On September 4, the European Hydrogen Valleys Investment Forum was opened in the Great Hall of the University of Latvia (LU), which is taking place for the second year and brought together more than 280 industry experts, entrepreneurs, scientists and investors from all over Europe in Riga. The forum was opened by the Minister of Economics Viktors Valainis, the Mayor of Riga Viesturs Kleinbergs and the Director of the Investment and Development Agency of Latvia (LIAA) Ieva Jāgere, emphasizing Latvia's determination not only to use hydrogen technologies, but also to actively participate in the value chains of this sector, implementing projects that promote the wider use of green energy in Europe and the world.
Opening the forum, the Minister of Economics Viktors Valainis emphasized that green energy remains a priority for Latvia and we have every opportunity to become a Baltic leader in the development of hydrogen technologies. Our geographical location, port, wind and solar energy potential, as well as a strong research base allow us to create the prerequisites for green hydrogen to become the basis for the development of new industries”.
Strategic platform for investments and innovations
The two-day forum will discuss the creation of hydrogen valleys, attracting investments and building international partnerships. According to the EU initiative Clean Hydrogen Partnership, more than 100 hydrogen valley projects are already operating in the world, which confirms the ability of this sector to strengthen energy independence. “Hydrogen technology is already 130 years old and it is time to learn how to use it. For this to happen, closer cooperation with universities and scientific institutions is necessary, which are currently investing large resources in increasing the efficiency of hydrogen technologies,” emphasized UL Rector Gundars Bērziņš, confirming that one of the directions the university is currently working on is reducing the costs of hydrogen production.
Startups and the Latvian example
One of the guiding principles of the forum is the development of innovations and cooperation with start-ups. 32 start-ups were selected for the forum, 8 of which represent Latvia. These companies will present their solutions to more than 40 international investors and corporate partners. This allows Latvia to strengthen its position in the European hydrogen ecosystem alongside leading countries. Among the most striking examples from Latvia in this area, we can mention companies such as “Norsaf”, which is developing advanced hydrogen technologies and developing the production of green aviation fuel in Liepāja. Meanwhile, Naco Technologies, which has created an innovation center with the world's greenest nano-coatings for the hydrogen industry. These projects demonstrate Latvia’s ability to compete on a global level. In addition to the aforementioned, technology startups such as HySol, AI Cooperation, Catalyco, CHTC, LumiSense and others will also present their ideas to investors.
“The hydrogen industry is becoming one of the cornerstones of European energy, and this forum is an opportunity for Latvia to show its strengths, attract new investments and build partnerships that will strengthen our competitiveness in the future. We see how we are moving from ideas on paper to real initiatives. One of the most striking examples is the sustainable aviation fuel production plant planned by the company NorSAF in Liepāja. This proves that Latvia is capable of being a regional leader in the field of green technologies,” says LIAA Director Ieva Jāgere.
A European-wide initiative
The Hydrogen Valleys Investment Forum is organized in cooperation with the Latvian Hydrogen Association, the University of Latvia and LIAA, as well as financed from the European Union’s Recovery and Resilience Mechanism. The event is part of the European Hydrogen Valleys Initiative, which purposefully develops regional green hydrogen clusters.
The active participation of Latvian companies in this initiative confirms our potential to become a strategic link in the European hydrogen value chain – from renewable energy production to technological solutions and exports.
The event is organized by "Tech Tour" in cooperation with the Latvian Hydrogen Association, the Latvian Investment and Development Agency, the University of Latvia and other industry partners.
The event is funded by the ERDF projects "Development of Innovative Entrepreneurship in SMEs" and "Support for the improvement of the technology transfer system", European Recovery Fund and state budget.
About LIAA
LIAA promotes the competitiveness of Latvian entrepreneurs, export growth and investment attraction, as well as develops the tourism industry and implements the state image policy. The agency acts as a state partner in business development - from idea to international markets. With an extensive network of representative offices abroad and regional business centers in Latvia, LIAA helps companies grow and positions Latvia as a safe, innovative and open country in the global economy.
