Radar · Energy in Riga
Best Energy Companies in Riga, Latvia
The 44 best Energy companies in Riga, Latvia in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals.
By Riya SenguptaFinancials
44companies tracked
$0disclosed funding
0unicorns
—have raised
FLIAR INTELLIGENCE · ENERGY × RIGA
Our analysis of 441 Energy companies
$135.1b in tracked funding; 76% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2025.
441companies analysed
76%cloud-native stacks
2025funding peak (by rounds)
8unicorns
2013median founding year
Ranked: Best Energy companies in Riga
| # | Company | Disclosed funding | Revenue | Net income | Net margin | Employees | Founded | Recent signals |
|---|---|---|---|---|---|---|---|---|
| 1 | ORLEN Providing wholesale refined petroleum products to the market | — | $896M FY2023 | $4M | +0% | 13 | 2003 | — |
| 2 | AVM Bunker Company is a lubricant wholesaler offering a products and services to clients across various industries | — | $339M FY2021 | $20M | +6% | 2 | — | — |
| 3 | Conexus Provider of natural gas transmission and storage services | — | $105M FY2024 | — | — | 356 | 2016 | — |
| 4 | Naftimpeks Oil product terminal operating providing storage, temporary holding, and loading/unloading services for… | — | $32M FY2022 | $553K | +2% | 52 | 2006 | — |
| 5 | Nafta LV Wholesale distributor of light petroleum products | — | $15M FY2023 | $24K | +0% | 9 | 2011 | — |
| 6 | Juglas jauda Provider of energy management solutions and services | — | $14M FY2022 | $2M | +15% | 10 | 2004 | — |
| 7 | Energrid Provider of solar panel solutions, offering design and installation services | — | $13M FY2024 | — | — | 43 | 2019 | — |
| 8 | Baltijas Ogles Provider of coal and wood briquettes in wholesale | — | $5M FY2023 | — | -1% | 7 | 2011 | — |
| 9 | Divine Heat Provider of heat pumps & water heater supplying and smart solution services | — | $2M FY2022 | $24K | +1% | 3 | 2002 | — |
| 10 | RC-Pluss Provider of conveyor system installation and communication services | — | $2M FY2022 | $145K | +7% | 40 | 2015 | — |
| 11 | Balteneko Provider of grothermal energy projects development services | — | $1M FY2023 | — | -1% | 12 | 1997 | — |
| 12 | Lanela Power Solutions Manufacturer of panel builder and switchboard solutions | — | $1M FY2023 | $78K | +5% | 13 | 2017 | — |
| 13 | Alta Serviss Wholesaler & sales of car oils & chemicals, batteries, and tools | — | $1M FY2022 | $97K | +8% | 8 | 2002 | — |
| 14 | MEXXIN Provider of a wide range of lubricants, oils, and industrial products, including heavy duty gear oils and… | — | $1M FY2023 | $46K | +4% | 3 | 2010 | — |
| 15 | Latvian Transit Crude oil and petroleum products transport company that operates as the sole supplier of diesel through its… | — | $1M FY2022 | — | -1499% | 206 | 2023 | — |
| 16 | Belameks Provider of SAFT batteries services | — | $996K FY2022 | $35K | +3% | 8 | — | — |
| 17 | Mergo Serviss Provider of gas equipment sales, installation, technical maintenance services | — | $822K FY2022 | $11K | +1% | 21 | 1999 | — |
| 18 | AWIS Provider of HVAC manufacturing services | — | $712K FY2022 | — | -1% | 2 | 2009 | — |
| 19 | PRO Gaisma Company that offers electrical system design, author supervision services, and lighting calculations to… | — | $665K FY2023 | $15K | +2% | 10 | — | — |
| 20 | ADDO Energy LED luminaire wholesaler offering a range of commercial, street, and interior lighting solutions | — | $644K FY2023 | $25K | +4% | 3 | 2021 | — |
| 21 | TLA Elektro Provider of electricity supply services | — | $633K FY2023 | $11K | +2% | 2 | — | — |
| 22 | Baltic oil Management Environmental services company specializing in the extraction and management of oil and gas, with a focus on… | — | $606K FY2022 | — | -10% | 12 | 2009 | — |
| 23 | BTT Company is a natural gas supplier and trader that provides wholesale energy solutions to industries | — | $472K FY2018 | — | -30% | 2 | — | — |
| 24 | ENSEN Provider of engineering design consultancy and solutions | — | $460K FY2023 | — | -5% | 7 | 2020 | — |
| 25 | 3E Risinajumi Provider of energy management solutions for residential and commercial buildings | — | $423K FY2023 | $28K | +7% | 1 | — | — |
| 26 | Ekstracom Provider of e mobility and alternative energy solutions | — | $380K FY2022 | $49K | +13% | 9 | — | — |
| 27 | VSVPRO Provider of solutions for air conditioning and heating systems, offering a range of products and services to… | — | $364K FY2022 | $40K | +11% | 3 | 2024 | — |
| 28 | LED BALTIC Provider of LED lighting solutions | — | $294K FY2021 | — | -0% | 3 | 2013 | — |
