Business news from Ukraine

Business news from Ukraine

“Ukrainian Innovation Company” will hold meeting of shareholders on February 27

PJSC Ukrainian Innovation Company has planned to hold a general meeting of shareholders on February 27, 2026. In the provided data on the meeting, the main issues put to vote were not disclosed.

PJSC Ukrainian Innovation Company is a joint-stock company that publishes regulated information on corporate events and decisions of management bodies.

https://www.fixygen.ua/news/20260220/ukrayinska-innovatsiyna-kompaniya-provede-zbori-aktsioneriv-27-lyutogo.html

 

Fireproof materials manufacturer Kovlar Group claims information attack on company and discrediting of Ukrainian manufacturers

Ukrainian fireproof materials manufacturer Kovlar Group LLC (Kyiv) considers the information attack on the company to be an element of unfair competition.

“Against the backdrop of high-profile corruption scandals related to procurement for Ukraine’s energy sector and Kovlar Group LLC’s offer of Ukrainian-made fire-retardant materials at prices significantly lower than those of the winners of state tenders, we consider such actions to be an element of discrediting the Ukrainian manufacturer and unfair competition,” the company said in a statement posted on its website.

The company received a journalist’s request (dated February 18, 2026), the content of which indicates an attempt to repeat the information discrediting campaign, as in the summer of 2025.

In August 2024, a large-scale information attack was carried out against Kovlar Group, accompanied by commissioned publications of similar materials in a number of media outlets. Their goal was to discredit the company during its active participation in state tenders for the protection of energy infrastructure facilities.

At that time, the company chose the legal route of defense: it appealed to the court, the Prosecutor General’s Office of Ukraine, the National Police, the Ministry of Justice, and financial monitoring authorities. As a result of the inspections, official confirmation was received: the company and its founders operate in accordance with Ukrainian law, are not subject to sanctions, and have no restrictions on their economic activities.

Currently, Kovlar Group LLC continues to operate as usual, fulfills its contractual obligations, and develops production, emphasizing that all products under the Ammokote trademark are manufactured in accordance with current regulatory documents, and that the technical and licensing documentation is valid and complies with regulatory requirements.

“The company operates openly, professionally, and within the framework of current legislation. Participation in government tenders is carried out on a competitive basis. The company is a conscientious taxpayer and has a high level of tax discipline. The company has already proven the groundlessness of previous accusations in the legal field, so we are confident that this time the truth will be on our side,” the statement said.

Kovlar Group LLC was founded in 2015. It is the largest manufacturer of passive fire protection products in Ukraine.

According to OpenDataBot, the company’s authorized capital is UAH 1.2 million. The ultimate beneficiaries are Konstantin Kalafat (40% of shares), Andriy Ozeychuk (35%), and Lyubov Vakhitova (25%).

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Nova Post Europe doubled its network to 800 branches in 16 European countries in one year

In 2025, Nova Post Europe doubled the number of branches in 16 European countries to 800, Nova Post Europe CEO Oleksandr Lysovets said in an interview with Forbes Ukraine.

“At some point, we realized that instead of chasing the number of countries, it was better to focus on deepening our presence in existing markets… We started by copying the Ukrainian model, but quickly realized that each market requires its own logic for entry and scaling,” he explained the change in growth strategy.

According to Lysovets, in 2025, the largest number of branches were opened in Poland (32), Moldova (25), Germany and Spain (24 each), and the total number of employees reached 1,670.

The CEO specified that most of the 800 service points are partner branches and PUDO (pick-up/drop-off) based on partner businesses.

“The company is actively shifting its focus towards partnerships: last year, 90% of new service points were partner ones. But in each country, we look at the existing infrastructure,” Lysovets noted, citing the example of Poland, where InPost operates with over 25,000 parcel terminals, so there is no point in building its own network there.

He also said that Moldova is the only country in Europe where the strategy involves building a full-fledged infrastructure of its own, replicating the model of Nova Poshta in Ukraine. In particular, in 2025, a full-fledged franchise was launched there, with 21 partner branches.

The CEO of Nova Post Europe emphasized that in 2025, the company tripled in size in Moldova. Currently, EUR 2 million is being invested in a new sorting hub, which will be five times larger than the previous one. In particular, this amount is planned to be used to expand the physical presence, which will include, among other things, the installation of 150 parcel terminals, the opening of 150 PUDOs, six own branches, and 60 partner branches.

