What we do
Coronavirus pandemic: The EIB Group’s initiatives to address the economic consequences of the crisis
Equity products
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
VentureEU
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
COSME - Loan Guarantee Facility
InnovFin SME Guarantee Facility
Documentary Finance Facility – Bulgaria
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Asset Management Umbrella Fund (AMUF)
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
EaSI Funded Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
German Corona Matching Facility (CMF)
Portugal Growth programme
Croatian Growth Investment Programme (CROGIP)
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
EstFund
FOSTER TPE-PME Occitanie
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
JEREMIE
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund (LFF)
Mezzanine 'Fund of Fund' for Germany (MDD)
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
EAFRD FoF Greece

How EFSI benefits SMEs in Europe - Swedbank case study: Energus (Lithuania), energy

image

“We need to take care of our planet as much as we take care of our children, because the health of our children depends on how we consume this planet,” says Povilas Sidlauskas, founder and CEO of Energus.

In 2011, when Lithuania’s nuclear power plant began the process of de-commissioning, and the supply of electricity dropped, prices went up dramatically. “This was the perfect time to present the Lithuanian market with intelligent energy solutions that are cheap, safe and environmentally friendly,” says Povilas. Energus, the company he set up, provides intelligent energy efficiency services for large buildings, like shopping centres or supermarkets, covering the entire spectrum of activity, “from idea to results”. Energus will offer consulting services, design and install energy management systems and offer support services to ensure optimal results as well.

“We love our company and we love what we do because we are able to contribute to nature whilst helping other businesses make money,” adds Povilas. “At the end of the day, it’s all about having an impact on society, learning how to reduce our consumption of energy and make it more efficient.”

“We are an ambitious and young team, (average age: 32) and we don’t give up easily. We know what our goal is – to become the leading company in energy efficiency in Lithuania and export our technology abroad,” explains Povilas. Energus is currently active mainly in Lithuania, but also Belarus and has recently started to work in Latvia and Sweden too.

As the company has grown from 5 persons in 2011 to 120 in 2018, Energus has had to rely on financing solutions in order to support this growth. “With more large projects in the pipeline, we need to build up our inventory. For example, we need to buy lots of material, like cables, then install them and manage the system. This creates pressure on our cashflow,” Povilas explains. In order to finance this scale-up operation, Energus received an EU-guaranteed loan from Swedbank, backed by the EIF under the EU’s Investment Plan for Europe. “Since we started to work with Swedbank, we’ve grown from about 60 to 120 employees.”

Looking ahead, Energus commitment to energy efficiency is expanding, as the company branches out into adjacent fields, working most recently on new projects like the development of smart lithium-ion batteries, and improving the recycling process by developing automated technological devices that recognise and separate the different waste according to their shape and material. “We also want to develop solutions that allow a building to function independently, off the electricity grid.”

Company: Swedbank (Lithuania)

Type of business: Energy

EIF financing:  COSME LGF,  EFSI

Financial intermediary: Energus

For further information about EIF intermediaries in Lithuania please refer to: http://www.eif.org/what_we_do/where/lt

 

We use cookies to give the best browser experience on our website. or change cookie settings.

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.

 
 

Copyright ©

 European Investment Fund 2020 – The European Investment Fund is not responsible for the content of external internet sites.