Three international investors will develop wind technology production facilities on Kundziņsala
Over the course of the year, three international investors have been attracted while working on the European Union co-financed project “Creation of Port and Logistics Infrastructure for the Development of Wind Technology Production at Kundziņsala” at the Port of Riga. The companies plan to make significant investments in the offshore and onshore wind technology production facilities, their components, and related industries to be developed in the Kundziņsala area, creating more than 2,000 new jobs in the future. In March of this year, the Freeport of Riga Authority signed investment agreements with two of the investors attracted tin the framework of the project – UAB Eurostat 5 and Solidior Power Ltd.
Public funding for the project “Creation of Port and Logistics Infrastructure for the Development of Wind Technology Production at Kundziņsala” consists of co-financing from the European Regional Development Fund, the Freeport of Riga Authority, and the state, totaling 86 million euros, which is allocated for infrastructure development. Meanwhile, the three investors involved have committed to investing more than 700 million euros in the construction of production facilities in several phases by 2034.
Read full announcement (external link)
Originally published on 7 May
Announcements are published as a service to readers. The sender is responsible for all content. Announcements for publication can be submitted to announcements@thehanseatic.com.
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.
Read full announcement (external link)
Originally published on 18 Feb
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.
Read full announcement (external link)
Originally published on 18 Feb
Finland, Sweden, and Norway face similar challenges regarding land use conflicts and the social acceptability of large-scale hydrogen projects, as well as the new energy production and electricity distribution needs associated with them. These shared challenges are valuable to address and discuss collectively.
Read full announcement (external link)
Originally published on 16 Feb
Estonian Defence and Aerospace Industry Association (EKTL) in cooperation with the Ministry of Defence, is organizing the first-ever Estonian Defence Week in September, bringing together domestic and international defence industry companies, investors, specialists, and policymakers. The week begins with an event organized by the NATO DIANA Estonian accelerator.
Read full announcement (external link)
Originally published on 17 Feb
On the 12th of February, Vidzeme Planning Region organized a seminar “Drone Data Collection and Processing – use cases in Latvia” in Valmiermuiža as part of the “Smart Skies” project, bringing together 50 participants from Latvia and Estonia. The seminar program was designed to introduce the current examples of drone use in Latvian municipalities, as well as share the experience of leading companies in Latvia. Large enterprises, such as LMT and Latvian State Forests have already taken great strides in the application and development of unmanned aviation solutions.
Read full announcement (external link)
Originally published on 14 Feb
RB Rail AS, representing the three Baltic states’ ministries responsible for the Rail Baltica project, submitted a funding application on 13 February 2025 under the CEF-Digital program “5G Large-Scale Pilots – 5G Coverage Along Transport Corridors”. The application seeks financial support to design and build railway radio communication infrastructure that complies with the Future Railway Mobile Communication System (FRMCS) and provides the opportunity to enable 5G connectivity within the European Transport Network (TEN-T).
Read full announcement (external link)
Originally published on 14 Feb
Prototron Fund, Estonia’s first fund dedicated to financing prototype development, has launched a new competition aimed at finding companies eager to transform their ideas into practical solutions. A total of €75,000 will be distributed among the best applicants, with applications open until 28 February.
Read full announcement (external link)
Originally published on 12 Feb
The City of Oulu and Verso Energy of France have signed a joint venture agreement to build a hydrogen refinery in Oulu that will produce 80,000 tonnes of synthetic aviation fuel (eSAF) per year. According to Verso Energy, the plant is estimated to cost €1.4 billion and would employ 250 people.
Read full announcement (external link)
Originally published on 14 Feb
P2X Solutions, a Finnish pioneer in green hydrogen, has been the first in Finland to launch commercial operations of green hydrogen at its production plant in Harjavalta. The start of production at the Harjavalta plant is a significant milestone for the Finnish hydrogen economy.
Read full announcement (external link)
Originally published on 12 Feb
In the She’s Next 2024 grant programme by Visa, two Latvian companies—family-owned soil mix business Nordspring and Nordic herbal tea brand Plūkt—have been announced as winners. Each company will receive €10,000 and a one-year personal business training opportunity.
Read full announcement (external link)
Originally published on 13 Feb