Cleantech for Baltics

🚨 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

💵 BALTIC CLEANTECH ANNUAL REPORT 2023: financial deep dive 💵 We recently published our long anticipated Baltic Cleantech Annual Report 2023. Let's take a closer look at some of the key findings, starting with financial indicators. ⬇️ Overall, Baltic cleantech investments showed growth compared to 2022, totaling €395.65 million. It’s important to note that after a peak in 2021, investments dropped sharply in 2022. However, the sector bounced back in 2023 and saw a strong recovery with a 40.3% increase. This upward trend reflects the renowned confidence within the sector. In 2023, cleantech investments reached: 🇪🇪 270M€ in Estonia 🇱🇹 110M€ in Lithuania 🇱🇻 16M€ in Latvia With 45 deals altogether, the average deal amount was 9M€. Investment leaders from each Baltic state were: ⭐️ Estonian Skeleton Technologies with 108M€ in Q4 ⭐️ Lithuanian PVcase with 92M€ in Q3 ⭐️ Latvian Naco Technologies with 9.2M€ in Q1 The Energy & Power sub-sector dominated investments, attracting 83% of the total while Transportation & Logistics saw the biggest decrease (-36.1%). The popularity of clean energy technologies is rooted in the ongoing energy crisis, which demands a need for increased energy security through innovative solutions. Read the full report: https://lnkd.in/deh_A_uy

The Baltic VCA Summit brought once again PE and VC investors to Vilnius ⬇️ In our panel discussion, we explored the opportunities available to the Baltic States within the context of the clean economy. While everyone agreed that the potential is significant, it was emphasised that more efforts are needed to fully realise these opportunities. 💪🏼 The panel also acknowledged the notable progress made by the clean technology sector, with increased investment not only from specialised funds but also from generalist investors. 💶 A big thank you to co-panelists—Pawel Gierynski, Paulius Zurauskas, and Erki Ani—and our panel moderator, Rūta Skarulskė. Great job with organising the event, Greta Mieliauskaitė and the Lithuanian Private Equity and Venture Capital Association. 👏🏼

⭐️ BALTIC CLEANTECH ANNUAL REPORT 2023 ⭐️ We're excited to announce that our 2023 Baltic cleantech report is now live! This is already our third annual publication, showcasing the progress and innovation within the Baltic cleantech sector. Let's look at some of the biggest wins from 2023: 📈 The Baltic region continues to shine in the global cleantech arena, leading annual investments per capita with an impressive €64. This is nearly double the rate of North America at €33 and significantly ahead of the EU27 average of €25. ⚡️In 2023, the Energy & Power sub-sector dominated cleantech investments, attracting 83% (€329.75 million) of the total. This sub-sector also saw the largest growth, with investments surging by 41.3% compared to 2022. Given the ongoing war in Ukraine and the resulting energy crisis, the demand for innovative energy technologies has never been higher. This trend is likely to continue into the coming year as the need for sustainable energy solutions grows. ✨ Both private and public resources were being funneled into early-stage cleantech funds set to roll out from 2024 to 2026. As a result, we anticipate an increase in early-stage companies securing pre-seed, seed, and Series A funding in the coming years. The Baltic region's role as a hub for clean technologies is only strengthening. With new public policies in place and an increasing number of support measures, we’re confident that the sector’s growth will continue. Read the full report ➡️ https://lnkd.in/deh_A_uy

Innovators: you have one week left to submit your solution supporting one or more of DIANA's 2024 Challenges. Please don't wait until the last minute! Visit https://lnkd.in/dD63mxUA to learn more about our challenges and apply. #deeptech #innovation #dualusetech #challenges #natoinnovation

