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To explore forms of collaboration where European Hydrogen Valleys can support Latvia’s potential in renewable 'green' energy, the first Latvian Hydrogen Forum and “Tech Tour” investment conference took place, bringing together 200 participants—startups, investors, and national and municipal decision-makers.
The forum is a unique opportunity for Latvian entrepreneurs to familiarize themselves with European hydrogen initiatives already being implemented, and it offers startups the chance to meet potential investors. "A great way to put Latvia on the hydrogen map by showcasing Latvian entrepreneurs' potential to international investors. For several years now, Riga has been the only city in the Baltics with hydrogen refueling stations, and hydrogen electric trolleybuses are already in operation on its streets. Several startups in Latvia have successfully attracted investments using similar events," emphasizes Ģirts Greiškalns, Chairman of the Board of the Latvian Hydrogen Association.
Compared to neighboring Baltic countries, which have defined specific regions as hydrogen valleys, all of Latvia can be considered one large hydrogen valley. This is because there has been no specific focus on a particular city, keeping opportunities open for all entrepreneurs, says Minister of Economics Viktors Valainis.
"Latvia has great potential to produce hydrogen and its derivatives using renewable energy resources. This is a crucial direction to achieve our goal of making Latvia’s economy more productive and export-oriented. Although the hydrogen economy is still in its early stages here, we can already predict that Latvian companies could become key players in the hydrogen field on a European scale. The Ministry of Economics is currently developing the National Zero Emissions Technology Strategy, which aims to promote the production and export of green hydrogen and its chemical derivatives, as well as support port infrastructure and other hydrogen ecosystem-related manufacturing," emphasizes the Minister of Economics.
In recent years, the energy sector has seen rapid growth, accounting for nearly a third of global investments, highlighting its enormous potential. For Latvia, this ‘investment wave’ in the energy sector presents a unique opportunity to establish itself as a leading player in the global energy landscape. Hydrogen is an excellent example of a growth technology that can provide an opportunity for Latvia. The Latvian Investment and Development Agency, in collaboration with Estonia, is advancing the offshore wind project ELWIND, showcasing the joint commitment of two EU member states to use renewable energy resources, particularly offshore wind energy.
"ELWIND is a joint Latvian-Estonian project, with the primary goal of developing offshore wind farms in the Baltic Sea to enhance regional energy security and reduce dependence on fossil fuels. The project will promote the transition to green energy, helping to meet the EU’s climate goals and strengthen local industries and technology development," explains Laura Štrovalde, Deputy Director of the Latvian Investment and Development Agency for Investment and Energy Affairs.
Arnis Gulbis, Director of Riga’s Digital Agency, states: "Riga's Digital Agency is actively working on digital innovations, and we want to evaluate how the municipality can provide the digital infrastructure and innovative solutions needed to support the development of the hydrogen economy, not only in Riga but across Europe. One solution would be the creation of a digital twin, which would allow us to model and optimize hydrogen-based solutions to create a greener and more sustainable future. The TechTour Hydrogen Valleys Investment Forum 2024 is an excellent opportunity to exchange ideas and collaboratively advance projects that will shape our future."
Could Latvia become a symbolic sandbox for hydrogen research projects that would later scale and spread globally? Aivars Starikovs, a board member of Hydrogen Europe, explains: "Hydrogen Europe currently has around 600 members, proving that the hydrogen sector is not a new industry, but the key today is to change our approach. The first step, led by LIAA, is supporting ideas and initial research. The next step is finding a platform for testing these ideas, and for that, a startup ecosystem is needed, like TechTour, which allows startups to meet with investors. Next, a city is needed to test these ideas—this sandbox. Trains, locomotives, buses, boats powered by hydrogen—all of this is possible with the skills available in Latvia."
One of Latvia's hydrogen supporters, the company “PKN Orlen,” emphasizes that participating in the European Hydrogen Valleys Investment Forum aligns with the company's commitment to energy diversification and sustainable development. "As the largest fuel supplier in the Baltic region, we recognize how important it is to maintain competitiveness while developing the hydrogen economy. Hydrogen will play a crucial role in Europe’s energy transition, and through innovation and strategic investments, 'Orlen' aims to strengthen its leadership position, ensuring that Europe remains at the forefront of global energy. This forum provides a vital platform for collaboration with key stakeholders to drive these goals forward," says Grzegorz Jóźwiak, Director of the Hydrogen and Synthetic Fuels Department at PKN Orlen.
The Latvian Hydrogen Forum and European Hydrogen Valleys “Tech Tour” Investment Conference in Latvia is organized in collaboration with the Latvian Hydrogen Association, the Latvian Investment and Development Agency, the Riga City Council, and the Embassy of the Netherlands in Latvia.