation between the gas exchanges EEX and GET Baltic, as well as between Elering and other Baltic/Finnish transmission system operators, we will continue offering implicit capacity allocation, which ensures greater liquidity and better price convergence between the Finnish-Baltic gas market areas,” said Airi Noor, Head of Market Development at Elering.
Read full announcement (external link)
Originally published on 8 Sep
Read MoreLIAA digitization support program: 5.4 million euros reserved, but funding still available
Since July, when the Latvian Investment and Development Agency (LIAA) began implementing the second round of the digitalization support program, the total funding of which is 18.5 million euros, 5.4 million euros have been reserved and entrepreneurs will be able to apply for the program until the support funds are available.
“Digitalization and the implementation of artificial intelligence solutions are one of the ways to increase the competitiveness of the Latvian economy, therefore it is a special pleasure that the majority, or 4.28 million euros, of the currently reserved funds in this program are intended specifically for projects in the field of artificial intelligence. We will most likely accept applications in this program at least until the end of this year,” emphasizes LIAA Director Ieva Jāgere.
A total of 285 applications have been received in the program so far, including 66 for the implementation of artificial intelligence solutions.
Read full announcement (external link)
Originally published on 5 Sep
Read MoreLatvian drones in the spotlight at the DSEI Defence and Security Exhibition
This year, at one of the world’s largest and most significant defence and security industry exhibitions, DSEI, Latvia will be represented with its largest-ever delegation of participants, with drone manufacturers especially to the fore. The Latvian business delegation will showcase aerial, ground, surface, and underwater drones, as well as anti-drone systems, while the Latvian company VicTec will stage water drone demonstration shows on the River Thames during the exhibition.
Also on display at the Latvian delegation’s stand will be a range of products essential to the defence and security sector, including tactical clothing, optical and training equipment, chemical, logistics and pyrotechnic solutions, and metalworking products.
Read full announcement (external link)
Originally published on 5 Sep
Read MoreairBaltic to launch five direct scheduled flights weekly between Oulu and Riga
The Latvian airline airBaltic will begin direct scheduled flights between Riga and Oulu – the European Capital of Culture 2026 – in March 2026. The return flights will operate five days a week (Mondays, Tuesdays, Thursdays, Fridays and Saturdays) starting from 29 March until the end of October 2026.
Yrjötapio Kivisaari, CEO of Oulun Matkailu Oy, welcomes the new connection.
– We have been discussing the opening of this route in different settings for a long time. Now we finally have good news! airBaltic’s new connection strengthens the international accessibility of Oulu and the whole of Northern Finland at exactly the right time, bringing visitors to enjoy the cultural year’s offerings. Our clear goal is to establish the connection also for the coming years, Kivisaari says.
Read full announcement (external link)
Originally published on 2 Sep
Read More