Lietuvos Energija (LE) is a group of energy companies operating in the Baltic States and Poland. The group’s activities span the energy value chain, ranging from power generation, trade and supply, to the management of electricity and gas distribution systems, ESCOs and more.
Here at LE, we consider ourselves a key player in the EnergyTech ecosystem and we actively promote open and collaborative innovation. Innovation is all about speed and flexibility. That’s why we aim to create the most agile EnergyTech ecosystem possible based on principles of open innovation. LE has introduced multiple ways for collaborating with external partners, as detailed below. That includes partnering with startups, other utility companies, science centers, universities and other companies that are active in developing new technologies. The four pillars of our open-innovation ecosystem are:
LE has launched the first corporate venture capital fund in the Baltics – the “Smart Energy Fund powered by Lietuvos Energija”. The fund, along with an energy startup accelerator, is run by our partner, Contrarian Ventures, and promotes EnergyTech innovation. The fund invests in early-stage energy start-ups. It seeks to leverageLE’s people, know-how and infrastructure to support innovation and early-adoption of products developed by ambitious technology companies.
Our unique sandbox program gives external companies access to the LE group’s infrastructure and data free of charge in order to test innovative solutions. Utilizing the existing infrastructure, equipment can be tested under real-life conditions. This is ideal for companies looking to do a proof of concept or showcase their technology to our energy community. LE’s own experts advise participants and assist them with installing equipment.
LE is pursuing partnerships with other utility companies and with R&D institutions (universities, research centres, consulting companies and so on). In terms of utility partnerships, LE aims to share know-how with other willing utilities on aspects of innovation like piloting, R&D results, lessons learned and so on. In terms of R&D, LE is seeking collaborative project opportunities.
Organizations are all about people. Through our Open Culture approach, we seek to put our employees in direct contact with all those who have passion and ideas for advances in the area of energy technology. We believe that bringing the LE community’s technical and business knowledge together with new ideas from outside is a perfect recipe for innovation. Open Culture initiatives take the form of open hackathons and other ideation events that all are welcome to join.