Best Energy Tech Companies in Latvia
The 39 best Energy Tech companies in Latvia in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: OX Drive.
- prnewswire.com
- businesswire.com
Our analysis of 287 Energy Tech companies
$109.4b in tracked funding; 82% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2025.
Ranked: Best Energy Tech companies in Latvia
| # | Company | Revenue | Employees | Net margin | Disclosed funding | Founded | Founder | Recent signals |
|---|---|---|---|---|---|---|---|---|
| 1 | Vides Tehnika Provider of heat supply and thermal insulation products | $10M FY2023 | 21 | +1% | — | 2008 | Didzis Eglitis Owner | — |
| 2 | Energolukss Provider of energy storage solutions | $10M FY2023 | 50 | +2% | — | 1997 | Mikelis Caunitis Owner & CEO | — |
| 3 | GVF Production of biofuel from waste | $6M FY2022 | 15 | +25% | — | 2018 | — | — |
| 4 | UPS Serviss Centrs Provider of energy storage systems | $2M FY2022 | 9 | +13% | — | 1996 | — | — |
| 5 | Blue Shock Race Manufacturer of electric racing karts & track systems | $1M FY2021 | 22 22 → 19 (-14%) | -14% | — | 2015 | Artis Daugins Founder & CEO | — |
| 6 | SkyBill Provider of ERP platform with billing management capabilities for utility companies | $1M FY2024 | 7 | — | — | 2016 | Maris Drone CEO | — |
| 7 | Allatherm Provider of thermal science and heat transfer devices | $928K FY2023 | 15 15 → 8 (-47%) | +13% | — | 2016 | Donatas Mishkinis Founder | — |
| 8 | AdvanGrid Provider of energy management solutions | $643K FY2023 | 8 | +9% | — | 2016 | Oskars Gutmanis CEO | — |
| 9 | AgroMax Manufacturer and supplier of LED grow lights | $343K FY2022 | 2 | +51% | — | 2015 | — | — |
| 10 | Wasserkabel Provider of water capillary mats for heating and cooling solutions | $326K FY2019 | 16 | -45% | — | 2015 | — | — |
| 11 | AIPLights Provider of LED lighting solution | $322K FY2024 | 2 | — | — | 2016 | Imants Gromskis Owner | — |
| 12 | MMX Energy Provider of electric vehicle charging solutions | $265K FY2023 | 3 | +6% | — | 2010 | — | — |
| 13 | Intenica Provider of smart charging stations | $254K FY2023 | 3 | -5% | — | 2012 | — | — |
| 14 | Mauglo Smart street light systems | $252K FY2022 | 10 | -21% | — | 2011 | Martins Buzerins CEO | — |
Top 4 Energy Tech companies in Latvia
#1
Seed · Riga, Riga · founded 2023$140.9Kraised▾
Developer of high-efficiency electrolysis systems for lower green hydrogen production costs. The company's decoupled water electrolysis systems feature membrane-free acid environment technology. The systems separate oxygen and hydrogen gas evolution. The cyclic process involves oxygen production on the working electrode and hydrogen release.
- Apr 2026Seed—
- Sep 2025Seed$140.9K
#2
Seed · Riga, Riga · founded 2022$3Mraised▾
App-based car rental platform. Users can unlock the car through the app, ride, and park at a legal parking spot at the end of the ride. The app is available for both Android and iOS devices.
#3
Deadpooled · Riga, Riga · founded 2013 · 3 employees$66.5Kraised▾
Developer of light-emitting technology intended to reduce the cost of making organic light-emitting diodes. The company develops light-emitting diodes by replacing expensive materials iridium compounds with aromatic carboxylates which can be used as light sources, flexible information screens, and panels, providing customers with cost-effective, non-volatile, and insoluble luminescence technology.
#4
Funding Raised · Riga, Riga · founded 2016 · 15 employees—raised▾
Provider of thermal science and heat transfer devices
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of Energy Tech coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
How research on Grid Energy Storage is moving in Latvia
A read on the academic research around Grid Energy Storage — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 97 Latvia-affiliated papers.
- Riga Technical University50
- Institute of Solid State Physics17
- Institute of Economics12
- University of Latvia6
- Institute of Mathematics and Computer Science5
- Electrolyte8
- Anode5
- Electrochemistry4
- Battery (electricity)4
- Nanoporous4
- Renewable energy20
- Power (physics)12
- Photovoltaic system11
- Supercapacitor9
- Automotive engineering8
- Renewable energy6
- Environmental economics6
- Power (physics)4
- Electricity3
- Perspective (graphical)2
Where energy storage is researched across Latvia
Location clusters by institution affiliation — each city's volume, stance tone, and a quick read on its hot topic, what's advancing, the opening opportunity, and the main concern.
Common questions
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.