On April 9, UP Catalyst, in a social media post, announced that it has secured EUR 18 million European Investment Bank (EIB) financing to advance the EU’s critical raw material production.
It will help UP Catalyst to scale up molten salt electrolysis technology and produce high-performance carbon materials for EV bat

On January 31, Invest in Estonia announced that Gridio, a Tallinn-based startup that helps electric vehicle owners charge their cars when electricity is cheapest, has raised EUR 2.4 million in seed funding. The round was led by Neoinvesteeringud, with Encevo, SmartCap, and Renergy joining.
It requires no additional h

On December 19, UP Catalyst announced that it has achieved the lowest carbon footprint for CNTs (carbon nanotubes) and one of the lowest for battery-grade graphite. The cradle-to-gate LCA was conducted by the Research Institutes of Sweden (RISE) and reviewed by Bureau Veritas Poland and Estonia offices. 
The results

On December 2, Invest Estonia announced that Estonian-based Auve Tech has secured Level 4 autonomous driving approval in Japan for its MiCa shuttle. The company’s autonomous shuttles commenced operations on public streets in Taki Town, Mie Prefecture on November 29, 2024. 
The MiCa shuttle is an 8-seat autonomous veh

On November 4, Neo Performance Materials Inc. entered into a loan agreement with Export Development Canada for a term loan of up to USD 50 million to finance the ongoing construction of the sintered magnets facility in Narva, Estonia. The plant is expected to be completed in 2025. 
Strategically located near Neo’s ex

On September 10, UP Catalyst closed a EUR 2.36 million seed extension round. This follows the initial seed round raised last December which amounted to EUR 4 million, bringing the total seed funding to EUR 6.36 million.  
This investment will expedite the development of an industrial pilot reactor capable of processi

On August 22, Invest in Estonia announced that cleanTech startup UP Catalyst raised a EUR 2.36 million seed extension round. The funding will accelerate the construction of its industrial production unit, positioning UP Catalyst as the largest provider of CO₂-grown carbon materials globally. UP Catalyst produces two

Neo Performance Materials Inc. announced that its subsidiary in Estonia, NPM Narva OÜ, won a contract to supply sintered rare earth magnets to a leading European Tier 1 supplier of EV traction motors. The sintered magnets will be supplied by Neo’s new manufacturing facility in Estonia, under its Magnequench segment.

On June 18, Elcogen laid the cornerstone of a new factory in the Loovälja Industrial Park near Tallinn. The 14,000-square-meter factory will significantly increase its current production capacity of solid oxide cells and stacks to meet the growing global demand for emission-free energy and green hydrogen-producing fu

On June 6, Skeleton announced its participation in the Hydrogen IPCEI Hy2Move for the transportation sector, aiming to develop pioneering high-power energy storage solutions for hydrogen fuel cells (H2FC), extend their lifespan, and increase efficiency. 
Skeleton will collaborate with other IPCEI Consortium members,

On May 13, Skeleton Technologies selected France and the Occitanie region to invest EUR 600 million within 5 years. It will start R&D activities in Toulouse in Q4 2024 to develop next-generation battery technology. In the second phase, the group plans to build a manufacturing facility in the Occitanie region to produ

On May 3, Elcogen announced the development of a new factory in Tallinn to expand its solid oxide fuel cell and stack and solid oxide electrolyzer cell and stack manufacturing capacity.
Construction of the new 14000 square meters facility in Loovälja Industrial Park started at the beginning of January 2024, with oper

On April 5, Auve Tech launched its flagship product, the MiCa shuttle, in the US market. Auve Tech has partnered with Guident to integrate its teleoperation solution into the MiCa autonomous shuttle, amplifying its safety features and augmenting Auve Tech’s advanced autonomous technology.
The MiCa autonomous shuttle

On April 3, Elcogen announced that Baker Hughes had made a strategic investment in the company.  Elcogen has now raised more than EUR 140 million for the continuous development and scaling of its market-leading solid oxide technology.
These funds will be used to expand Elcogen’s manufacturing capacity as it continues

On March 22, Eleport closed a financing round from current investors Ambient Sound Investments and Gren to prepare for a transformative year in 2024 with a comprehensive strategy aimed at consolidating its position in the CEE market and driving sustainable growth. It will invest more than EUR 20 million in 2024 and o

On December 6, UP Catalyst closed a EUR 4 million seed investment round to advance its ground-breaking technology.  With the funding, the company will build an industrial pilot reactor capable of processing 100 tons of CO2 annually and producing 27 tons of carbon materials, making UP Catalyst the largest provider of

On October 25, Elcogen signed a memorandum of understanding (“MOU”) with Bumhan Fuel Cell Co. (“Bumhan”). The purpose of the partnership is to cooperate towards the commercialization of solid oxide fuel cells (SOFC) and solid oxide electrolyzer cells (SOEC) technology to catalyze the global transition to clean energy

On October 13, Skeleton Technologies closed a EUR 108 million funding round, including Siemens Financial Services (SFS), Marubeni Corporation, and other investors. It will accelerate the development of next-generation products and finance the manufacturing expansion for supercapacitors and the company’s new high-powe

On October 4, Volvo Defense, a vehicle and power systems provider based on the Volvo branded trucks, signed a 7-year framework agreement with the Estonian Centre for Defence Investments and the Ministry of Defence of the Republic of Latvia for the delivery of logistic trucks. Volvo is one out of two suppliers that co