Posts Tagged ‘Lithuania’
A 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 MoreTemporary suspension of the Environmental Impact Assessment (EIA) programme for the planned CO₂ transshipment terminal in Klaipėda
On 8 April, the Environmental Impact Assessment (EIA) programme for the planned carbon dioxide (CO₂) transshipment terminal at the KN Energies site in Klaipėda, published by the Environmental Protection Agency, was temporarily suspended. The decision to suspend and review the EIA programme was taken by KN Energies itself.
The company intends to re-evaluate the proposed solutions for the terminal’s planned economic activity and, once this is completed, to resume the review of the EIA programme. It is expected that this will ensure a more comprehensive EIA analysis. Information about the revised EIA programme will be provided in accordance with the procedures laid down by legislation.
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Originally published on 17 Apr
Read MoreOutcraft AI raises €2 million to bring autonomous AI agents into sales and revenue execution
Outcraft AI, an agentic AI platform building autonomous revenue agents that execute real-time customer engagement across voice, SMS, email and WhatsApp, has raised €2 million in pre-seed funding from Practica Capital.
Outcraft AI is built around a simple but increasingly urgent reality: companies lose revenue every day not because of a lack of demand, but because sales follow-ups are not fast enough, consistent enough, or through the right channel.
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Originally published on 17 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 MoreWork has begun on the Rail Baltica Kaunas Node section in Lithuania
The Rail Baltica Design Division of LTG Infra, the infrastructure company of the LTG Group, has officially begun design work on the Kaunas Node section. This is one of the most complex sections of the Poland–Latvia corridor due to its surrounding urbanized and natural areas.
Last year, LTG Infra took the initiative to establish a centre of excellence for high-speed rail design, which will complement and strengthen market capabilities. In the long term, this division — having accumulated experience in the design of high-speed railways and modern infrastructure – will be able to offer its expertise beyond Lithuania, as well as contribute to the further expansion of the European standard gauge network.
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Originally published on 7 Apr
Read MoreEBU Executive Board expresses its serious concern over proposed changes to Lithuania’s public service media framework
Members of the Executive Board of the European Broadcasting Union (EBU) have expressed their dismay to learn that the proposed amendments to the Law on Lithuanian National Radio and Television (LRT) are currently scheduled to be discussed by the Seimas (Lithuanian Parliament) after Easter without any due consideration being given to recommendations from the Council of Europe’s Venice Commission, nor to the critical observations expressed by the Seimas’ own legal experts and both the national and international journalist communities
The Executive Board – whose members are the leaders of 8 public service media organizations throughout Europe – stressed again on behalf of the EBU and their own organizations that the current draft law would only further increase the vulnerability of LRT to political pressure and thus severely undermine LRT’s public service remit and vital role in providing the Lithuanian public with independent, reliable and pluralistic information.
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Originally published on 30 Mar
Read MoreBaltic microenterprises to get €15 million financing boost under EIF-backed initiative by alternative lender Capitalia
The smallest companies in the Baltics will be eligible for up to €15 million in loans as a result of an initiative that alternative financing provider Capitalia is undertaking with support from the European Investment Fund (EIF). Capitalia will use an EIF guarantee to offer crowdfunded loans to microenterprises in Estonia, Latvia and Lithuania over three years.
Microenterprises, which have fewer than ten employees and annual turnover or total assets below €2 million, often struggle to secure funding from traditional lenders because of limited collateral or credit history.
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Originally published on 30 Mar
Read MoreTesonet invests €5 million in Finbee Group
Following approval from the Lithuanian Competition Council, Tesonet has completed a €5 million investment in the Finbee group (UAB Holbee). The investment is intended to strengthen the group’s capital base and expand financing volumes for consumers and small businesses in Lithuania and international markets.
The transaction represents a significant vote of confidence in Finbee’s long-term strategy and growth trajectory. The partnership is expected to accelerate the company’s expansion into new markets, enhance customer experience solutions for both borrowers and investors, and support broader marketing initiatives.
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Originally published on 5 Mar
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 MoreIgnitis Renewables marks record year with six projects reaching commercial operation in 2025
In 2025, Ignitis Renewables brought 714 megawatts (MW) of new renewable capacity online across the Baltics and Poland – the strongest delivery year in the company’s history. Six large-scale wind and solar projects entered commercial operation, reinforcing Ignitis Renewables’ position as one of the region’s leading renewable energy developers.
“In 2025, we delivered renewable capacity at scale and at speed. The projects commissioned last year significantly increase domestic electricity generation and strengthen the region’s energy independence laying the foundation for an energy abundant ecosystem and globally competitive prices for consumers,” says Frank Oomen, CEO of Ignitis Renewables.
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Originally published on 5 Mar
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