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Financings

Critical Infrastructure Technologies Ltd. Receives a Dual-Use Innovation Certificate from the Latvian Ministry of Defence

By The Northwire Desk — AI Analysis Feb 23, 2026 · 09:01 CTTT · 0.48 Critical Infrastructure Technologies Ltd.
CTTT · Price

Executive Summary

  • Critical Infrastructure Technologies Ltd. received an Innovation Certificate from the Latvian Ministry of Defence, enabling it to apply for up to €3 million in financing from ALTUM.
  • The proposed loan could carry a capital discount of up to 30%, improving capital efficiency as the company establishes a European manufacturing base in Liepāja, Latvia.
  • Total project cost is estimated at €4 million, with CiTech contributing €1 million (25%) and seeking the remaining €3 million through ALTUM financing.

Key Details

  • Innovation Certificate: Granted by Latvian Ministry of Defence; formally recognises CiTech’s dual‑use technology for defence and civilian applications.
  • Financing Target: Up to €3 million from ALTUM under its innovation support framework.
  • Capital Discount: Loan may be eligible for a discount of up to 30% of principal, enhancing capital efficiency.
  • Project Scope (Latvia):
  • Secure industrial premises in Liepāja Special Economic Zone (corporate tax rate 4%).
  • Employ up to six staff members.
  • Engage suppliers across Latvia and the EU.
  • Build five Nexus 20 units for sale within Latvia/EU, generating revenue.
  • Project Cost: Approx. €4 million total; CiTech to fund ~€1 million (25%) in equity or cash, remainder via ALTUM loan.
  • Strategic Rationale: Establishes European manufacturing hub, strengthens integration with NATO Eastern Flank partners, and positions Latvia as the company’s EU headquarters.
  • CEO Comment: Brenton Scott highlighted the certificate as a fast‑track to EU operations and an accelerator for the European manufacturing strategy.

Notable Quotes

“We see this as a great strategy to get our operations fast tracked into Latvia and entrench ourselves even further within the EU. The Innovation Certificate recognises the dual‑use capability of our technology and provides a clear pathway to accelerate our European manufacturing strategy.” – Brenton Scott, CEO & Director, Critical Infrastructure Technologies Ltd.

Read the original news release →

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