Cleantech for Baltics

🙌🏼 We are happy to announce that SoliTek has joined the Cleantech for Baltics Coalition! As a leader in solar innovation and sustainable manufacturing, SoliTek is transforming the renewable energy landscape in Europe. Their dedication to eco-friendly practices and cutting-edge solar technologies aligns perfectly with our mission to accelerate cleantech growth in the Baltics. 💡 Explore how SoliTek is advancing sustainable energy solutions and leading the charge toward a greener future. ⬇️ #CleantechThoughtLeaders #CleantechForBaltics

⬇️ Baltic cleantech developments from the last quarter – read our Q3 2024 briefing ⬇️ The Baltic cleantech sector saw a drop in investments in Q3, attracting €54.54 million. Compared to the same period last year, overall investment for the first three quarters of 2024 is still up 12.13%. Despite the recent slowdown, the sector is demonstrating strong growth potential and attracting interest from investors. Lithuanian Ovoko \ RRR.LT secured a notable Series B investment of €20 million to reinvent a circular economy for car parts. This is the largest investment in Lithuania's startup ecosystem this year. Read our Quarterly Briefing to learn more about: 💸 The state of Baltic cleantech investment 🏛️ Biggest cleantech policy developments in the Baltics 🚀 Funding news from innovators such as Ovoko \ RRR.LT, eAgronom, MYCEEN, UP Catalyst, ÄIO, MarkeDroid, Fairown, Sort A Brick The EU faces significant challenges in the coming years, including strengthening its defence and economy. Cleantech can play a crucial role in addressing these issues. It can enhance energy, resource, and supply chain resilience, and support defence sector development. Member States must now align their national policies with these European priorities, considering the opportunities presented by cleantech. Link to the briefing: https://lnkd.in/dx3psqnK

3 Baltic net-zero projects have been selected by the European Commission to receive support from the EU Innovation Fund 👇🏼 In total, 85 innovative projects will receive €4.8 billion in grants as part of the fund’s latest call, marking the largest round of funding since 2020. This helps to deploy cutting-edge clean technologies across 18 countries in Europe, supporting sectors like renewable energy, energy storage, and net-zero mobility. 🇪🇪 Elcogen from Estonia is among the beneficiaries of the Innovation Fund’s latest round, receiving funding to manufacture Solid Oxide Electrolyzer Cells (SOEC) for the production of green hydrogen. Together, these 85 newly supported projects are expected to cut emissions by a massive 476 million tonnes over the next decade. Other 2 Baltic projects received funding from the Innovation Fund's earlier rounds: 🇱🇻 Latvia's Aerones is using their grant from the fund’s 2022 call to deploy first-of-a-kind robotic systems for wind turbine repair. With this project, Aerones aims to satisfy the growing demand for wind turbine maintenance services by saving time. 🇱🇹 From the 2021 call, Lithuania’s GREEN GENIUS received funding for a novel Energy-as-a-Service solution that will enable industrial consumers to meet 100% of their annual electricity needs with cost-effective, locally produced electricity from solar photovoltaic plus storage (PV-plus-storage) systems. 🔗 Learn more: https://lnkd.in/ggdPFh9D

Lithuania is making important steps in energy security! By supporting energy storage investments they ensure the flexibility, stability and reliability of their power system 👏

Cleantech for UK has sent out a response to the UK's National Planning Policy Framework (NPPF), offering recommendations for reforming the policy to be more supportive of net zero project investment and deployment. The Baltic countries share similar challenges and agree on the recommendations presented in the response. We're glad that the UK, like the EU, is strengthening its focus on clean industry and clean energy. Read more below. ⬇️

