Posts Tagged ‘Lithuania’
Another satellite built by “Kongsberg NanoAvionics” has reached space – to monitor forest health and support the development of green credits
A “Kongsberg NanoAvionics” small satellite, “IHI-SAT2”, designed for global forest monitoring and the advancement of green credit initiatives, has successfully reached Earth’s orbit. The satellite was launched into space on 28 November from Vandenberg Space Force Base in California, as part of the SpaceX “Transporter-15” mission. Shortly after separating from the rocket’s second stage, the “NanoAvionics” mission control centre in Vilnius established a stable two-way communication link with “IHI-SAT2”, confirming its successful operation.
The satellite was manufactured on behalf of Japan’s “IHI Corporation” and “IHI Aerospace Co., Ltd.” and is part of the “NeXT FOREST” programme, undertaken by “IHI” in collaboration with “Sumitomo Forestry Company Limited”. Its onboard hyperspectral camera captures imagery across an exceptionally wide range of the electromagnetic spectrum, allowing precise identification of plant species, analysis of forest condition changes, and detection of stress or disease indicators. Such data provide invaluable insights for sustainable forestry practices and the development of environmental financial mechanisms.
It is particularly encouraging that “IHI-SAT2” was fully assembled and tested in Lithuania – at the “NanoAvionics” facility in Vilnius, from which the entire mission is also being coordinated. This marks the eleventh satellite launched by the company into space this year. Since commencing operations in 2014, “NanoAvionics” has already deployed more than fifty satellites into orbit, supporting climate monitoring, science, communications, and industrial projects worldwide.
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Originally published on 3 Dec
Read MoreUnplanned departure Vilnius’s airspace disruptions
Finnair has cancelled its evening flight from Helsinki to Vilnius until March. The decision, taken on Wednesday, came after two other airlines said they would move their evening flights to earlier in the day. The reason: repeated airspace restrictions over Vilnius Airport in recent months caused by weather balloons sent over the border with Belarus.
Smugglers have used high-altitude weather balloons have to carry cigarettes into Lithuania since at least 2021. Last year alone, some 1.4 million cigarettes were confiscated. But officials say the timing and the direction of the current wave suggest it is a deliberate effort by the Belarusian government to disrupt air traffic.
In October and November, the airspace over Vilnius airport was closed 14 times due to balloon sightings. Kaunas Airport, the country’s second busiest, has also been closed. Only about 5% of all travellers in and out of Vilnius during the period were affected by the closures, but the number of balloons reported has continued to rise, and the airport was closed twice in the past week because of them.
Belarus says the balloons are Lithuania’s problem. The airlines are doing what they can to make that the case.
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.
Association Chair Mantas Katinas says that Lithuania’s startups have already grown from a small niche to a sector of real economic significance. Last year alone, these companies contributed almost €0.5 billion in taxes to the state budget, and the value they create for Lithuania approaches €2 billion.
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Originally published on 28 Nov
Read MoreLatvia takes first place in Investment Promotion Agency index
Latvia has been ranked nr. 1 out of 32 countries in the Investment Promotion Agency index as outlined in “The Investment Promotion Playbook 2025″ report by Reinvantage, an independent consultancy firm, for the second year in a row. The second place is taken by Estonia, with Lithuania ranked number 5.
The report by Reinvantage has assessed 32 countries across Central, Eastern, and Southern Europe, the Baltics, the Balkans, the Eastern Mediterranean, and Central Asia. The report has been published for 8 years consecutively, and has grown from its initial 23-country cohort to the now-expanded 32 countries.
The methodology is made up of scores across five categories, each weighted according to impact:
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Originally published on 1 Dec
Read MoreBaltic companies honoured at Nasdaq ceremony in New York: Ignitis Group named the best investor relations company in Lithuania
On 24 November 2025, during the Nasdaq closing bell ceremony at Times Square in New York, six Baltic companies were recognised, including Ignitis Group, which was named the best investor relations company in Lithuania for the second year in a row.
The aim of this prestigious event is to highlight Baltic companies that, in the Nasdaq Baltic Awards 2025, were recognised for outstanding achievements in transparency, corporate governance and investor relations.
The ceremony featured Ignitis Group and Neo Finance from Lithuania, CleanR Grupa and Latvenergo from Latvia, and LHV Group and Tallink Grupp from Estonia. The laureates were selected based on publicly disclosed information, trading activity and assessments by market participants.
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Originally published on 25 Nov
Read MoreFor the first time, a cargo of natural gas ordered by a Ukrainian company has reached the Klaipėda LNG terminal
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
Read MoreBaltic synchronisation achieved global recognition by winning PMI’s Project of the Year award
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
Read MoreDouble feature Baltic film in New York and London
Move over Nordic film, here comes something even more unsettling
Read MoreRail Baltica Beyond profitability
The economic case for Rail Baltica can be found in examples of other major infrastructure projects that were initially deemed too big not to fail
Read MoreKilo Health Turns Kilo™ – a bigger vision and more investment in startups
Kilo Health, a healthtech creator and investor, is expanding beyond health as it transforms into Kilo – marking a new ambition to accelerate startup growth through increased investment and its internal business development ecosystem, Kiloverse.
Žygimantas Surintas, who joined the company a year and a half ago, remains the head of the Kilo group of companies. According to him, Kilo and Kiloverse will separate investment activities from day-to-day operations – a natural step that reflects the company’s growing maturity and long-term strategy for sustainable growth.
“Over the past twelve years, we have created numerous health and wellness solutions – from digital apps to physical products that help millions of consumers around the world live healthier, better quality lives. We are also developing products in other areas including beauty and personal development. Now our goal is not only to create ourselves, but also to invest more actively in startups, helping them to develop global businesses better and faster,” says the CEO of Kilo.
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Originally published on 10 Nov
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