Business news from Ukraine

Sanchez: Spain has more than 200 thousand refugees who came from Ukraine

Spain has received more than 200 thousand Ukrainians since the beginning of the full-scale invasion of Russia, Prime Minister Pedro Sanchez said.
“Spain has more than 200 thousand refugees who came from Ukraine, although we are at a great distance,” he said at the NATO Public Forum in Washington, where the NATO summit is taking place.
According to the prime minister, most Spaniards support the government’s efforts in Ukraine “because we understand what is at stake.”
“It is not only the defense of the territorial integrity, freedom, and the right to existence of a nation, but also respect for a world ruled by clear principles,” he said.

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Netherlands to allocate €20 mln for 1 mln FPV drones for Ukraine

The Netherlands is allocating 20 million euros to a joint drone coalition fund aimed at supplying 1 million FPV drones to Ukraine, the Dutch Ministry of Defense reports.
“There is a shortage of drones in Ukraine, but not in Russia. To reduce the deficit, Latvia and Ukraine created a drone coalition earlier this year, which was joined by the Netherlands. An agreement of intent was signed in February. The goal of the coalition is to give Ukraine 1 million drones this year and then expand the offer to other types, such as reconnaissance,” the statement said.
Currently, more than 265 companies, including 9 Dutch companies, have registered to supply FPV drones to Ukraine.
“Ukraine urgently needs a lot of attack drones. They have proven their effectiveness on the battlefield. We will provide this together with 11 other countries, which we confirmed today during the NATO summit,” said Defense Minister Ruben Brekelmans.

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Ukrainian scientist with technology for sustainable paper production wins second prize in Young Inventors Award

On July 9, the European Patent Office (EPO) awarded 23-year-old Ukrainian inventor Valentyn Frechka second place at the European Inventor Award 2024. The inventor also received a prize of €10,000. Frechka has developed a method for recycling fallen leaves into paper. In this way, he counteracts deforestation and offers a convenient and cost-effective way to dispose of organic waste in cities. He took second place after Dutch scientist Rochelle Niemeijer, who won first place and received €20,000 for her portable AI-based chemistry kit designed to detect bacteria. The third place and a prize of €5,000 went to a team of young Tunisian inventors Khaoula Ben Ahmed, Ghofrane Ayari, Souleima Ben Temime and Sirine Ayari, who developed a smart solution for controlling a wheelchair.

The idea of using fallen leaves to make paper to reduce deforestation was inspired by childhood expeditions to the Carpathians and his chemistry teacher. Since moving to France, Frechka has expanded his business, working with global companies such as L’Oréal and Chanel.

“We are grateful to the scientific and technical community for their support and faith in our innovations! Such events and nominations are extremely important for young inventors. They provide the encouragement and motivation needed to further develop and implement revolutionary projects,” says Valentyn Frechka, “This award is a powerful source of energy for the entire Releaf Paper team to keep moving forward.

Every year, 1.4 billion trees end up in landfills as paper waste, leading to escalating global warming, air pollution, and biodiversity loss. Deforestation also disrupts the water cycle and increases the cost of environmental management. These are the problems Frechka is trying to solve.

Recycling fallen leaves into paper using a new technology

“Releaf is a great example of what happens when experience, inspiration, and knowledge come together at the right time in the right place. When I was 16 years old, at school we were studying biopolymers such as cellulose and natural polymers, and how trees are cut down to turn them into paper. Then I thought: “Why not try to use something else? ” Frechka said.

Releaf Paper, founded in 2020 by Valentyn, recycles fallen leaves into biodegradable paper, reducing the need for deforestation. The company uses advanced technologies to process leaves without harmful chemicals, creating pulp for paper bags and boxes from the cleaned leaves. Future plans include the use of agricultural biowaste, such as pineapple stalks. Impressively, Releaf Paper produces as much pulp from 2.3 tons of leaves as could be obtained by cutting down 17 trees, and their products decompose in just 30 days, which is much faster than traditional paper.

All the winners of the European Inventors Prize 2024 were announced today at a hybrid ceremony in Malta, which can be viewed online.

Learn more about the impact of the invention, the technology and the story of the inventor.

The next Young Inventors Award in 2025 will be held in Iceland

During today’s ceremony in Malta, the European Patent Office (EPO) was pleased to announce a new prize concept starting in 2025. The prize will be awarded every two years and will now be open to young scientists under the age of 30 whose inventions contribute to the achievement of one or more of the UN Sustainable Development Goals (SDGs). An independent jury of former finalists will evaluate the applications, ensuring a fair selection process that honors the innovative spirit and achievements of the next generation of inventors. The award will be presented in Iceland in 2025, the first of the new biennial awards. Theapplication period for all technology sectors remains open from now until the end of September.

Starting in 2026, the EPO will return to the original concept of the European Inventors’ Prize, which will include the traditional categories of Industry, Research, SME, Non-EPO, Lifetime Achievement and People’s Choice.

