In August the Latvian Private Equity and Venture Capital Association” (LVCA) organized the Baltic VCA Summit 2022 in Riga.
The event featured many high-level activities, including discussions about cooperation opportunities, the latest trends in private equity and venture capital markets. Participants shared experiences in investing and raising capital, as well as discuss the challenges and opportunities that arise from the current turbulent geopolitical and financial circumstances. On the 2nd day of the summit, ABLabs presented its H2O-CH technology to the participants of the summit.
ABLabs had the opportunity to showcase its H2O-CH technology to many high-level stakeholders in the Private Equity and Venture Capital ecosystem. “This is an important aspect of IP marketing that the company has to use”, highlights ABLabs board member Armands Jurjevs.
The “ArtuPower” product, which is being developed with the support of Norway Grants is also patent protected as part of the “Gas ultrasonic transducer system and method for operating a diesel common-rail engine” (hereinafter H2O-CH) technology. The “ArtuPower” product is designed for heavy-duty is for engine with large displacements and is currently under development.
The project is supported by Norway through the Norway Grants.
Within the project the “ArtuPower” product will be developed up to the level of TRL8 technology readiness level, and the project duration is expected to be 18 months. The total project budget is 132,400 EUR, with a support of 92 680 EUR is intended with the support of the “Norwegian Financial Mechanism’s small grant scheme”.