❗️ The cleantech industry faces a pressing challenge: securing growth financing A report by Sightline Climate (CTVC) unveiled that raising Series B financing for cleantech companies now averages over two years, a stark increase from 11 months just three years ago. On 1 October, the Cleantech for Baltics Coalition gathered for its quarterly meeting. The meeting tackled the challenge of accessing growth financing for cleantech companies, laying the groundwork for a white paper 📝 and one-on-one discussions with coalition members to identify additional key points. Read more: https://lnkd.in/eJVkWDtR Special thanks to Julius Sakalauskas, Teresė Škutaitė, Magnus Agerström, and Huy-Vu Nguyen for presenting us your insights at the meeting! 🙌🏼 ⚡️ Our powerhouse of a coalition ⚡️ 🇪🇪 Honey Badger Capital, Lemonade Stand, Sunly, The Better Fund, Estonian Private Equity & Venture Capital Association (EstVCA), Estonian Business Angels Network (EstBAN), Accelerate Estonia, Startup Estonia, Estonian Founders Society, Eesti Taastuvenergia Koda, Skeleton Technologies, Beamline Accelerator, SFV 🇱🇻 BADideas.fund, Commercialization Reactor, Expansion Capital, Imprimatur Capital, Latvian Business Angels Network, Latvian Hydrogen Association, Latvian Private Equity and Venture Capital Association (LVCA), Latvian Startup Association Startin.LV, Latvijas Investīciju un attīstības aģentūra - LIAA, Naco Technologies 🇱🇹 Lithuanian Private Equity and Venture Capital Association, Lithuanian Business Angel Network LitBAN, ROCKIT Vilnius, Lithuanian Responsible Business Association (LAVA), Lithuanian Confederation of Renewable Resources, Cleantech Cluster Lithuania, Katalista Ventures, Practica Capital, Contrarian Ventures, Open Circle Capital, PVcase, SoliTek

🙌🏼 Shaping the future of cleantech at the Cleantech for Europe Summit 2024 in Brussels! Cleantech for Baltics was proud to join the conversation on scaling up cleantech solutions across Europe at the Cleantech for Europe Summit on 26 September. Here are the two most crucial topics being discussed across Europe at the moment: 1️⃣ Demand creation Strengthening demand for cleantech solutions is one of the top priorities. Cleantech must be integrated into investments across all sectors to drive European demand, supported by local component rules to encourage local production. Green public procurement can lead this shift. 2️⃣ Financing and de-risking cleantech investments It's essential to build a strong business case for cleantech, with public funding acting as a cushion to reduce the risks for private investors. Public investment should step in where private capital falls short to increase Europe's capacity for risk-taking. For the Baltics, involvement in these high-level discussions is critical, reinforcing the region’s role as a hub of innovation! ⭐️ More on the summit here: https://lnkd.in/dbwqEWFH

Share your voice for a stronger Baltic cleantech sector! 💪🏼 We invite you to take part in the Baltic Cleantech Survey 2024 📝. This survey aims to map the current state of the sector, along with the needs and challenges faced by cleantech companies across the Baltics. By participating, you'll play a crucial role in helping us: 🔊 Advocate for the most pressing issues 🎯 Develop and tailor the support services needed by the sector 🧠 Provide valuable insights to public organisations Be a catalyst for change! Answer the survey by 4 October: https://lnkd.in/dyBnTKVy

We’re looking forward to the Cleantech for Europe Summit 2024! The summit comes at a pivoting time with the new EU political cycle starting and the recent publishing of Mario Draghi’s report on EU competitiveness. Join us online for the plenary sessions - link below Cleantech for Europe, Breakthrough Energy , Jules Besnainou , Suzana Carp , Julia Reinaud , Mariano Berkenwald , Imants Martinsons, Laima Balčiūnė, Kaija Veskioja

🚨 Lithuania takes a bold step towards a greener future! 🌍 In a landmark decision, the Seimas (Lithuanian Parliament) has passed amendments to the Law on Alternative Fuels, committing to a 39% reduction in oil-based fuels in transport by 2030. This is an ambitious target 🎯 for a small country and a game-changer, encouraging businesses to invest in green energy solutions and transport decarbonisation. Martynas Nagevicius, President of the Lithuanian Renewable Energy Confederation and member of the Cleantech for Baltics coalition, emphasised that the breakthrough comes from businesses uniting across renewable energy sectors to reduce reliance on oil. With over 250 companies and organisations now involved, this initiative is set to make a significant impact. 🙌🏼 Learn more about this important milestone and the next steps in Lithuania's journey towards a more sustainable transport system ➡️ https://lnkd.in/dqKh7_89 #GreenEnergy #Sustainability #RenewableEnergy #TransportRevolution #Lithuania2030 #Cleantech Source: maziaunaftos.lt