We will be at the 2024 Cleantech for Europe Summit to join in on high-level discussions on Europe’s strategies and collaboration for clean industrial leadership and competitiveness. 👏🏼🏭 On 26 September, leading innovators, investors, and top policymakers will make their way to Brussels with a shared goal to supercharge the industrialisation of European cleantech. This summit, held at the start of the new EU political mandate, offers a chance to ensure Europe prioritises industrial competitiveness and the scaling up of cleantech manufacturing. The Baltic cleantech sector is extremely dynamic, leading Europe in per capita cleantech investments as of 2023. However, we know that European clean industrial competitiveness relies on a strong single market and ambitious industrial strategies. At Cleantech for Baltics, we’re glad to take part in the summit to participate in strengthening EU-wide cleantech collaboration and discussing policies that boost growth funding. It's time to scale. 🔗 You can request to join the summit by expressing your interest here: https://lnkd.in/giD3TuHE

Read our Q2 2024 Baltic cleantech briefing. ⬇️ As the second quarter of 2024 draws to a close, we can applaud👏🏼 the Baltic cleantech players for another record-breaking quarter, showing a 307% increase in amounts invested compared to Q2 2023. Companies in the Energy & Power sector secured the most money. Other notable news: 🇪🇪 The Ministry of Climate of Estonia presented the key principles of the Climate Resilient Economy Act. A big emphasis is on ensuring a smooth transition to renewable electricity as clean energy production has the biggest potential in helping Estonia reach its 2030 climate targets. 🇱🇻 In Riga, Latvia's two premier startup events, Deep Tech Atelier and TechChill, successfully concluded in April and May. Both events highlighted Riga's growing importance as a hub for innovation and entrepreneurship as well as cleantech in the region. 🇱🇹 Lithuanian Seimas updated the National Energy Independence Strategy. The document aims for Lithuania to become fully energy independent by 2050. To read more, see below or here: https://lnkd.in/dqAfhzvV

Big news from Europe! 🇪🇺👏🏼 European Parliament has re-elected Ursula von der Leyen as Commission President. With that, a document that includes political guidelines for the next European Commission was published. It highlights the important role of clean technologies in achieving environmental and climate ambitions and bringing down energy costs for companies and households. It mentions a new Clean Industrial Deal to support industries in transitioning to cleaner technologies. This includes the Industrial Decarbonization Accelerator Act which aims to channel investment into energy-intensive sectors and speed up planning and permitting processes. Attention is brought to energy security. ⚡️ Efforts will be made to reduce energy prices by moving away from fossil fuels, increasing the need for clean energy. Read more here: https://lnkd.in/ehgEFPsJ

Baltic electricity transmission system operators (TSOs) sent a notice of their intention to decouple from the Russia-controlled BRELL electricity system in February 2025.⚡️🙌🏼 This is an important step towards a more secure and sustainable power system. As a result, our energy security will increasingly depend on renewable energy, storage and other cleantech solutions. Read more below ⬇️ or here: https://lnkd.in/dqxtgrzQ

Breakthrough Energy Summit 2024 has just ended after 2 days of visionary talks, inspiring encounters and shared passion for the Clean Industrial Revolution in boiling London weather. ☀️ In his opening remarks, Bill Gates looked back at the early days of Breakthrough Energy (BE) community when it was a small group of people who refused to give up after the cleantech bubble burst in the 2000’s. Since then, the community of cleantech pioneers has grown remarkably. As a partner of BE, Cleantech for Baltics is part of this powerful global network of innovators, policymakers and industry leaders. 🌐 A few bold statements we're taking with us from the summit: 💬 Last year, more investments went into renewable energy than fossil fuels. – John Kerry 💬 What’s good for the market is also good for security and for competitiveness. – Ann Mettler 💬 At Stanford and other universities around the world, the students see climate science as the new computer science. – John Doerr The world really does need more breakthroughs. It's time we team up and accelerate our efforts to scale and deploy transformative solutions that will lead us toward a cleaner future. Thank you 🙌🏼 Julia Reinaud, Mariano Berkenwald, Ann Mettler, Jules Besnainou, Magnus Agerström, Bianca Dragomir, Tobias Lechtenfeld, Sarah Mackintosh, Federico Cuppoloni. Brooke Latham and Nacho Gimenez, looking forward to discuss further how we can help cleantechs advance our energy security and resilience efforts. ⚡️ #BESummit24