About the inventor

Valentyn Frechka was born and raised in a village in Western Ukraine, where he developed an unquenchable curiosity about nature and life and a desire to protect them. At the age of about 12, his chemistry teacher encouraged him to delve into experiments, research, and innovation. At the age of 16, during a hike in the Carpathians, he came up with the idea of preventing deforestation by recycling fallen leaves, making them a valuable resource for paper production and reducing carbon dioxide emissions from decomposition. After participating in national competitions, he became a member of the Minor Academy of Sciences of Ukraine, where his journey to his own invention began.

After Russia’s invasion of Ukraine in 2022, Frechka moved to France and found new partners to expand the company’s capabilities. Currently, the production of leaf paper is outsourced from Ukraine, and Releaf sells its product in Europe and elsewhere, gaining customers such as L’Oréal, Chanel, Schneider Electric, Samsung, Weleda, Nestle, LVMH lab, and Ariston.

About theEuropean Inventor Award

The European Inventor Award is one of the most prestigious European innovation awards. Launched by the EPO in 2006, the award recognizes individuals and teams who have found solutions to some of today’s greatest challenges. The finalists and winners are selected by an independent jury composed of former finalists. Together, they consider proposals that contribute to technological progress, social and sustainable development, and economic prosperity. All inventors must obtain a European patent for their invention. For more information on the different categories, prizes, selection criteria and the live award ceremony, which will take place on July 9 in Malta, please click here.

About the EPO

With 6,300 employees, theEuropean Patent Office (EPO) is one of the largest public institutions in Europe. Headquartered in Munich and with offices in Berlin, Brussels, The Hague and Vienna, the EPO was established to strengthen cooperation in the field of patents in Europe. Thanks to the EPO’s centralized patent granting procedure, inventors can obtain reliable patent protection in 44 countries, covering a market of around 700 million people. The EPO is also the leading international organization in the field of patent information and patent search.

Ukraine increased exports of ferrous scrap by 35.3%

In January-June this year, Ukrainian enterprises increased exports of ferrous scrap by 35.3% year-on-year to 124,527 thousand tons from 92,048 thousand tons.
According to statistics released by the State Customs Service on Tuesday, 22.161 thousand tons were exported in June, 14.952 thousand tons in May, 26.153 thousand tons in April, 20.907 thousand tons in March, 23.194 thousand tons in February and 17.160 thousand tons in January.
In monetary terms, scrap metal exports increased by 45.9% to $39.760 million from $27.259 million.
In January-June, Ukraine exported scrap metal to Poland (84.88%), Greece (11.18%) and Germany (3.77%).
In the first six months of the year, the country imported 501 tons of scrap metal for $ 250 thousand. Imports were carried out from Slovakia (47.01% in monetary terms), Turkey (28.29%) and Poland (11.95%), while in January-June 2023, 458 tons were imported for $180 thousand.
As reported, in 2023, the scrap collecting enterprise of Ukraine increased the export of scrap metal from the country by 3.4 times compared to the previous year – up to 182,485 thousand tons from 53,557 thousand tons. In monetary terms, exports increased 2.74 times to $52.723 million from $19.271 million.
Earlier, Ukrmetallurgprom President Oleksandr Kalenkov stated in a column on the Interfax-Ukraine website that scrap metal is exported through the European Union, which has a preferential export duty of EUR3 per ton, and from there the raw materials are redirected to real customers. He noted that exporting raw materials directly to customers would cost EUR180 in export duties, and the Ukrainian budget has already lost UAH 350 million.
The head of Ukrmetallurgprom called for a temporary ban on the export of ferrous scrap to provide steelmakers with strategically important raw materials in the ongoing war. He also clarified that a ton of scrap metal processed into steel brings in 10 times more to the budget than the EU export duty, which is about $300 per ton.
In 2022, Ukraine reduced exports of ferrous scrap by 11.5 times compared to the previous year, to 53,557 thousand tons, and in monetary terms, it decreased by 12.4 times, to $19.271 million.

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Heat map of risks for the financial sector of Ukraine

Heat map of risks for the financial sector of Ukraine

Source: Open4Business.com.ua and experts.news

Portugal’s aid to Ukraine will exceed EUR 220 mln in 2024 – Montenegro

Portuguese aid to Ukraine in 2024 will exceed EUR220 million, Portuguese Prime Minister Luiz Montenegro announced in Washington, DC, where he is attending the 2024 NATO Summit.
According to the Portuguese government’s website, the same amount of aid will be allocated in 2025.
The prime minister said he had committed to presenting at the summit Portugal’s plan to reach 2% of GDP in defense, security and investment spending in 2029, which will amount to EUR6 billion. As part of this investment in security and defense, “a large-scale financial contribution to the international coalition, to military, humanitarian, political and economic assistance to Ukraine is also envisaged,” he added.
In addition, Montenegro noted that investments “in the attraction and retention of human capital, as well as in the development of military careers” will be increased.