Author: ecobalt

The largest environmental and waste management group’s in the Baltics – AS “Eco Baltia” – board announces that the next shareholders’ meeting will be held on 12 January 2023.

Agenda of the shareholder’s meeting includes the possible emission of bonds by Eco Baltia.

At the moment, all the necessary procedures and documentation is being prepared to be able to issue Eco Baltia bonds in the first months next year. The funds raised in the bond issue are planned to be used for future development projects.

Shareholders of Eco Baltia are INVL Baltic Sea Growth Fund through UAB “BSGF Salvus” (52.81%), the European Bank for the Reconstruction and Development (30.51%) and the management of the company (16.68%).

The Baltic leading environmental management company LLC (SIA) “Eco Baltia vide”, which is part of the “Eco Baltia” group, has signed a memorandum for enhancement of cooperation in the field of development of hydrogen technologies in Latvia. Purpose of the memorandum is to promote a strong and unified development of hydrogen ecosystem and the relevant technologies, as well as to expedite implementation and capacity of hydrogen innovations, infrastructure, production and application in Latvia.

“Development of hydrogen technologies plays major role in the European Green Deal and achievement of climate neutrality goals. Necessity for the development of hydrogen technologies is further consolidated by the crisis of energy resource in Europe which has made everybody step up looking for and using alternative energy resources. As the Baltic leading environmental management company focusing on waste recycling instead of burying in landfill sites, we are already conducting research works on our part to be able to use the non-recyclable waste for gasification and later extracting also hydrogen to power our fleet. There is still a lot to do, but the memorandum marks specific steps to achieve faster and more purposeful development of these technologies in Latvia”, explains Mr Jānis Aizbalts, Chairman of the Board at the LLC (SIA) “Eco Baltia vide”.

Hydrogen is considered one of the possible global ways of decarbonisation with a huge growth potential.

Memorandum, signed along with the LLC (SIA) “Eco Baltia vide” also by more than 20 various organisations, provides for an establishment of consortium for hydrogen technology development. Purpose of the memorandum is to promote strong and unified development of hydrogen ecosystem and the relevant technologies, as well as to expedite implementation and capacity of hydrogen innovations, infrastructure, production and application in Latvia, providing an opportunity for the field of hydrogen to evolve according to the goals set by the European Union, thus both contributing to the national economy of Latvia and enhancing achievements of the climate goals.  

Furthermore establishment of the Latvian Hydrogen Alliance is planned to unify players of the sector and the related parties in a single platform for information exchange, communication, project and cooperation development both nationally and internationally.  Besides, hydrogen roadmap of Latvia for the period until the middle of 2023 and hydrogen strategy for the period until the end of 2023 will be developed.

Memorandum on the development of hydrogen technologies will be signed at the forum “5G Techritory 2022” at the beginning of December.

The Board of AS Eco Baltia, the largest environmental and waste management group in the Baltics, will further operate in the composition of three individuals. As of 11 November, this year, Anita Saulīte will cease her work in the Board of AS Eco Baltia and several group subsidiaries. After 10 years in the group companies, she accepted new professional challenges.

The Supervisory Board ofAS Eco Baltia has taken a decision that a new board member is not to be sought at the moment, thus, the current Board will continue its work composed of three individuals. Chairman of the Board is Mr Māris Simanovičs, Board Members – Ms Santa Spūle, Chief Financial Officer, and Ms Sigita Namatēva, Chief Legal Officer.

 “On behalf of all the colleagues at AS Eco Baltia we say many thanks to Anita for her long-time contribution to the company’s operational management, efficiency improvement, digitalisation of processes and arrangement of IT systems, as well as strengthening of LEAN culture. Working closely as a team, we have achieved high business results and created strong foundations which enable us to convincingly keep building further growth of the group companies, thus promoting sustainable and efficient business model. We wish Anita success in further professional growth, which goes along with her high degree of professionalism, enthusiasm, energy and creation of values in everything she does”, says M. Simanovičs.

So far, A. Saulīte was an official also in several other AS Eco Baltia subsidiaries such as SIA Nordic Plast and AS Latvijas Zaļais punkts. Composition of officials at these companies will also change gradually according to the further decisions by the Supervisory Board.

Shareholders of AS Eco Baltia are UAB BSGF Salvus, subsidiary of INVL Baltic Sea Growth Fund (52.81%), EBRD (30.51%) and the company management (16.68%).

AS Eco Baltia is the largest environmental and waste management group  in the Baltics in terms of turnover ensuring full waste management circle from waste collection and sorting to secondary logistics, wholesale and recycling of raw materials.

In 2021, combined (pro-forma) sales of Eco Baltia group reached approximately 150 million euro, which was two times higher than in 2020, when this indicator was 75 million euro. This was partially enhanced by the acquisition of the leading Lithuanian waste manager Ecoservice in August 2021. In September 2022, the group expanded further, with its PET recycling arm AS PET Baltija, one of the largest PET recyclers in Northern Europe, completing the acquisition of a leading Czech fibre producer TESIL Fibres.

The group companies employ more than 2,200 employees in Latvia, Lithuania, and Czech Republic. Its leading companies are AS PET Baltija, SIA Eco Baltia vide, AS Latvijas Zaļais punkts, SIA Nordic Plast, Sigulda municipal SIA JUMIS, Czech TESIL Fibres and Lithuania-based UAB Ecoservice.