NordenBladet – Skeleton Technologies, an Estonian company that specializes in the production of supercapacitors, is building a new factory in Leipzig, Germany. The factory is set to be larger than the company’s current production facility in Dresden and will significantly increase production capacity.
The German government and the state of Saxony are providing over 50 million euros to support the construction of the new factory. The investment is part of Germany’s efforts to achieve its green revolution goals and reduce dependence on Asia and America. The new factory will enable Skeleton Technologies to produce up to 12 million supercapacitors and superbatteries per year and reduce production costs.
The company has recently signed agreements with major companies such as Shell, Honda, Siemens, and CAF, which has increased its demand for production. Skeleton Technologies’ development unit is located in Tallinn, Estonia.
Source: NordenBladet.ee Featured image: Taavi Madiberk (Skeleton Technologies)
NordenBladet – The Reform Party emerged as the clear winner in Estonia’s Riigikogu elections, securing 31.2% of the total votes or 37 mandates. This allows the party to form a coalition of its own choosing.
A total of 615,009 people cast their votes, with 301,495 opting for paper ballots and 313,514 using e-votes. The Estonian Conservative People’s Party (EKRE) obtained 16.1% of the votes, resulting in 17 mandates in the Riigikogu. The Center Party secured 15.3% of the votes and 16 mandates, while Eesti 200, a new entrant, secured 13.3% of the votes and 14 mandates. The Social Democratic Party received 9.3% of the votes, giving them nine mandates in the Riigikogu. Isamaa received 8.2% of the votes or eight mandates.
Parties that did not meet the threshold were the Right Party with a 2.4% vote share, the United Left Party of Estonia with 2.3%, and the Greens with one percent.
Top vote getters:
1. KAJA KALLAS 31821
2. MIHHAIL KÕLVART 14598
3. KRISTEN MICHAL 9207
4. URMAS PAET 9152
5. URMAS KLAAS 8067
6. JÜRI RATAS 7675
7. SIIM KALLAS 7397
8. HANNO PEVKUR 6567
9. URMAS KRUUSE 6235
10. MART HELME 6122
11. LAURI LAATS 5982
12. JÜRGEN LIGI 5799
13. HENN PÕLLUAAS 5780
14. JOHANNA-MARIA LEHTME 5260
15. JAAK MADISON 5218
16. MARTIN HELME 4599
17. MIHHAIL STALNUHHIN 4578
18. SIGNE RIISALO 4524
19. URMAS REINSALU 4509
20. ANNELY AKKERMANN 4384
Sutt explained that the Conference would bring together the representatives of the foreign affairs and defence committees of the Parliaments of the EU countries and the European Parliament to jointly declare their support to Ukraine. “At the moment, Ukraine needs rapid military, economic and political aid from the countries of the West to win the war started by Russia. We have to continue with strict enforcing of the existing sanctions and imposing of new sanctions to weaken Russia. It is also necessary to continue with setting up an international special tribunal,” Sutt said, and added that in order to achieve this, it was vital to keep the unity of the West.
Sutt plans to underline the importance of comprehensive and urgent assistance to Ukraine today at the first session of the Conference, where the passing of a year from the start of Russia’s full-scale war in Ukraine will be marked. On Friday, the Conference will focus on the challenges and opportunities of the EU’s Strategic Compass for Security and Defence, the issues relating to the Arctic, as well as the priorities of the Common Foreign and Security Policy and Common Security and Defence Policy.
The Inter-parliamentary Conference held in Stockholm is s part of the parliamentary dimension of the Swedish Presidency of the Council of the European Union during the first half of 2023.
NordenBladet – Trigon Capital’s owner Joakim Helenius and project management department head Rando Tomingas came up with an idea to replace mineral fertilizers in the field with bacteria and fishmeal in animal feed with insect flour, so they marched into Tartu University’s scientists’ door with the proposal, Delfi reports.
Sille Holm, a young doctoral student, was tasked with working on the idea, and her table is now at Trigon Capital as the Chief Scientific Officer, working on developing new biotechnological agricultural products. Trigon Capital is developing five or six start-ups, with two already on their way to a finished product. The company is aiming to become Estonia’s biggest by revolutionizing the global market with their products that can be used for both animal and human consumption. The company’s focus is on insects, specifically flies, as they can produce high-quality protein and fat for animal feed at a low cost.
