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ESI’s student innovation program in cooperation with partners – “Rimi Baltic”, “SEB banka” and AS “Eco Baltia” – invites high school and university students to participate in the Sustainability Challenge from March 18 to 26 to create unique ideas for solving various challenges related to energy and waste issues.

The Sustainability Challenge is a hackathon-type competition in which, through various tasks, mentoring classes and other activities, participants will have to develop creative solutions to various issues related to energy production and use, waste reduction and proper management. High school and university students (at any level of higher education, in any specialty) can participate in the competition. Also, other interested parties who are motivated to offer solutions to sustainability issues are also invited to submit their ideas. It is possible to participate in the competition with an existing idea, as well as create it from scratch.

Challenge activities will be implemented in three phases. On March 18, there will be an opening event with a team and idea generation, so that each participant can get an accurate insight into the challenges, formulate their idea, create a team and present it. In the period from March 20 to 24, there will be online mentoring sessions, work in teams and face-to-face tours of companies representing the industry, where participants can get ideas for project development. On March 25 and 26, participants will meet with industry experts and relevant mentors for the development of the project, who will help to develop their idea more successfully, the event will take place on the premises of “Rimi Baltic” in Riga. On the last day of the challenge, the teams will present their solutions, which will be judged by a project jury made up of project partners. All activities will be held in English.

The partners of the challenge – “Rimi Baltic,” “SEB banka” and AS “Eco Baltia” – have prepared several topics for the creation of ideas based on real problem situations observed in the company’s operation and society. An insight into the challenges prepared by our partners:

– AS “Eco Baltia” offers challenges in two areas related to circular economy in Latvia – promotion of sorting, recycling and recirculation of textile products, as well as recycling of used electronic devices.

Jānis Aizbalts, head of the environmental management sector of AS “Eco Baltia” and chairman of the board of SIA “Eco Baltia vide”: “The circular economy is not new in Latvia either, but it should be moved faster on a national scale. As our experience in cooperation with young people and their representative organizations and educational institutions shows, pupils and students are the generation whose ideas are invaluable in implementing sustainability projects. We invite you to be active, participate in the challenge and make Latvia even greener, where waste is not a big mountain, but a resource to be used in the circulation of the market.”

– The challenge prepared by “SEB banka” is related to the energy efficiency of buildings – the teams will be invited to find solutions that would help to significantly increase the proportion of renovated apartment buildings in Latvia, as well as the number of homes that undergo regular energy audits.

Viktors Toropovs, head of Sustainability Development: “Increasing the energy efficiency of existing housing plays an essential role in achieving the set goals of climate neutrality in Latvia by 2050. In addition to the creation of an appropriate state policy, the availability of funding and the decision-making of citizens, it is also important to find digital solutions and new products to promote the development of the field. The energy efficiency of houses helps not only to reduce the consumption of energy resources and improve the climate in the apartment but also to create an attractive environment in general, so everyone benefits.”

– Rimi Baltic has prepared challenges that invite to find solutions on how to reduce the use of plastic and reduce food waste.

Zanda Šadre, “Rimi Baltic” Corporate Responsibility and Communication Director: “Responsibility towards the environment is one of our top focus areas, therefore we are constantly searching for new solutions. On top of that, reduction of food waste and plastic use not only helps the environment, but it can also lead to cost savings for the customer, which is a great win-win in both aspects. We encourage teams to think from this perspective, and we believe that it will definitely bring results,” says.

Teams of competition participants will compete for valuable prizes. The first place will be awarded 3000 EUR, the second place – 2000 EUR, the third place – 1000 EUR, as well as partner prizes will be raffled off, which will help the participants to continue working on the development of ideas. The winners will be announced on March 26.

Registration and detailed info about challenges and the event itself can be found on the event website: www.challenge.esi-startup.lv/

The ESI Sustainability Challenge is supported by the ESI Student Innovation Program of the Stockholm School School of Economics in Riga, “RIMI Baltic”, “SEB banka”, AS “Eco Baltia” and the European Regional Fund. Project number: 1.1.1. 3./21/A/008.a. The event is supported by ESI program partner organisations: Art Academy of Latvia (LMA), Rezekne Academy of Technologies (RTA), Riga Graduate School of Law (RGSL), Civitta, TechHub, Riga TechGirls, LSUA, LETERA, LU CFI.

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AS Eco Baltia, the largest environmental and waste management group in the Baltics, invites to join the webinar about company’s inaugural 3-year bond issue public offering. Webinar will take place on February 7 at 2pm. The webinar will be open to all registrees signed up through the link below.

Webinar will be hosted by the Chairman of the Management Board Māris Simanovičs and Member of the Management Board and CFO Santa Spūle. Additional information about the upcoming bond offering will be provided by Gints Belēvičs, the Head of Markets Customers in Luminor Bank, the Sole Lead Manager of the transaction. During the webinar attendees will be introduced with Eco Baltia’s business segments, growth story, its development plans, as well as the details of the public bond offering.

