Energy, Energy Market, Good for Business, Innovations, Lithuania, Technology
International Internet Magazine. Baltic States news & analytics
Thursday, 28.03.2024, 21:54
Major Sandbox for Energy Infrastructure and Data Launched in Lithuania
EnergyTech companies can apply for access to
Lietuvos Energija’s traditional and renewable generation assets as well as its
over 120,000 kilometres of power lines and support infrastructure in order to
conduct proofs of concept or showcase their technology to LE for further
investments or development.
“The LE 2030 strategy envisages Lietuvos Energija
among the world’s most agile and innovative energy companies, so we are working
to attract innovative ideas using the principles of open innovation. From our
meetings with potential partners in Silicon Valley in the U.S., and in Europe,
we know that the market also needs such open infrastructure where innovations
can be tested,” says Darius Maikštėnas, the Chairman of the Board and CEO at
Lietuvos Energija.
Lietuvos Energija is opening up its
infrastructure to energy innovators free of charge, and is also offering them
the opportunity to consult with relevant experts. Authors of innovative ideas
can apply to participate in the sandbox project on the website of the Lietuvos
Energija Innovation Hub – Leinnovationhub.com.
“A project like this does more than just help
potential partners bring innovative solutions to life. Meanwhile Lietuvos
Energija will see what technologies can
be used in Lithuania, what benefits they would bring the group, and what
technologies would not be justified,” notes Dominykas Tučkus, a Member of the
Board and Director of Infrastructure and Development at Lietuvos Energija.
Lietuvos Energija will make its infrastructure
and data available not only to innovators who are developing new energy
technologies, but also to people working on applications of data analytics,
blockchain technologies, improved customer experience and other types of
innovation.
The project is starting after the market showed
huge interest in a sandbox previously launched by Energijos Skirstymo
Operatorius (ESO), a company in the LE group that provides electricity and
natural gas supply and distribution services. Altogether, 17 established
companies and startups, including Siemens and Voltaware, have taken part in the
ESO Sandbox.
With innovations identified as a key objective in
Lietuvos Energija’s LE 2030 strategy, an Innovation Hub has been established in
the group with the goal of attracting ideas for energy sector innovations. The
sandbox project is just one of four approaches the group is taking to attract
such ideas.
Lietuvos Energija’s Smart Energy Fund, a venture
capital fund set up in 2017 which is managed by Contrarian Ventures, has
already invested with partners such as BP in five startups from the U.K.,
Estonia and Lithuania.
The Innovation Hub at Lietuvos Energija is also seeking ideas for enhancing energy technologies through hackathons organized both within the group and externally, and by working in close collaboration with other energy companies and sharing the results of pilot projects.
Lietuvos Energija group is a state-controlled
company group which is one of the largest in the Baltic States. The main
activities of the Group include power and heat distribution and supply, natural
gas trade and distribution as well as construction and maintenance of power
plants and grid. The rights and obligations of the shareholder of Lietuvos
Energija group are implemented by the Ministry of Finance of the Republic of
Lithuania.
With its more than 4000 employees, Lietuvos
Energija group controls and operates key Lithuanian power plants ensuring the
security of energy supply, nation-wide distribution network, and services more
than 1.6 mln consumers across Lithuania, offers services of electricity
supply to customers abroad as well as operates 8.5 thousand kilometres of
distributor gas pipelines, supplies gas to more than 570 thousand customers,
implements development projects of strategic significance and pursues the
objectives of the National Energy Strategy.