Posts Tagged ‘Lithuania’
Lithuania brings in reforms to boost defence spending
A small Baltic reform is being watched far beyond Vilnius
Read MoreLTG Infra prepares for Rail Baltica land acquisition in Panevėžys Railway Node and regional station areas
LTG Group company LTG Infra has signed contracts for land acquisition for public needs in the Panevėžys Railway Node and regional station areas, including engineering systems along the section between Kaunas and the Lithuanian–Latvian border.
The tenders were awarded to Tyrens Lietuva and a consortium operating under a joint venture agreement – Atamis (lead partner) and Projects House – which will carry out the land acquisition activities.
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Originally published on 13 Jan
Read MoreCast AI Becomes Lithuania’s Latest Unicorn After Strategic Investment Pushes Valuation Past USD 1 Billion
Cast AI, a cloud infrastructure automation and cost-optimization company with strong operational roots in Lithuania, has officially reached unicorn status after securing a strategic investment from Pacific Alliance Ventures, the corporate venture capital arm of South Korea’s Shinsegae Group. While the exact investment amount remains undisclosed, the funding round has pushed the company’s valuation beyond USD 1 billion.
This milestone places Cast AI among the world’s elite billion-dollar startups and makes it Lithuania’s fifth unicorn, according to the national startup association Unicorns Lithuania.
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Originally published on 13 Jan
Read MoreLithuania launched tender for Rail Baltica’s design up to Latvian border
LTG Infra, an infrastructure company belonging to the LTG Group and responsible for implementing the Rail Baltica project in Lithuania, has announced an open international tender for design services for the section from Panevėžys to the Lithuanian–Latvian border. The total length of this section is approximately 54 km.
In 2025, LTG Infra signed contracts for construction works on a 114 km section from Kaunas to Panevėžys, where preparatory and construction activities are underway, including superstructure works on the most advanced 9 km section. Design work is also in progress on the section between the Lithuanian–Polish border and Kaunas, where nearly 100 km of railway will be modernized.
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Originally published on 5 Jan
Read MoreSaab receives order for RBS 70 Bolide missiles from Lithuania
Saab has received an order for RBS 70 Bolide missiles from the Lithuanian Ministry of National Defence. The order value is SEK 3 billion and deliveries are expected to take place 2028-2032.
Saab RBS 70 NG Air Defence Missile System
The order is placed within a framework agreement for Saab’s short-range air defence missile solution RBS 70 NG between Saab, the Swedish Defence Materiel Administration (FMV) and the Lithuanian Ministry of National Defence.
“With this order, we continue our commitment to supporting the Lithuanian Armed Forces’ with our world-leading RBS 70 missiles. These form a key part of the nation’s air defence capability and contribute to keeping Lithuania’s airspace safe,” says Görgen Johansson, head of Saab’s business area Dynamics.
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Originally published on 31 Dec
Read MoreSaab receives ground combat orders from Lithuania
Saab has received orders from Lithuania for the AT4 weapon as well as ammunition for the Carl-Gustaf weapon with a combined order value of SEK 1.3 billion. Deliveries are planned 2027-2029.
The orders are placed within a framework agreement initially signed between Saab and the Swedish Defence Materiel Administration, which enables Lithuania, Latvia and Estonia to place orders for Saab’s Carl-Gustaf M4 and ammunition as well as AT4 weapons.
“We look forward to continuing to provide the Lithuanian forces with the reliable, highly effective capabilities of our support weapon AT4 and specialised ammunition for the Carl-Gustaf system. Our solutions give soldiers precision and ease-of-use, enabling them to carry out their missions safely and with confidence, says Görgen Johansson, head of Saab’s business area Dynamics.
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Originally published on 23 Dec
Read MoreEPSO-G Announces Selection of Energy Cells Board Members
The new energy group EPSO-G has announced a selection process for board members of its subsidiary Energy cells. Candidates are invited to submit their applications by January 30, 2026.
Three board members will be selected: an independent board member with expertise in financial management and mergers and acquisitions (M&A), a board member nominated by EPSO-G, responsible for strategic planning and management, and a board member who is a civil servant, responsible for state aid and national security issues.
Energy Cells plays an important role in ensuring the security and resilience of the Lithuanian energy system by providing the system with the necessary isolated working reserve service. In order to consistently implement the strategic goals of the company and the entire EPSO-G group, we seek to attract professionals of the highest competence to the board,” says Mindaugas Keizeris, head of EPSO-G.
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Originally published on 18 Dec
Read MoreEBRD backs Lithuania’s first green securitisation with ILTE
The European Bank for Reconstruction and Development (EBRD) is supporting Lithuania’s green transition and capital market innovation with a €50 million landmark investment in the country’s first green asset backed securitisation, originated by ILTE, Lithuania’s national development bank, as part of a €112 million issuance.
This pioneering transaction is the first true sale green securitisation in the Baltic states, setting a new benchmark for sustainable finance. Backed by ILTE’s portfolio of performing energy-efficiency loans, the notes have achieved a AAA rating from two leading international agencies and have been listed on the Nasdaq Vilnius exchange.
By transforming energy-efficiency loans into investable securities, the transaction introduces innovative market-based instruments and shows the strength of Lithuania’s recently reformed securitisation framework. It also creates a replicable model for attracting long-term institutional capital, boosting investor confidence and accelerating the development of the region’s capital markets.
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Originally published on 19 Dec
Read MoreGameTech’s Third Edition Marks a Milestone in the Development of Lithuania’s Video Game Ecosystem
With the conclusion of its third edition, GameTech has firmly established itself as a cornerstone of Lithuania’s video game ecosystem, marking a significant milestone in the country’s strategy to position games as a high-impact creative and technological industry.
Since its launch, GameTech, an initiative led by the Lithuanian government together with Startup Lithuania and powered by GameBCN, has acted as a catalyst for emerging and growing game studios, combining acceleration, international expertise, and ecosystem building. Across its three editions, the program has demonstrated both scale and depth in its impact. Over the course of the program’s history, more than 250 teams applied, reflecting the strong demand for specialized support in the gaming sector. From these, 32 teams were selected to participate, representing a diverse range of studios at different stages of development, from early concepts to companies preparing for global scale-up.
GameTech has delivered over 1,000 hours of mentoring and training, provided by an international network of industry experts covering game production, business development, publishing, monetization, and investment readiness. This intensive support has been complemented by 24 public events, including masterclasses, open days, demo days, and play-testing sessions, designed not only to accelerate teams but also to strengthen the broader Lithuanian gaming community and its visibility.
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Originally published on 19 Dec
Read MoreThe Port of Klaipėda on a steady course: cargo volumes maintain double-digit growth
The Port of Klaipėda handled nearly 36 million tonnes of cargo over the first eleven months of the year, maintaining double-digit growth compared to the same period last year. Growth was driven by containerised cargo, ro-ro freight transported by ferries, and liquefied natural gas (LNG), with Klaipėda remaining the leading port among the Baltic States.
Over the first eleven months of this year, nearly 12 million tonnes of containerised cargo were handled at the Port of Klaipėda, representing a 29% increase compared to the same period last year. Containerised cargo accounts for 33% of the port’s total cargo throughput this year.
Since the beginning of the year, almost 1.2 million TEUs (twenty-foot equivalent units) have been handled at the Port of Klaipėda, which is a 23% increase year-on-year. The milestone of one million TEUs was reached earlier than ever before in the port’s history — in October. Traditionally, Klaipėda would join the “millionaire ports” in December.
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Originally published on 18 Dec
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