The global market potential for these products is expected to be in the hundreds of billions of dollars, with the world population projected to reach almost ten billion by 2050, which will require more sustainable farming methods. The EU has given permission to use insect flour in animal feed, increasing its market potential, with the global market for animal feed projected to grow to $500 billion. However, the challenge is to produce these products on an industrial scale and to find cost-effective and sustainable ways to produce food for insects.
Members of the Estonia-Armenia Parliamentary Friendship Group of the Riigikogu (Parliament of Estonia) are deeply concerned about the continuing blockade of the Lachin corridor. “The Lachin corridor is an important supply line for the local population in the region. The humanitarian crisis in the area is worsening day by day due to frequent energy cuts, lack of electricity and gas. The people are also lacking vital supplies: medicine and medical aid, food, and fuel,” the parliamentary group says in its Statement.
“The blockade continues to have damaging impact on the ongoing peace process between Armenia and Azerbaijan. We are deeply convinced that in order to achieve progress, it is very important to resolve humanitarian issues and ensure freedom and security of movement along the corridor.
We call on parties involved to return to the negotiation table, to contribute to the stability and development in the region,” the members of the Estonia-Armenia Parliamentary Friendship Group write in the Statement.
The statement has been signed by Chairman of the Group Raivo Tamm and members of the Group Mati Raidma, Mihhail Lotman, Tarmo Kruusimäe and Leo Kunnas.
Parliamentary friendship groups help the Members of the Riigikogu communicate with other national parliaments, carry out Estonia’s foreign policy, and promote our country around the world.
For more information, please contact:
Raivo Tamm
Chairman of Estonia-Armenia Parliamentary Friendship Group of the Riigikogu
Phone: +372 631 6556
raivo.tamm@riigikogu.ee
NordenBladet – Forus International, a company owned by Estonian businessman Urmas Sõurumaa, has acquired the Autolevi car-sharing platform, founded by Tauri Kärson, Simo Sulev, and Robert Sarv in 2013. The purchase price has not been disclosed, and the transaction is subject to approval from the Competition Authority.
Autolevi’s sales revenue last year was €109,300, and it employed two people in the last quarter. Based on the last transaction price, the company’s value was €290,000. Funderbeam investors will be paid €0.56 per unit if the deal is approved. Autolevi’s founder and CEO, Tauri Kärson, said the last price of Autolevi’s instrument on Funderbeam was €0.46, which implies a 21% yield compared to the last market price.
Autolevi has 45,000 users in Estonia, Latvia, and Finland and a selection of over 2,200 vehicles, according to its website. In 2022, users rented out their cars worth more than half a million euros through the platform, and this number is increasing steadily. With the help of Autolevi, car owners can earn more than €1,000 of additional income per month by renting out their vehicles, as cars typically sit idle for 90% of the time while owners must pay for leasing and insurance in full each year.
The car rental market in Estonia is underserved, despite having over 600,000 private cars and 630,000 driver’s license holders. By reducing the number of private cars on the streets, shared car services such as Autolevi can help alleviate issues like pollution, traffic congestion, and parking problems. Autolevi wants to make its service available through an app, in addition to its current web-based platform, with the help of Forus International. In 2017, Autolevi was among the top 20 startup companies in Estonia, and its development has been supported by early angel investors and more than 200 Funderbeam supporters.
Featured image: Urmas Sõõrumaa (NordenBladet)
Source: NordenBladet.ee
NordenBladet – Coop Bank (CPA1T.TL), an Estonian stock-listed company, has challenged a consumer protection decision and taken it to court instead of paying out €17 in interest to a customer. Last year, a Coop Bank customer complained to the Consumer Dispute Committee, stating that they had entered into a children’s savings account agreement with the bank. However, after the agreement was terminated and the bank changed the interest rate to be less favourable to the customer, the bank only transferred the principal sum to the customer, but not the accumulated interest of €17.21.