To sign up for the webinar, please use the following link: https://nasdaq.zoom.us/webinar/register/WN_l8ws-NSWSzGAp_POsa_-lQ. After filling in the application, attendees will receive a link to the webinar and instructions to their e-mail. When connecting to the Zoom webinar for the first time, you will be asked to download the app.

Webinar will be held in English. After the presentation, a question and answer session will take place. Attendees are welcome to send their questions about the company until February 6 to the e-mail ieva.unda@nasdaq.com or submit them through the registration link below.

“Eco Baltia” in its inaugural bond issue seeks to issue up to 8 million EUR of unsecured fixed-rate bonds. The maturity of the bonds is set at 3 years. Interest rate (coupon) of the bonds will be fixed for the whole period and will be set within the range of 8% to 9% upon expiration of the subscription period. Subscription period will end on the 10^th of February. The bonds may be subscribed by qualified investors and retail investors. Nominal value of each bond is 1,000 EUR. Minimum subscription amount for one investor is set at 10 bond units, or 10,000 EUR. Application will be made for listing the bonds at Nasdaq Riga alternative market First North within 6 months upon issue.

All information about the bond issue and subscription process is provided in the Offering Document and Final Terms which can be found on Eco Baltia’s website www.ecobaltia.lv section “Investors”.

The financing raised in the bond issue is intended to be used for future development projects of Eco Baltia aimed to support further expansion at the European level and promote circular economy.

The information contained in this announcement does not constitute investment advice nor a proposal. The information in this announcement contains generic forward-looking statements and the intention of Eco Baltia to undertake a public offering. Any investment decision shall be made subject to the offering document, which is available at the Company’s website www.ecobaltia.lvsection “Investors”.

The largest environmental and waste management group in the Baltics AS Eco Baltia is entering the bond market and seeks to issue up to 8 million EUR of unsecured fixed-rate bonds.

The maturity of the bonds is set at 3 years, with an option for the issuer to call the bonds after 2 years. Interest rate (coupon) of the bonds will be fixed for the whole period and will be set within the range of 8% to 9% upon expiration of the subscription period. Subscription period will start on the 2^nd of February and will end on the 10^th of February.

The bonds may be subscribed by qualified investors and retail investors, who will be able to purchase up to 8,000 bond units in total with a 1,000 EUR nominal value of each bond. Minimum subscription amount for one investor is set at 10 bond units, or 10,000 EUR.

The financing raised in the bond issue is intended to be used for future development projects of Eco Baltia aimed to support further expansion at the European level and promote circular economy.

In order to subscribe to the bonds, a retail investor in Latvia or Lithuania must have a securities account with a financial institution that is a member of Nasdaq Riga or has relevant arrangements with a member of Nasdaq Riga. Qualified investors may subscribe the bonds through the arranger – Luminor Bank – or through any other financial institution which is participant of Nasdaq CSD and participates in Nasdaq CSD Latvian Securities Settlement System or has indirect access to Nasdaq CSD Latvian Securities Settlement System.

General investor call with issuer investor presentation and Q&A session will be organized on 7 February at 2pm (EET). Investors can register to the webinar here: https://nasdaq.zoom.us/webinar/register/WN_l8ws-NSWSzGAp_POsa_-lQ. After filling in the application form, attendees will receive a link to the webinar and instructions to their e-mail.

“We are prepared to take the next step and attract financing in the capital market, confirming Eco Baltia’s growth story, development perspective and profitability to the investors. We are the only company in the Baltics, which provides full cycle of waste management. Our uniqueness is supported by strong business results, persuasive strategy and growing market in the Europe and abroad,” says Māris Simanovičs, Chairman of the Management Board at Eco Baltia.

“This bond issue will allow Eco Baltia to continue on its successful path of strengthening its contribution towards circular economy promotion and implement further strategic initiatives,” says Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund and Chairman of the Supervisory Board of Eco Baltia.

Application will be made for listing the bonds at Nasdaq Riga alternative market First North within 6 months upon issue.

One of the leading financial service providers in the Baltic States – Luminor Bank – is mandated as a Sole Lead Manager of the transaction, together with Šiaulių bankas acting as Co-Manager and Dealer. Transaction legal counsel and Certified Adviser is law firm TGS Baltic, and trustee – law firm Eversheds Sutherland Bitāns.

All information about the bond issue and subscription process is provided in the Offering Document and Final Terms which can be found on Eco Baltia’s website www.ecobaltia.lv section “Investors”.

Important Notice

The contents of this announcement have been prepared by and are the sole responsibility of the Company. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

This announcement is not an offer to sell nor a solicitation to buy any securities in any jurisdiction nor a prospectus for the purposes of the Prospectus Regulation. Any subscription or purchase of securities referred to in this announcement should be made solely on the basis of the information contained in the Offering Document. The information in this announcement is subject to change. Before subscribing for or purchasing any securities, persons viewing this announcement should ensure they fully understand and accept the risks which are set out in the Offering Document. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.

Offering Document is available at the Company’s website www.ecobaltia.lv section “Investors” and copies of the Offering Document are available from the Company’s registered office. This announcement does not constitute a recommendation concerning a possible offer. Persons considering making investments should consult their financial and other advisors as to the suitability of a possible offer for the person concerned.