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Infortar invests in agriculture

Alongside the energy, maritime transport, and real estate sectors, Infortar enters the agriculture sector for the first time by acquiring a majority stake in one of Estonia's largest dairy companies in Halinga, Pärnumaa.

"Estonia's latitude is suitable for dairy production, and Estonian dairy farms are regionally competitive. Halinga, with its three farms and more than 3,700 hectares of arable land, is one of the largest and most modern," noted Infortar's Managing Director, Martti Talgre.

"Investments in agriculture fit into Infortar's portfolio – a capital-intensive field with high entry barriers. We are interested in investing and have plans, but we can comment on this transaction and plans more precisely after the approval from the Competition Authority and the transaction's finalization," Talgre remarked.

According to Halinga's manager, Raul Peetson, we live in a place where people have been able to sustain themselves since the beginning of time. "Today's dairy production and farming are based on the experiences of those who came before us. This experience tells us that the greatest value we must preserve when producing food is our land. This knowledge and adherence to it have allowed our Halinga dairy production to rise to the top in Europe and manage so that we can produce food for ourselves and have surplus for others," said Peetson.

"At Halinga, we believe that large-scale production is not just about the tons of milk but maximizing environmental protection and the welfare of our day-to-day heroes – the cows – as well as the satisfaction and future security of our people. Development in farming never ends, and we see that we must move forward. Forward towards a cleaner environment, towards an even smarter and more eco-friendly production model. Forward to even greater heights in Europe - in the world. And we do this so that in addition to wisdom, we can also pass on a clean and better environment for the future. To maintain production, but primarily to sustain and develop life in the countryside," Peetson elaborated.

An Infortar subsidiary has signed an investment agreement and shareholders' agreement to acquire a 51% stake in OÜ Halinga. The completion of the transaction is conditional upon obtaining the necessary approvals from the Competition Authority and carrying out additional actions. Among other things, the final price of the transaction depends on parameters that need further clarification and will be determined on the completion date of the transaction.

OÜ Halinga is one of Estonia's largest dairy producers and a significant regional employer, with over 70 people employed. Halinga's dairy herd and young stock number over 3,000, and it cultivates 3,700 hectares of land. After the transaction is finalized, OÜ Halinga will continue its operations as a member of the Infortar group.

Ain Hanschmidt - Infortar AS juhatuse esimees.

Infortar announced last quarter financial results of the previous year

On February 26, the management of AS Infortar announced the financial results for the fourth quarter of 2023 and commented on both the results and the principles of dividends to be paid at a webinar. The webinar can be watched here.

"The financial results of the group for the past year are adorned with the largest profit of all time - in the results of the first 9 months, we announced that the volume of our assets approached 1.5 billion. We were able to adapt quickly and flexibly during difficult times, turn the demanding challenges arising from market changes into success, and ultimately achieve a strong result," said Ain Hanschmidt, Chairman of the Board of Infortar.

The brightest events in the company's activities over the last twelve months were undoubtedly related to energy, and the number of passengers on the Baltic Sea also recovered to the pre-pandemic level.

"Despite the extraordinary year, these were not one-off results - Infortar's shares with the trading symbol INF1T are listed on the Tallinn Stock Exchange, our investment portfolio is diverse and cross-border, proven in crises and has great growth potential. As long-term experienced investors ourselves, we want to offer our investors dividend security," added Hanschmidt.

Margus Kaasik - Eesti Gaasi juhatuse esimees.

Prices of natural gas drops further in February and March

The largest private capital energy company in the Baltic-Finnish region, Eesti Gaas, will lower the price of its flexible package for domestic customers in February by twenty percent compared to January, and by an additional seven percent in March – the new price in March will be 0.46 euros/m³ including VAT.

"The price of natural gas has fallen to summer levels in the middle of winter, despite the cold weather the price of gas at the beginning of the year has halved," said Margus Kaasik, Chairman of the Board of Eesti Gaas.

"If last heating season gas drove up energy prices, now the roles have changed and the central theme has become the reliability and price of electricity supply. Gas has helped cover our energy demand this winter and survive the frost, it would not have been possible without the contribution of natural gas," noted Kaasik.

Natural gas is predominantly imported from the United States and Norway in liquefied form, or LNG, to the Finnish Inkoo and Lithuanian Klaipeda terminals. Eesti Gaas brought 18 shipments of LNG to the region last year. One shipment of gas constitutes about a quarter of Estonia's annual gas consumption.