The bank argued to the Consumer Dispute Committee (Tarbijavaidluste komisjon) that, under its standard terms and conditions, the premium interest accumulated on the children’s savings account and the interest calculated on a daily basis during the validity of the agreement were not payable if the customer terminated the agreement before the deadline. However, the bank did not provide any explanation to the committee as to why it had changed the interest rate. This turned out to be harmful to the depositor, as the monthly interest calculated on the same deposit amount was smaller than before.
The Consumer Dispute Committee ruled that the agreement should be fulfilled based on the principles of good faith and reasonableness, taking into account practices and norms. The committee did not accept the unilateral change of essential terms of the agreement, especially regarding the interest rate. According to the committee, the infringement of the rights of the child (on whose behalf the savings account was opened) compared to other depositors is contrary to the principle of good faith and unacceptable.
The committee also pointed out that the deposited money belonged to the depositor (the child), so the debit of the savings account in favour of the bank for €17.21 was done without legal basis and to the detriment of the depositor’s rights. As a result, the committee decided that the customer’s claim should be satisfied.
According to the Consumer Protection Act, parties have the right to go to court if they disagree with a decision. Coop Bank has exercised this right and decided to appeal the decision of the Consumer Dispute Committee. The bank’s communications manager, Katre Tatrik, stated that Coop Bank does not agree with the committee’s conclusions and wants the court to decide on the validity of the disputed term. As a result of the bank’s decision to go to court, it has not paid out interest to the customer, as the decision of the Consumer Dispute Committee has not yet been enforced.
Photo: Excerpt from the promotional video
Source: NordenBladet.ee
NordenBlaadet – The Estonian Ministry of Social Affairs has sent a draft law on confirming the value of the national pension index for 2023 for coordination. The new index value will be 1.139, which means that pensions and daily rates for disability benefits will increase by an average of 13.9% from April 1st, and the average pension will rise to €700, the largest increase in the past 15 years.
“It is clear that the increase in pensions must go hand in hand with wage and cost of living increases, which is why this year’s increase in pensions is the largest in the past 15 years. In addition to the indexing that will take effect from April, pensioners will have more money left over due to the changes in income tax that came into effect at the beginning of the year, as well as a €20 extraordinary pension increase,” said Minister of Social Protection, Signe Riisalo.
For example, a person with 44 years of service will receive a pension of nearly €84.67 higher, which amounts to €700.02, from April 1st. However, the projected increase was €704, but pensions can still be raised based on the collected social tax, which unfortunately turned out to be slightly smaller than originally projected. Nevertheless, this is the largest increase in pensions in 15 years.
The average pension will still be tax-free, and the tax exemption amount that came into effect on January 1st, which is still €704, will not change. The Social Insurance Board will first apply the tax exemption to the first pillar pension, and the remaining amount, if any, to the second pillar pension from the Pension Centre. If the payouts from the first and second pillars are lower than the tax exemption, the remaining tax exemption can also be used for other income, such as wages.
According to the draft law, the basic pension amount after indexing will be €317.9, and the annual amount will be €8,684. Pensions recalculated according to the 2023 index will be paid out from April.
The Estonian state recalculates pensions every spring to keep them in balance with changes in wages and prices. Each person’s individual pension is calculated based on their previous work contributions. The current indexing system for pensions has been in effect for 15 years since January 1st, 2008, when indexing was linked to social tax revenue in larger quantities.
After the index is confirmed, the Social Insurance Board will recalculate all national pensions with the new values. Individuals can view their new pension amount from April 1st on the eesti.ee portal. Further information is available from the Social Insurance Board’s customer service at 612 1360.
In addition to pensions, the daily rate for disability benefits will also be recalculated, which will be €18.60 from April 1st, and for those with missing work ability, the average amount of support will be €558 per month. For those with partial work ability, the disability allowance is calculated at 57% of the daily rate, and the average disability allowance for those with partial work ability is €318.06. The size of the disability allowance is calculated by the Unemployment Insurance Fund for each calendar month.
