We are focusing on attracting innovative ideas and implementing the best ones. By investing in innovations, we are creating the future energy sector and the opportunities for our customers to take advantage of modern technologies and solutions.
Ignitis Group’s Innovation Hub is creating a world full of #EnergySmart possibilities. The hub follows an open innovation principle, constantly looks for and implements new ideas, which encompasses solution ideation and testing of future energy products and services.
Innovation is paramount in pursuit of Ignitis Group’s purpose to create a 100% green and secure energy ecosystem for current and future generations.
Power-to-X (P2X) technologies can convert renewable electricity into hydrogen, ammonia, synthetic methane or methanol. The alternative fuels may be used to store energy and are important for reducing carbon emissions in the industrial and transport sectors. P2X technology development is critically important when it comes to delivering the European Green Deal as well as the energy independence of Lithuania.
We are developing green energy capacities to reduce our greenhouse gas emissions and achieve the national energy independence goals. The uncertainty related to weather conditions prevents is the main cause for inconsistent renewable electricity generation. Power-to-X (P2X) technologies open possibilities to increase the generation of renewable electricity and solve the network management issues. P2X technologies enable the flexible demand response mechanism that helps stabilise the surplus or deficit of electricity and are vital for the green energy capacity expansion.
Ignitis Group is actively participating in venture capital. By utilising our resources and experience, we partner with fund managers and start-ups in order to provide our customers with the latest technologies and services. Investments in venture capital are important contributors to our goal of leading in innovations and sustainability. Ignitis Group has invested into two funds: IISUTIB Smart Energy Fund powered by Ignitis Group and World Fund.
In 2017, we established the first energy-focused venture capital fund in the Baltics, IISUTIB Smart Energy Fund powered by Ignitis Group, which is managed by Contrarian Ventures. The fund has successfully completed its investment rounds and so far has generated a return of EUR 15.6 million. The fund has invested into early-stage start-ups in energy and e-mobility in the markets of Lithuania, the European Economic Area, the Great Britain, Switzerland and Israel. The pilot project launched by the fund enabled innovative services for customers, for example, a tool for monitoring the electricity consumption of household appliances and a dynamic EV charging solution.
After the success of the first fund, in 2023 Ignitis Group joined a European venture capital fund, World Fund, and committed to invest around EUR 25 million into climate tech start-ups in the early and growth stages of their development. World Fund is investing in technologies that have a high potential of reducing pollution and focus on energy, food and agriculture, production, buildings and mobility sectors.
Ignitis Group’s Sandbox programme facilitates partnership opportunities for companies that are creating energy smart solutions. We provide them with the necessary data, consultations and access to a unique infrastructure for testing and demonstrating the solutions they are developing or have already developed. Our specialists are helping them test and develop innovative solutions.
We are actively investing in start-ups that are creating energy solutions. By partnering with investment fund managers and developers of advanced technologies, we are contributing to the development of innovative energy ecosystem. Ignitis Group has invested into two green-tech venture capital funds: IISUTIB Smart Energy Fund powered by Ignitis Group, managed by Contrarian Ventures, and World Fund.
We foster a culture of innovations and encourage everyone to learn about the energy sector, innovations and discover themselves in the energy sector. Invite experts of Ignitis Group to your school, university or conference and learn more about the future of the energy sector.
We are partnering with the energy innovation leaders in the region, universities, clusters, associations and are open to new partnerships. Ignitis Group strives to be active contribute to scientific research and the development of energy-related technologies in the Baltic region while following the EU programmes, including Horizon 2020, etc.