Operating in five markets – Finland, Estonia, Latvia, Lithuania, and Poland – Eesti Gaas grew last year into the largest private capital energy company in the Finnish and Baltic region. Eesti Gaas offers its customers natural gas in the form of pipeline gas, compressed natural gas (CNG), and liquefied natural gas (LNG), and manages the largest gas network in Estonia and Latvia. The company is actively engaged in international energy trade and is developing a renewable energy portfolio through the production and sale of solar energy and green gas (biomethane). In foreign markets, Eesti Gaas operates under the name Elenger.

Infortari aktsiad on börsil kaubeldavad.

Nasdaq Welcomes Infortar to Baltic Main List

Nasdaq announces that the shares of Infortar (ticker: INF1T), the largest investment holding company in Estonia, were listed on the Nasdaq Baltic Main List by Nasdaq Tallinn as of December 14, 2023.

The listing of Infortar’s shares follows their initial public offering (IPO) in which the company raised EUR 35.36 million from Estonian investors. A total of 5,517 investors subscribed for Infortar’s shares and the offering was 1.3 times oversubscribed.

"I’ve said it many times, and I will keep saying that: becoming a public company requires courage. Companies aiming to become public do not need ideal market conditions to open up, instead they need a firm ambition and confidence in their story. Therefore it’s even greater pleasure to see Infortar – one of the biggest companies in Estonia and now in TOP3 among Tallinn-listed companies by market capitalization – to conduct a successful IPO and become listed on our exchange. In addition, Infortar is the first investment holding company traded on the Baltic exchanges, giving investors an additional opportunity to diversify their portfolios,” said Kaarel Ots, Head of Nasdaq Baltic Exchanges and CEO of Nasdaq Tallinn.

"Going public will accelerate our international expansion and help raise additional capital. Infortar has won just by organizing the IPO – the quality of our company has reached the next level and our reputation has grown. Infortar is a company focused on growth – we are looking for new investment opportunities and want to increase the value of the investors' assets," said Ain Hanschmidt, the Chairman of the Management Board of Infortar.

Infortar's IPO was a success

In the initial public offering (IPO) of AS Infortar, a total of 5,517 retail investors from Estonia and professional investors from Europe participated. The total volume of subscriptions submitted by investors reached 41.4 million euros, which is 1.3 times more than the base offer size of 31.2 million euros.

The final price for AS Infortar shares was confirmed at 26 euros. The company decided to allocate a total of 1,360,000 offered shares to investors, with 160,000 shares to be distributed through the overallotment option. The total offering size, based on the final price, amounted to 35.4 million euros. The expected first trading day for Infortar shares is December 14.

"When the economy declines, Infortar grows, raises funds, and goes public. Conducting the IPO in our characteristic contrarian manner, we managed to achieve a strong result in a challenging environment. Going public and raising capital gives us an extra boost for international expansion. We appreciate those who trusted us and our portfolio – all retail investors who subscribed to Infortar will receive shares in the desired quantity and at the lower end of the price range," said CEO Ain Hanschmidt.

"Infortar's IPO is the largest in the Baltic region in the last two years, and based on market capitalization, it is the third-largest company on the Nasdaq Tallinn Stock Exchange. Despite a challenging environment, the transaction proved successful and provides Infortar with the opportunity to realize its development plans as a public company with a broad shareholder base. The active participation of retail investors, which was also a significant focus for the company, is pleasing," said Mihkel Torim, Head of Investment Banking at LHV.

According to the prospectus for Infortar's initial public offering, individuals and entities in Estonia, as well as professional investors in European Economic Area member states and the United Kingdom, could subscribe to shares from November 28 to December 7. Trading of Infortar shares on the Nasdaq Tallinn Stock Exchange's Baltic Main List begins on December 14 or a nearby date.

Existing shareholders of Infortar have entered into a lock-up agreement, stipulating that major shareholders are not allowed to sell their Infortar shares without the consent of the organizers for 12 months, and minor shareholders for 6 months from the listing of the shares.

