Critical Infrastructure receives innovation certificate

Executive Summary

• Critical Infrastructure Technologies Ltd. received a dual‑use innovation certificate from the Latvian Ministry of Defence, enabling it to apply for up to €3 million in project financing from Altum, Latvia’s state development finance institution.
• The company plans to establish a manufacturing base in Liepaja, Latvia, with total project costs of ~€4 million; it will contribute €1 million (25 %) and seek the remaining €3 million through the Altum loan, which may qualify for a capital discount of up to 30 %.
• The Latvian operation will include leasing industrial premises in a special economic zone (4 % corporate tax), hiring up to six staff, engaging EU suppliers, and building five Nexus‑20 units for sale within Latvia/EU, supporting the firm’s broader European defence and security market expansion.

Key Details

• Innovation Certificate: Granted by Latvian Ministry of Defence; formally recognizes Critical Infrastructure’s dual‑use technology.
• Financing Request: Up to €3 million from Altum under its innovation support framework.
• Potential Loan Terms: May receive a capital discount of up to 30 % upon successful project completion, improving capital efficiency.
• Total Project Cost: Approximately €4 million; company equity contribution ~€1 million (25 %).
• Location & Tax Incentive: Facility to be leased in Liepaja Special Economic Zone with a corporate tax rate of 4 %.
• Operational Scope:
• Secure industrial premises.
• Employ up to six staff members.
• Source suppliers across Latvia and the EU.
• Manufacture five Nexus‑20 units for sale within Latvia/EU, generating significant revenue.
• Strategic Rationale: Enhances Critical Infrastructure’s European defence and security ecosystem presence; complements existing NATO Eastern‑flank partnerships and prior plans to make Latvia its European headquarters.

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 recognizes the dual‑use capability of our technology and provides a clear pathway to accelerate our European manufacturing strategy.” – Brenton Scott, CEO, Critical Infrastructure Technologies Ltd.