Business news from Ukraine

DTEK FOCUSES ON PLANS TO INVEST IN RENEWABLE ENERGY GENERATION IN EUROPE

DTEK Energy Holding has not abandoned plans to invest in the generation of electricity from renewable sources in Europe, and is now exploring opportunities for this in different countries, CEO of DTEK Renewables Maris Kuniсkis has said.
“Yes, this is in our focus. Plans to invest in Europe remain. As long as there is no stability in Ukraine, we focus on abroad,” he said during the 12th International Ukrainian Energy Forum of the Adam Smith Institute on Friday.
At the same time, he said that, since the market in Europe is also changing, the company has to reorient itself to other countries, abandoning the development of projects in those that were considered in 2020. In addition, Kuniсkis did not disclose the details of possible projects.

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ORGANIZERS OF INTERNATIONAL EUROPEAN UNIVERSITY IN KYIV INVEST OVER $3 MLN IN PROJECT OVER A YEAR OF WORK

Investments in the project for the creation and development of the International European University in Kyiv exceeded $3 million during the first year of its development, founder and vice-rector for scientific, pedagogical work and international relations of the university Alla Navolokina told the Interfax-Ukraine agency after a press conference at the agency on Thursday.
“Today, 850 foreign students from more than 40 countries of the world study at our university,” the vice-rector clarified.

According to her, training in scientific and educational institutions is carried out in seven areas: business school, architectural and engineering, language, medical, IT, law and art school. As part of the implementation of European education standards, students can choose freely more than 25% of subjects, not only in their professional filed, Navolokina specified.
She added that another feature of the university is a lifelong learning system – up to 93 years.
Chairman of the Development Assistance Council of the International European University, Academician of the Academy of Pedagogical Sciences of Ukraine Anatoliy Tolstoukhov noted at the press conference that the university seeks to bring Ukrainian education to a new quality level.

“Today, the process of consolidation of universities has begun in the world: along with schools, there will be much less of them. The specificity of our university is that at least two-thirds of students must be representatives of other countries,” he said.
According to him, such a scheme makes it possible to enrich the experience of world education in Ukraine.
Navolokina added that all teachers, students and junior staff at the university are fluent in English.
The International European University, according to the information on its website, was founded in Kyiv in 2019. Citizens of Ukraine and Austria are among its co-founders. The university has its own educational building at 1b Mahnitogorska Street in Kyiv.
According to the state register, the owner of a private institution of higher education “International European University” with an authorized capital of UAH 14.2 million through Polimed-K LLC is Serhiy Ryzhkov.

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PRESIDENT OF UKRAINE URGES REPRESENTATIVES OF FRANCE’S MEDEF TO INVEST IN UKRAINE

President of Ukraine Volodymyr Zelensky has called on representatives of the French business MEDEF International, who are on an official visit to the country, to participate in investment projects in Ukraine, the press service of the head of state reports.
In particular, the president drew the attention of investors to the implementation of the Big Construction national program. He called on French business to take part in the modernization of the road infrastructure of Ukraine within the framework of public-private partnership projects.
Among the large-scale investment projects, Zelensky also named railway communication, IT sphere, modernization and management of ports, airports, construction of metro and underground tunnels, etc. At the same time, the head of state emphasized the need to localize production in Ukraine.
Zelensky also proposed that Airbus, with which there is already a contract for the supply of helicopters, consider the possibility of participating in the implementation of a project to create a national Ukrainian air carrier and study the issue of attracting Ukraine to the production of the company’s products.
French businessmen confirmed their interest in cooperation in the mentioned areas.
“Today France is the sixth largest investment in Ukraine. Not a bad indicator, we can be glad. But we understand that it is better and much more can be done,” Geoffroy Roux de Bézieux, the president of MEDEF association, said.
Reportedly, some of the Ukrainian-French investment projects are already underway.
“A contract has been signed with Alstom company for the supply of 120 locomotives for the Ukrainian railway with partial localization of production in Ukraine (in the amount of 35%),” the report says.
In total, Ukraine and France have recently concluded intergovernmental agreements for more than EUR 1.3 billion.
The delegation of MEDEF association, which arrived in Ukraine, includes representatives of 20 large French companies from many sectors.

