Posts Tagged ‘Lithuania’
From Tallinn to Warsaw: Rail Baltica’s progress in Poland strengthens high-speed connectivity across Europe
In the Rail Baltica project, envisioned as a seamless corridor stretching from Warsaw to Tallinn, Poland plays a crucial role as a strategic partner, serving as the gateway connecting Lithuania, Latvia, and Estonia with the broader European rail network. While work on Rail Baltica has been progressing in all three Baltic countries, with 43% of the mainline expected to be construction-ready and actively under development by the end of this year, the Polish section has also experienced continuous development for several years.
Rail Baltica team recently conducted a visit to Poland to assess modernization efforts and observe the progress of the railway line that will connect Poland to the Lithuanian border.
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Originally published on 24 Feb
Read MoreArenijus Jackus new chair of Rail Baltica supervisory board
Arenijus Jackus has been appointed as the new chair of the supervisory board of RB Rail AS.
Arenijus Jackus brings a wealth of expertise to his new role as chair. Holding a master’s degree in transport engineering economics and management from Vilnius Gediminas Technical University, he has been deeply involved with the Rail Baltica project since its inception. Currently serving as the Chief Rail Baltica Lietuva officer at LTG, Arenijus has dedicated over 14 years to leadership roles within the public sector.
His extensive experience spans strategic planning and finance, EU-investment administration, project implementation, international relations and EU affairs, gained during his tenure at the ministry of transport and communications, which began in 1997.
Beyond his government roles, Arenijus has held prominent governance positions, including chair of the management board at Kaunas Airport, member of the supervisory board of LTG Infra and board positions with Klaipėda State Seaport Authority, Oro Navigacija and Rail Baltica.
His appointment marks the continuation of the rotational leadership structure that ensures equitable representation among Estonia, Latvia and Lithuania, the three member states of the Rail Baltica joint venture.
Connect with Arenijus on LinkedIn
Read MoreInvalda INVL Group raises the largest PE fund in the Baltics exceeding target at first close reaching EUR 305 million
Invalda INVL Group today announces that it has successfully completed a first closing of its second-generation private equity fund (“INVL Private Equity Fund II”), reaching EUR 305 million and exceeding its target of EUR 250 million. The INVL Private Equity Fund II has received strong backing from both existing and new investors, forming an exceptional investor base. This includes some of the most successful entrepreneurs from across the Baltics, family offices and institutional investors such as the European Investment Fund, pensions funds managed by Luminor asset management companies, SB Asset Management and IPAS INVL Asset Management in Latvia, as well as life insurance company UAB SB Draudimas. Fundraising will continue to reach a hard cap of EUR 400 million.
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Originally published on 17 Feb
Read MoreInterest to get funding for EdTech and GameTech startups exceeds expectations
The funding call from Innovation Agency Lithuania, aimed at supporting the development of innovative products and prototypes in the EdTech and GameTech sectors, closed on February 6 with an overwhelming response. A total of 184 applications were submitted—125 from EdTech startups and 59 from GameTech. However, only the top 8 projects in each category will receive funding.
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Originally published on 18 Feb
Read MoreLithuania: A Key Player in Global Enterpreneurship Index
Lithuania has emerged as one of the top countries for business, securing an impressive 2nd place in the Global Entrepreneurship Index, according to the latest Global Entrepreneurship Monitor (GEM) 2024/2025 data. This achievement positions Lithuania as a global leader in entrepreneurship, highlighting its dynamic and innovative business environment.
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Originally published on 18 Feb
Read MoreRail Baltica announces procurement plan for 2025
To keep potential suppliers and partners informed about procurement priorities for 2025, the Rail Baltica global project is providing a comprehensive overview of ongoing and upcoming procurement activities. These procurements focus on essential services that drive the advancement of the Rail Baltica project, covering key areas such as superstructure construction, environmental assessments, and design work for specific infrastructure elements and facilities.
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Originally published on 10 Feb
Read MoreBaltic states switch to European power grid, ending Russia ties
The Baltic states of Estonia, Latvia and Lithuania completed a switch from Russia’s electricity grid to the EU’s system on Sunday, severing Soviet-era ties amid heightened security after the suspected sabotage of several subsea cables and pipelines.
Ursula von der Leyen, the president of the European Commission, hailed the move, years in the planning, as marking a new era of freedom for the region, in a speech at a ceremony in Vilnius alongside the leaders of the three countries and the Polish president.
Debated for many years, the complex switch away from the grid of their former Soviet imperial overlord gained momentum following Moscow’s annexation of Crimea in 2014 and its invasion of Ukraine in 2022.
It is designed to integrate the three Baltic states more closely with the EU and to boost the region’s energy security.
Source: Reuters
Read MoreBaltic Startup Funding Report—H2 2024 update
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
Read MoreUltrasound Technology Puts Lithuania on the Global Map: “We Started with the Idea of Applying It to Industry”
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
Read MoreHollister Incorporated boosts Lithuanian presence with 100 new hires
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
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