“The goal is to provide maximum coverage and convenience for customers,” Lysovets emphasized in an interview.

According to him, at the end of the fourth quarter of 2025, Nova Post Europe became profitable in Poland, Moldova, the Czech Republic, and Latvia.

The company, which processed 13 million international shipments last year, plans to increase this volume by more than 30% in 2026 and maintain this pace until 2030. As the CEO noted, these plans will be supported by a new phase of European expansion with investments of over $5 million. In particular, there are plans to launch an automated line in the Czech Republic and a proprietary CSS in Germany.

“In Poland, we are investing $1.8 million in opening 300 partner mini-branches, which will allow us to quickly expand the network using our partners’ existing infrastructure for effective scaling,” Lisovets added.

According to him, the amount of investment in Spain will be about $0.64 million, which will be used to open 50 PUDOs and 86 partner mini-branches.

The CEO also noted that, on average, Ukrainians account for about 60% of Nova Post’s customers abroad, but in Moldova, they account for less than 1%.

In October 2025, company co-founder Volodymyr Poperechnyuk announced that the Nova group of companies, which includes the express delivery leader Nova Poshta and the financial service NovaPay (TM NovaPay), plans to grow fourfold in five years.

The CEO of Nova Post Europe, in turn, noted that fourfold growth is impossible only within the framework of traditional delivery, the existing customer base, or without updating the service package.

“It’s not just about growing existing volumes, but about expanding the market itself for the company through new products, services, and usage scenarios. We see huge room for scaling where we haven’t even begun to truly unleash our potential,” Lysovets emphasized.

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Ivano-Frankivskgaz convenes shareholders’ meeting on February 27

According to Fixygen, JSC Gas Distribution System Operator Ivano-Frankivskgaz will hold a general meeting of shareholders on February 27, 2026, in a remote format (poll). The key topic of the vote is the approval of a significant transaction of interest: the continuation of contractual relations for the lease of gas distribution system facilities with Gas Distribution Networks of Ukraine LLC. The announcement mentions the amount of UAH 208.98 million (including VAT).

JSC OGRM Ivano-Frankivskgaz is a gas distribution network operator in the Ivano-Frankivsk region, responsible for gas distribution and the operation of regional gas infrastructure.

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Romania and USA will build plant for processing rare-earth metals

Romania and the U.S. company Critical Metals Corp have agreed to prepare a project to create in Romania facilities for processing rare-earth raw materials, which are planned to be supplied from the Tanbreez deposit in Greenland.

As Romanian Energy Minister Bogdan Ivan told Antena 3, the authorities intend to determine the financial model of the project and the list of metals to be processed by mid-April, after which the government should approve the relevant memorandum.

Back in December 2025, Critical Metals announced plans to form a joint venture with Romania’s FPCU to build a facility to process rare earth minerals from the Tanbreez project, with the company intending to supply Romania with 50% of the concentrate for the entire life of the mine. The company emphasized that the project is designed to reduce Europe’s dependence on Chinese processing capacity.

 

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Ukrnafta announces commercial procurement of road transport services for light petroleum products

Ukrnafta JSC announces commercial procurement of road transport services for light petroleum products to meet commercial needs, the company said on Friday.

“The procurement will take place on the Zakupivli.pro platform in two stages. Offers submitted by other means will not be considered,” Ukrnafta said.

As explained by the company, Ukrnafta is accepting commercial proposals for road transportation of light petroleum products across Ukraine in connection with the expansion of its network and increased sales.

“We are waiting for commercial proposals until March 1, 2026, inclusive,” the statement said.

Ukrnafta JSC is Ukraine’s largest oil producer and operator of the largest national network of filling stations, UKRNAFTA. The company has 1,807 oil and 164 gas production wells on its balance sheet.

In 2024, the company entered into an asset management agreement with Glusco. In 2025, it completed a deal with Shell Overseas Investments BV to purchase the Shell network in Ukraine. It operates a total of 663 gas stations.

The company is implementing a comprehensive program to restore operations and update the format of its network of gas stations. Since February 2023, it has been issuing its own fuel vouchers and NAFTAKarta cards, which it sells to legal entities and individuals through Ukrnafta-Postach LLC.

The largest shareholder of Ukrnafta is Naftogaz of Ukraine with a 50%+1 share. In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state the corporate rights of the company that belonged to private owners and is now managed by the Ministry of Defense.

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