Top 2 Energy companies in Riga
#1
Funding Raised · Riga, Riga · founded 1939—raised▾
Funding Raised · Riga, Riga · founded 1939
Electricity transmission & distribution company
Founders & team
Investors
Europa
Tech stack
AddtoanyAnimate.CssApple Icloud MailCloudflareCloudflare Browser InsightsDrupal
#2
Funding Raised · Riga, Riga · founded 2016 · 356 employees—raised▾
Funding Raised · Riga, Riga · founded 2016 · 356 employees
Provider of natural gas transmission and storage services
LinkedIn Pulse recent public activity · Jul 2026
Audience: 1k LinkedIn followers — 100.0% of this cohort's audience
Activity: 1 partnerships (incl. Conexus Baltic Grid AS) announced in 12 mo
Founders & team
Investors
Europa, AST
Tech stack
Apache Http ServerBootstrapCloudflareCookiebotHstsJquery
Funding & investor landscape
$0total disclosed funding
0companies funded
0disclosed rounds
0rounds last 90 days
Most active investors
Prism market signals · Latvia · country-scoped Prism corpus, 464,269 docs
Market landscape — 10 sub-themes by coverage
Share of Energy coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
RESEARCH IN RIGA · Energy
How research on Energy Storage in Riga is moving
A read on the academic research around Energy Storage in Riga — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 64 papers.
64 papers · stance +0.44 · 14% breakthrough · 15% concern
top institutions
- Riga Technical University50
- Tashkent Institute of Irrigation and Agricultural Mechanization Engineers8
- Midorigaoka Hospital3
- Ministry of Water Resources and Irrigation2
- Rigaku1
leading researchers
Kaspars Kroičs · Ģirts Staņa · Dagnija Blumberga · Antans Sauhats · Armands Grāvelsiņš · Diāna Žalostība
prism intelligence · tone & topics
94% positive · 2% critical tone
BusinessSustainabilityTransportationEnvironmentAutomotiveElectronics
▲
Breakthroughs8 · 12%
▲ 0%→12% share
0 median citations100% since 2021mostly methods-led
Breakthroughs are rising (0%→12% of field), led by Renewable energy.
rising sub-themes (early→recent)
- Renewable energy3
- Photovoltaic system3
- Battery (electricity)2
- Reinforcement learning1
- Electricity1
Newly emergingRenewable energy 0→3 · Photovoltaic system 0→3
Landmark Efficient market-based storage management strategy for FCR provider with limited energy reservoir · 5 cites
◆
Advancements42 · 66%
▲ 0%→66% share
0 median citations100% since 2021mostly methods-led
Advancements are rising (0%→66% of field), led by Renewable energy.
rising sub-themes (early→recent)
- Renewable energy14
- Power (physics)9
- Supercapacitor8
- Automotive engineering7
- Photovoltaic system6
Newly emergingRenewable energy 0→14 · Power (physics) 0→9 · Supercapacitor 0→8
Landmark Determination of the working energy capacity of the on-board energy storage system of an electric locomotive for quarry · 13 cites
▼
Concerns9 · 14%
▲ 0%→14% share
0 median citations100% since 2021mostly empirical
Concerns are rising (0%→14% of field), led by Renewable energy.
rising sub-themes (early→recent)
- Renewable energy6
- Environmental economics4
- Electricity2
- Energy transition2
- Software deployment2
Newly emergingRenewable energy 0→6 · Environmental economics 0→4
Landmark What drives energy storage deployment in local energy transitions? Stakeholders’ perspective · 10 cites
Common questions
How many Energy companies are there in Riga, Latvia?
Radar tracks 44 indexable Energy companies headquartered in Riga, Latvia that meet our profile-completeness bar.
What is the total funding raised by Energy companies in Riga, Latvia?
The Energy companies in Riga, Latvia on this list have raised a combined $0 in disclosed equity funding across 0 funded companies.
Which is the highest-funded Energy company in Riga, Latvia?
Funding figures are not yet disclosed for Energy companies in Riga, Latvia.
How many Energy companies in Riga, Latvia are funded?
0 of the 44 Energy companies in Riga, Latvia on this list have disclosed at least one equity funding round.
How many Energy unicorns are there in Riga, Latvia?
None of the Energy companies in Riga, Latvia on this list currently has a disclosed valuation of $1B or more.
Who are the top investors in Riga, Latvia Energy companies?
The most active investors in Riga, Latvia Energy companies on this list include Europa, AST, Buildit, ClimateLaunchpad, Katalista Ventures.
Riya SenguptaFinancials
Riya reads income statements for fun. She covers the real money in a sector — revenue, growth, who actually earns — and never met a vague claim she didn't want a number for.