LHV and Swedbank organized the initial public offering of AS Infortar, Ellex Raidla served as Infortar's legal advisor, Cobalt as the legal advisor for the banks, and Hamburg ja Partnerid as the communication advisor. Details of the offering are provided in the prospectus, available electronically on Infortar's website ( and the Financial Inspectorate (FI) website

For more information:

Kadri Laanvee

Head of Investor Relations, AS Infortar


Not for distribution in the United States of America or in any other jurisdiction where such distribution would be illegal. This is an advertisement. Before making an investment decision, please read the prospectus at to fully understand all associated potential risks and rewards. The approval of the prospectus by the Estonian Financial Supervision and Resolution Authority should not be understood as an endorsement of the securities offered by the issuer.

Infortar’s IPO

Today marks the start of the IPO of AS Infortar shares. Physical and legal persons in Estonia can subscribe for shares until next Thursday, December 7, within the price range of 26 to 32 euros per share.

The Estonian Financial Supervisory Authority (Finantsinspektsioon) has approved the prospectus for the initial public offering of Infortar shares. The company has also applied to Nasdaq Tallinn AS for the listing and admission of its shares for trading on the main list of the Nasdaq Tallinn Stock Exchange. The anticipated first trading day for Infortar shares is 14th of December.

Chairman of the Management Board of Infortar Ain Hanschmidt:

“We are opening our portfolio and wish to grow our success with new investors. Our portfolio that is focused on energy, maritime transport and real estate is diverse and international, proven in crises and has a big growth potential. According to our vision, Infortar is dedicated to developing the productivity of its companies – Eesti Gaas has become the biggest private capital energy company in the Finnish and Baltic region, Tallink has become the biggest maritime transport company on the Baltic Sea and for real estate we are one of the biggest asset owners in the region. We are long-term experienced investors and wish to provide dividend security to new investors.”

Managing Director of Infortar Martti Talgre:

“Infortar has a diverse portfolio, strong balance sheet and modest loan burden – our cash flow is secure and enables us to pay dividends. We determined the Offering amount based on the needs of the Company and the price range based on its appeal to the investors. Searching for and utilising of growth opportunities is in the DNA of Infortar. Growth has originated from international expansion and investments that amount to a quarter billion euros in the past years.”

Chairman of the Management Board of Eesti Gaas Margus Kaasik:

“Infortar owner Eesti Gaas earns most of its revenue from foreign markets. We have led the transition to western LNG in the area and thus won new clients and market share. Besides sales we have significantly increased our energy infrastructure sector by acquiring the biggest Latvian gas distribution network and built a bunkering ship. We are also actively involved in renewable energies by producing and selling local biogas and solar energy. In the long run we see natural gas as the main supporting energy type for renewable energy sources.”

According to the prospectus approved by the Estonian Financial Supervisory Authority, physical and legal persons in Estonia, as well as professional investors in European Economic Area member states and the United Kingdom, can subscribe for Infortar shares from 28 November at 10:00 AM until 7 December at 4:00 PM. The number of shares issued during the offering ranges from 1,200,000 to 1,980,000 shares. The price range for the offering is 26 to 32 euros per share, making the financial volume of the offering between 31.2 and 63.4 million euros. Subscription applications in the retail offering will be submitted at the highest level of the price range, which is 32 euros per share.

An investor wishing to subscribe for Infortar shares in the retail offering must contact their account operator, managing the investor's securities account at Nasdaq CSD SE Estonian branch (Nasdaq CSD), and submit a subscription order during the offering period according to the offering conditions. For institutional offering subscription, investors should contact the organizers of the offering.

Existing shareholders of Infortar have entered into a lock-up agreement, which restricts major shareholders from selling their Infortar shares without the consent of the offering organizers for 12 months, and minor shareholders for 6 months following the listing.

The disclosure of AS Infortar's initial public offering price, results, and allocation will take place on December 11th or a date close to it. Trading of Infortar shares on the main list of the Nasdaq Tallinn Stock Exchange will commence on December 14th or a date close to it.

The expected timetable of the offering is as follows:

28 November 2023

Publication of the Prospectus

28 November 2023 at 10:00 (Estonian time)

Offer Period commences

7 December 2023 at 16:00 (Estonian time)

Offer Period ends

On or about 11 December 2023

Decision on the Offer Price and allocation of the Offer Shares

On or about 13 December 2023

Settlement of the Offering

On or about 14 December 2023

Listing and commencement of trading of Shares on the Nasdaq Tallinn Stock Exchange.

