Riga, a frontrunner in Baltic hydrogen infrastructure, hosted the International Tech Tour European Hydrogen Valleys Investment Forum from 5 to 6 September. This forum united start-ups, investors, and policymakers to explore opportunities and collaborative approaches aimed at advancing Latvia’s potential in green energy.
The conference was coordinated by the Riga Digital Agency, which is actively involved in advancing the city’s digital infrastructure and innovation solutions. Arnis Gulbis, Director of the Agency, emphasized that digital twin technology could be a key tool for modelling and optimizing hydrogen-based solutions, fostering the development of a greener and more sustainable future. “The TechTour Hydrogen Valleys Investment Forum 2024 provided a unique opportunity to exchange ideas and collaborate on projects that will shape our future,” Gulbis remarked.
Forum participants also underscored Riga’s and Latvia’s pivotal role in advancing hydrogen technologies. Ģirts Greiškalns, Chairman of the Latvian Hydrogen Association, stated: “This is a powerful way to place Latvia on the hydrogen map, showcasing our potential to international investors. Hydrogen filling stations are already operational in Riga, and hydrogen-electric trolleybuses are now a daily reality. We have the opportunity to become leaders in this sector.”
Unlike neighbouring Baltic countries, which have designated areas to serve the role of hydrogen valleys, Latvia can be seen as a single, expansive hydrogen valley. According to Viktors Valainis, the Minister of Economics, this approach avoids concentrating technology development in any particular city or area, thereby remaining open to all entrepreneurs.
“Latvia holds significant potential for producing hydrogen and its derivative compounds using renewable energy resources. This is a crucial step towards enhancing the productivity and export capabilities of the Latvian economy. Although the hydrogen economy is still in its early stages, it is already foreseeable that Latvian companies could emerge as key players in the hydrogen sector on European scale. The Ministry of Economics is currently developing the National Zero Emission Technology Strategy. This strategy aims to boost both the production and export of green hydrogen and its chemical derivatives, as well as to support port infrastructure and other hydrogen-related industries,” emphasised the Minister of Economics.
The energy sector has seen rapid growth in recent years, accounting for nearly a third of global investment, highlighting its immense potential. For Latvia, the “investment wave” in this sector represents a unique opportunity to become a leading player on the global energy stage. Hydrogen serves as a prime example of how emerging technologies can present significant opportunities for Latvia. The Investment and Development Agency of Latvia (LIDA), through its collaboration with Estonia on the offshore wind project ELWIND, exemplifies the joint efforts of two European Union countries committed to harnessing renewable energy resources, particularly offshore wind energy.
“ELWIND is a collaborative Latvian-Estonian project aimed at developing offshore wind farms in the Baltic Sea to enhance regional electricity supply security and reduce reliance on fossil fuels. The project’s implementation will advance the transition to green energy, support the European Union’s climate goals, and bolster local industry and technological development,” explains Laura Štrovalde, Deputy Director at the Investment and Development Agency of Latvia.
Can Latvia become a symbolic sandbox for hydrogen research projects, which could then be scaled and distributed globally? Aivars Starikovs, Board Member of Hydrogen Europe, suggests: “Currently, the European Hydrogen Association has around 600 members, which underscores that hydrogen is not a nascent industry. However, the approach needs to evolve. The first step that LIDA is taking involves supporting innovative ideas, their feasibility studies. The next step is to provide an environment, a platform like TechTour, where start-ups can connect with investors to test and scale their ideas. Next, you need a city where you can test the idea or a so-called sandbox. Trains, locomotives, buses, and boats powered by hydrogen are all feasible with the expertise available in Latvia.
One of the companies supporting Latvian Hydrogen Association is the company “PKN Orlen”, which highlights that their involvement in the European Hydrogen Valley Investment Forum aligns with the company’s commitment to energy diversification and sustainable development. “As the largest fuel supplier in the Baltic region, we recognise the importance of maintaining competitiveness while advancing the hydrogen economy. Hydrogen will play a crucial role in Europe’s energy transition, and through innovation and strategic investment, Orlen aims to bolster its leading position while ensuring that Europe remains at the forefront of global energy. This forum offers a vital platform for collaboration with key stakeholders to advance these objectives,” says Grzegorz Jóźwiak, Director of the Hydrogen and Synthetic Fuels Division at PKN Orlen.
The Latvian Hydrogen and the European Hydrogen Valleys TechTour investment forum in Latvia is organised in partnership with the Latvian Hydrogen Association, the Investment and Development Agency of Latvia, the Riga City Council, and the Embassy of the Netherlands in Latvia.
Information was prepared by: Department of External Communication of the Riga City Council, e-mail: mediji@riga.lv