EIMIN: GreenTech Hub helps companies adapt to change
The Ministry of the Economy and Innovation, together with the Innovation Agency's GreenTech Hub team, is working on a new €42 million instrument to implement decarbonisation solutions in industrial companies. The GreenTech Hub, established within the Innovation Agency, is already a one-stop shop for companies looking to adapt to the changes of the green transformation.
"We have set ourselves the ambitious goal of becoming a climate neutral country by 2050. To help businesses adapt, we have set up the GreenTech Hub, which I encourage businesses looking to make important and necessary changes to contact, whether they are looking for funding opportunities or business partners," said the Minister of the Economy and Innovation Aušrinė Armonaitė.
The €42 million call, which will be launched in the last quarter of this year, aims to encourage industrial companies to adopt greener technologies that will help improve energy efficiency and reduce greenhouse gas emissions. This will provide additional impetus for industrial companies to move towards a low carbon economy.
"GreenTech Hub experts provide one-on-one advice to companies on planned and existing policies to promote innovation and decarbonisation, circular economy and sustainability. The experts also help find business and academic partners and organise business missions to other countries to learn from best practices.
In addition, the unit provides necessary information on current or future regulatory developments in the field of green transformation, both at Lithuanian and EU level, and informs on EU Green Deal initiatives relevant to Lithuanian industry. In just four months of operation, the GreenTech Hub has already provided more than 20 advisory services to domestic companies, most of them on financial support.
"The Innovation Agency's unit in the Lithuanian ecosystem acts as a bridge between businesses and public authorities. By initiating and managing their own activities, companies save time and receive direct guidance on financing and addressing issues related to industrial transformation. In this way, we ensure a faster transition to a climate-neutral economy for business," says Ieva Valeškaitė, Vice-Minister of the Economy and Innovation.
"The Greentech Hub will also lead the Regional Innovation Valley project, which aims to create the strongest interregional circular economy innovation consortium in the European Union, transforming traditional industrial value chains by bringing new solutions based on circular innovation to the market. The project will involve up to 9 countries including Sweden, Belgium, France, Spain and others. The total budget of the project is almost €27 million," says Teresė Škutaitė, Group Manager of the GreenTech Hub innovation agency.
"The GreenTech Hub also shares its expertise on green technologies through events. We have already held discussions with innovators and stakeholders in renewable energy, recycling and new circular practices to better understand the opportunities and challenges ahead. Updates on planned events are available on the Innovation Agency website.
The GreenTech Hub was established in March 2024 as part of the EIMIN initiative, in response to the growing need to promote green technologies.