NordenBladet —On those days 105 years ago, the Declaration of Independence was read in Estonian cities. It was then that the breaking of the foundations of the Russian tsarist state was declared, with there being hope for peace and their own country. We have fought for and won our own country. …
The Speakers issued the Joint Declaration on the day that marks one year since the beginning of Russia’s full-scale, unprovoked, and illegal military invasion of Ukraine. “Russia’s ongoing war of aggression against Ukraine has caused immense suffering to the Ukrainian people and impacted millions of people around the world. It has undermined security and stability in Europe and globally, representing a major attack on the rules-based international order,” the Speakers of the Parliaments of four countries stated.
They reaffirmed their full solidarity with the people of Ukraine and commended their courage and determination to defend the freedom and sovereignty of Ukraine, paid tribute to all those who had sacrificed their lives for the independence of Ukraine and expressed their deepest sympathy and condolences to the families of the victims of the ongoing Russian aggression against Ukraine. They also reiterated their unwavering support and commitment to Ukraine’s independence, sovereignty, and territorial integrity within its internationally recognised borders.
According to the Speakers, their countries are determined to continue providing political, economic, military, and humanitarian support to Ukraine for as long as necessary. “We call on other countries to increase the support to Ukraine to ensure Ukraine’s ability to defend its independence and restore its territorial integrity. We support President Volodymyr Zelenskyy’s 10-point peace formula that aims to ensure the lasting security of Ukraine and the region. Along with other partners, we will continue our efforts to support the recovery and reconstruction of Ukraine, including its destroyed infrastructure,” they said.
They are convinced that Ukraine shares our common values of democracy, rule of law, and respect for human rights, and that Ukrainians are paying the ultimate price for defending our common values and European security. “Ukraine’s place is in the Euro-Atlantic family of free and democratic countries. We are committed to further supporting Ukraine’s aspirations to become the member of the European Union and NATO,” they stated in the Joint Declaration.
The Speakers condemned Russia’s ongoing aggression against Ukraine, firmly rejected the illegal annexation of Ukraine’s territories of Crimea, Donetsk, Luhansk, Kherson and Zaporizhzhia, and expressed deep concern about the growing Russian military presence in Belarus which is a factor that increases security threats in the region.
“We reiterate our demand for the immediate cessation of hostilities by Russia against Ukraine, of all deliberate and indiscriminate attacks directed against civilians and civilian infrastructure, and the full, immediate, and unconditional withdrawal of all Russian forces and military equipment from the territory of Ukraine within its internationally recognised borders,” the Speakers said in the Joint Declaration. “We call on the Belarusian and Iranian authorities to stop supporting Russia’s war against Ukraine. We also call on other countries to end all actions enabling Russia’s aggression.”
The Speakers declared that the Baltic States and Poland would continue to increase collective pressure on Russia to end this war and withdraw its troops from Ukraine by raising the cost of aggression for Russia, by further reinforcing and extending the restrictive measures against Russia, and by further strengthening the international isolation of Russia in all possible formats and areas. They also condemned the efforts to bring the Russian and Belarusian athletes back into international competitions.
The Speakers underlined that Russia, and all perpetrators and accomplices must be held accountable for the crime of aggression, for the war crimes, genocide, and crimes against humanity. “We support the investigation launched by the International Criminal Court to identify and prosecute those who have committed war crimes, genocide, and crimes against humanity on the territory of Ukraine. We call on the swift establishment of a special international tribunal under the auspices of the UN for bringing to justice the perpetrators of the crime of aggression by Russia’s political and military leadership against Ukraine,” they said.
They also emphasised that Russia had to pay for the damages caused to Ukraine. “We will work with our Allies and partners towards the use of Russia’s frozen assets to support Ukraine’s reconstruction and for the purposes of reparation,” they declared.
“Tyranny and terror must fail. Peace and freedom must prevail. Victory of Ukraine is the only way to restore peace in Europe. We stand with Ukraine,” the Speakers of the Parliaments of four countries said in their Joint Declaration.
Besides Jüri Ratas, Edvards Smiltēns from the Parliament of Latvia, Viktorija Čmilytė-Nielsen from the Parliament of Lithuania and Elżbieta Witek from the Parliament of Poland signed the Joint Declaration.