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DUTCH COMPANY PLANS TO INVEST EUR 50 MLN IN ENERGY PROJECTS IN UKRAINE

The Dutch company Bontrup plans at the first stage to invest EUR 50 million in energy projects in the Chornobyl exclusion zone as part of the implementation of the concept of Ukraine’s “green” energy transition, the Economy Ministry reported.
According to the report, Bontrup representatives discussed this proposal during a meeting with First Deputy Prime Minister-Minister of Economy Oleksiy Liubchenko, Deputy Minister Iryna Novikova, as well as with Acting Head of the State Agency on Energy Efficiency and Energy Saving Kostiantyn Hura and Head of the State Agency on Exclusion Zone Management Serhiy Kostiuk.
“The parties discussed the proposal of the Bontrup representatives on the implementation of an investment energy project on the territory of the Chornobyl exclusion zone as part of the implementation of the concept of a “green” energy transition in Ukraine,” the ministry said.
Bontrup also estimates the prospect of increasing the volume of investments at EUR 1.5 billion. According to the initiators, the implementation of the project will provide jobs for about 10,000 households, the ministry said.

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PRIME MINISTER OF UKRAINE INVITES ITALIAN BUSINESS TO INVEST IN UKRAINIAN PROJECTS

Prime Minister of Ukraine Denys Shmyhal met with Minister of Foreign Affairs and International Cooperation of Italy Luigi Di Maio, who is in Kyiv on an official visit, and discussed with him topical issues of trade, economic and investment cooperation, as well as cooperation in the field energy and infrastructure, according to a government portal on Thursday.
The prime minister said that in 2021 Ukraine will begin the process of privatization of large state-owned enterprises and invited representatives of Italian business to participate in tenders. “The auctions showed great interest on the part of foreign investors, and that the process of large and small privatization can be interesting for the further development of business in Ukraine,” the head of government said.
Shmyhal also noted positive trends in trade between Ukraine and Italy. “Ukraine is ready to offer Italian business the advantages of a deep and comprehensive free trade zone between Ukraine and the EU, in particular, in the format of industrial cooperation, including the implementation of joint production projects,” the prime minister said.
Shmyhal and Di Maio also touched upon the issues of cooperation in the agricultural sector and energy. “The European Green Deal is one of the priorities of our government. We are ready to join efforts aimed at realizing the goals of the Green Deal, and are interested in the development of alternative energy technologies,” the head of government said.
The prime minister invited Italian companies to cooperate in the field of gas production.
Also, the parties discussed interaction in infrastructure projects, in particular, on the development of the railway. “I would like to note the importance of the recently signed Memorandum between Ukrzaliznytsia JSC and the National Railway Company of Italy on the implementation of a high-speed railway communication project. This is an important and promising project. I am convinced that this cooperation has a wide range of opportunities,” Shmyhal said.
Di Maio, for his part, said that Italy strongly supports Ukraine’s European aspirations and the implementation of reforms, including agrarian, anti-corruption, and judicial reforms.

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EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT TO INVEST IN SCALLAR FROM UKRAINE

The European Bank for Reconstruction and Development (EBRD) has entered the capital of Scalarr Inc (Delaware, the United States) a company with operations and development center in Ukraine, as part of $7.5 million financing round, the bank has said on its website.
According to the report, the project was approved in September 2020. Today, all the required documents have been signed. The details of the deal are not available.
The EBRD said that Scalarr, a technology company with operations and development in Ukraine, provides the antifraud software solution for mobile application developers. Scalarr’s software, using its proprietary technology such as neural networks, unsupervised and semi-supervised machine learning allows the application developer to detect and prevent fraudulent application installs and avoid marketing expenses spent on purchase of the fraudulent traffic.
Scalarr said on its website that it saved its clients $22 million in ad fraud refunds in 2020.
The project was implemented under the Venture Capital Investment Programme (VCIP) II of the EBRD, which is a dedicated framework facility of EUR 50 million and is a continuation of EBRD’s existing programme, VCIP (EUR 100 million). The bank aims to invest in early and growth stage technology companies via equity and equity-linked instruments (investment size up to EUR 15 million).
In Ukraine, Scalarr Inc established Scalarr Ukraine LLC (Kharkiv) in September 2020. Its beneficiaries in the public register are the head of the company Inna Ushakova with 33.34%, as well as Andriy Ushakov and Yuriy Yashunin with 33.33% each.
Techcrunch publication earlier said that Scalarr’s Series A was led by the EBRD, with participation from TMT Investments, OTB Ventures and Speedinvest. Among other things, the company planned to use the money to expand its presence in Asia and continue developing the product.
Forbes Ukraine included Scalarr in the list of 30 best startups in Ukraine in the April issue of this year, valuing the company at $ 20-40 million, investment in it at $8 million, and the staff of 40 people.

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