Eesti Energia AS - Company Profile
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Business Description
Eesti Energia AS (Eesti Energia) an energy company, operates in the electricity, gas, and international liquid fuels market. It sells electricity to the customers in the Baltic countries and in the energy wholesale market. It has operations in Estonia, Poland, Lithuania, Latvia, Singapore, Switzerland, France, Nordic countries, Netherlands, Denmark, United Kingdom, United Arab Emirates, and other countries. The company operates through five reportable business segments, Renewable energy and electricity sales, Distribution Service, Non-renewable electricity production, Shale Oil and Other.
R&D Overview
Eesti Energia research and development activities in 2024 focused on supporting the implementation of the Group's business strategy, which aims to provide customers with environmentally friendly, convenient, and useful energy solutions. The company seeking innovative solutions to reduce the environmental footprint of energy production, build a circular chemical industry, develop higher value products, and provide more useful services to customers. Key projects included the design of the first phase of a chemical industry at Enefit Power's industrial site in Auvere, applied research on the Enefit pyrolysis process, and preparations for industrial trials of pyrolysis of plastic waste. Additionally, the company participated in the pan-European INCIT-EV project, installing fast chargers for electric cars to test grid balancing capabilities. Eesti Energia also launched a global data science competition on Kaggle to improve consumption forecasting models, attracting 2,700 teams. The company set up a cooperation and investment unit focused on innovation, which creates opportunities for companies developing green technologies and investment funds in Europe. This unit engages strategically with the industry's innovation drivers and acts as a strategic partner to accelerate the development and commercialization of new technologies. In FY2024, the company invested EUR9.6 million into Research and Development, which as a percentage of the company’s revenue stood at 0.5%. The main R&D partners of Eesti Energia include Tallinn University of Technology and its Virumaa College, the University of Tartu, the machine learning and data science company STACC, and the Finnish National Technical Research Center VTT. These partners collaborate with the company in fields such as energy technology, renewable energy, data science, and petrochemistry to support the company's R&D activities. In FY2023, the company invested EUR12.76 million into Research and Development, which as a percentage of the company’s revenue stood at 0.6% and increased by 7.2% YoY.
Business Segments
- Distribution Service
- Other
- Renewable energy and electricity sales
- Shale Oil
- Non-renewable electricity production
Overview
Includes sale of electricity distribution network services on the regulated market and additional services by Elektrilevi. Key services include high-speed internet, street lighting and electric vehicle infrastructure management.
Performance
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Overview
Includes production and sale of heat, construction of power engineering equipment and services, and sale of old metal, mining products, gas, other products, and services. Serves both corporate and household customers.
Performance
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Overview
Generates electricity from renewable and non-renewable sources and trades in and sells electricity.
Performance
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Overview
Produces and sells liquid fuels. It also develops and sells related technology to produce liquid fuel from oil shale. Key customers of shale oil include heat producers, energy and chemical industry businesses, road builders, agricultural producers and production businesses, producers and sellers of marine fuels, international businesses, global oil traders and refiners of crude oil.
Performance
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Performance
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Geographical Segments
- Denmark
- Estonia
- France
- Latvia
- Lithuania
- Netherlands
- Nordic countries
- Other countries
- Poland
- Singapore
- Switzerland
- United Kingdom
Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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