Cleantech for Baltics

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

Today is the first day at the Breakthrough Energy Summit, taking place in London. 🙌🏼 The meetups, panels and coffee corner discussions cover a wide variety of topics at the heart of the clean Industrial revolution, spanning from technology to societal change management and from agriculture to aviation. We’re glad to be part of such a wide and strong global cleantech network! ⚡️

Fantastic news to wrap up the week. ✅ The Commission is supporting the launch of the European Solar Academy, which aims to train 10,000 workers in the EU solar photovoltaic value chain. This is a big win for our solar manufacturing industry. ☀️ Read more: https://lnkd.in/dhuJEjfd

Last week DigiGreen 2024 confrence brought together over 200 sustainability enthusiasts and expert speakers from across the Baltic countries, along with a larger circle of guests in Vilnius. The event featured insightful discussions including Cleantech for Baltics coalition members Sunly, ROCKIT Vilnius, Open Circle Capital, Lithuanian Private Equity and Venture Capital Association. ▪️ The conference kicked off with an inspiring speech by Viktorija Cmilyte-Nielsen, Speaker of the Seimas of Lithuania, who emphasized the critical role of the Baltic countries in advancing sustainability and technology. ▪️ One of the highlights of the event was the presentation of the 2023 Lithuanian Cleantech Report by the Director Lithuania of Cleantech for Baltics Laima Balčiūnė detailing the performance indicators and data of the most successful companies in this field. ▪️ During the conference, key topics in clean and digital technologies were discussed, including sustainability dynamics and synergy, clean change directions, and the importance of mobility for technological changes, trends in talent needs. ▪️ The event concluded with the Demo Day of the Cleantech Catalyst incubation program, where seven teams vied for a 10,000-euro prize. Congratulations to the Latvian startup HONICS for winning with their innovative UV-V and UV-C sources for more efficient, faster, and cheaper green hydrogen production! Together we are driving the Baltic region towards a greener and more sustainable future. 🌱🚀

Exciting opportunity for cleantech companies! 🚀 Our partner Breakthrough Energy is working together 🤝🏼 with the European Commission and the European Investment Bank (EIB) to accelerate the deployment and rapidly commercialise innovative low-carbon technologies in support of the European Green Deal ambitions and the EU’s 2030 climate targets.   The partnership will mobilise up to €820 million between 2022-2027 in the form of grants, equity and quasi-equity financing support in five key technological areas: ⭐️ Clean hydrogen ✈️ Sustainable aviation fuels 🙌🏼 Direct air capture ⚡️ Long-duration energy storage 🌱 Decarbonisation of industry Further information and application process can be found at Breakthrough Energy Catalyst’s EU-partnership website 🔗 https://lnkd.in/dne42QfB

We have some fantastic news to share with you. 🙌🏼⭐️ During the week of the European Parliament elections, Hanah Lahe, an Estonian EP candidate and current Member of the Estonian Parliament, signed ✍🏻 our manifesto in support of the Baltic cleantech sector. On 5 May, we met with Hanah in front of the Estonian Parliament (Riigikogu), where she officially endorsed the Cleantech for Baltics Manifesto. By signing the manifesto, Hanah has demonstrated her commitment to strengthening cooperation and supporting clean technologies. The manifesto draws attention to 3️⃣ key challenges the incoming European leadership needs to address: 💡 In the Baltics, private cleantech investment increased from €56M in 2017 to €384M in 2023. This rise in private investment is a positive sign for the sector, indicating growing confidence and interest from private investors. However, public investment needs to increase also to sustain and accelerate this momentum. The manifesto states that if we want to boost Baltic cleantech ahead, public and private funding needs to at least double. 💡 Ensuring an equal distribution of union-level funding among member states is crucial for maintaining a fair playing ground. This type of funding should be the primary tool for accelerating the development of the cleantech sector in Europe to strengthen the overall resilience and sustainability of the European economy. 💡Testing, piloting and permitting of cleantech solutions need to be swift to keep pace with the fast-evolving global market. Quick and efficient regulatory processes will enable companies to bring their innovative solutions to market faster, providing a competitive edge. Building a supportive regulatory environment is essential if Europe wants to take leadership in driving sustainable development. Read the full manifesto here: https://lnkd.in/dd8aNBGZ Cleantech for Europe

The sole PV manufacturer in Eastern Europe, cleantech scaleup SoliTek, endorsed the Cleantech for Baltics Manifesto. ✍🏻 Last week, we had the privilege of visiting one of the shining examples of cleantech innovation in Lithuania - SoliTek. The company’s groundbreaking approach is not just about business. Their innovative solutions make a real difference by contributing to global sustainability efforts, from smart energy solutions to world-class solar panels. ☀️ The Cleantech for Baltics Manifesto is all about building a cleantech powerhouse in the Baltics. It states the following: 💶 Increasing our global clean technology competitiveness and reaching environmental goals demands at least doubling public and private funding. Billions have been invested into developing and adopting clean technologies in order to implement Europe’s ambitious climate and environmental goals. In the Baltic countries, private cleantech investments have grown from €56M in 2017 to €384M in 2023. However, public investments need to grow to attract even more private investments. ⚖️ Union level funding should be the priority tool for developing the European cleantech sector, and an equal distribution between the Member States needs to be ensured. This is vital in order to create equal cleantech opportunities across the European Union. The success of the European single market stands on equality and fair competition. This must be maintained while growing investments and support. 🖋️ Europe needs a legislative framework that allows for swift testing, piloting, and permitting of novel clean technologies. The global competitiveness of the European Union’s green economy relies heavily on the first-mover advantage. We need flexible legislation that allows for a wide range of regulatory sandboxes that can create this advantage. Find the manifesto here: https://lnkd.in/dd8aNBGZ Cleantech for Europe #cleantech #madeineurope #baltics