AS Infortar's primary public offering organizers are LHV and Swedbank. Ellex Raidla serves as Infortar's legal advisor, while Cobalt is the legal advisor for the banks involved. Hamburg ja Partnerid is the communication advisor. Detailed information about the offering is available in the prospectus, accessible electronically on Infortar's website ( and the Financial Supervisory Authority's website

Infortar operates in five countries, with its main areas of activity in energy, maritime transport, and real estate. It holds nearly a 42 percent stake in AS Tallink Grupp, 100 percent ownership of AS Eesti Gaas, and a diverse and modern real estate portfolio of around 100,000 square meters. In addition to these core areas, Infortar is involved in construction, mining, printing, taxi services, and other sectors. The Infortar group comprises a total of 104 companies: 48 group companies, 5 associates, and 50 subsidiaries of associated companies. Excluding associated companies, Infortar employs 1,333 individuals.

Before making an investment decision, investors should read the Prospectus and the summary of the Prospectus and, if necessary, consult with a person specialising in advising on such investments.

Further enquiries:

Kadri Laanvee

Head of Investor Relations of AS Infortar

----Important notice——

This notice is not intended for distribution directly or indirectly in the United States or in any other country where dissemination, sharing, or transmission would be unlawful or to persons subject to financial sanctions by competent authorities. This notice is an advertisement and not a prospectus within the meaning of the Prospectus Regulation. Before making any investment decision regarding the securities referred to in this notice, investors should read the prospectus to fully understand the risks and benefits associated with the investment. The company's shares are publicly offered only in Estonia. The prospectus is available on the Financial Supervisory Authority's website ( and the company's website ( The approval of the prospectus by the Finantsinspektsioon (Financial Supervisory Authority) should not be construed as an endorsement of the securities.

Infortar opens new headquarters

Estonia's largest investment company, Infortar, relocated its group's subsidiary companies to a newly constructed office building in the heart of Tallinn on Liivalaia street.

"Infortar has grown into one of Estonia's largest companies, and a large organization requires proper infrastructure and modern working conditions. Our group includes over a hundred subsidiaries and affiliated companies, and not all of them fit into the new building," noted Infortar's CEO Martti Talgre.

"Real estate is our third important field alongside energy and shipping. The Liivalaia office building is our own group's development and construction project. We have become one of the largest property owners in Estonia by asset volume," added Talgre.

Infortar's subsidiary and affiliated companies, including the building contractor INF Ehitus, are moving to the office building at Liivalaia 9. The region's largest private equity energy company, Eesti Gaas, will have its headquarters on four floors of the building. Eesti Gaas has been located at the same address for several decades, even before the old building was demolished and replaced.

The nine-story office building, designed by Allianss Arhitektid, has a closed gross floor area of 7500m2. The building, equipped with energy-efficient and modern climate control systems, has a facade covered with anodized aluminum and additional sunshades provided by perforated aluminum slats. In the lobby facing Liivalaia Street, there is a metal sculpture titled "Fraktal," created by Heigo Jelle and illuminated at night by Alyona Movko-Mägi's videomapping.

 Infortar's ITF

Infortar Announced its Intention to List on Nasdaq Tallinn Stock Exchange

AKTSIASELTS INFORTAR (“Infortar”) announced on 20 November 2023 its intention to commence with the process of organising an initial public offering (the “Offering”) and listing of its ordinary shares (the “Shares”) on the Baltic Main List of the Nasdaq Tallinn Stock Exchange (the “Tallinn Stock Exchange”).

With the Offering, Infortar aims to provide investors an opportunity to invest in one of the biggest investment holding companies in the Baltics[1] whose portfolio is comprised of companies active in energy, shipping, real estate, and other fields.

Under the Offering, Infortar intends to offer newly issued Shares.

As a result of the Offering Infortar aims to widen its investor base and by listing create liquidity for the Shares. Infortar hopes that the Offering increases the reputation of Inforar and its subsidiaries (“Group”) amongst existing and potential clients and cooperation partners and creates additional funding opportunities, thus supporting the fulfilment of Group’s long-term strategy.

This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129, as amended (the “Prospectus Regulation”) and is not an announcement of a public offer of securities or a call to subscribe for the shares of Aktsiaselts Infortar (“Infortar”). Before making an investment decision all potential investors should read Infortar’s prospectus and if necessary, consult an expert. Investors should make an investment decision with respect to securities referred to in this announcement solely based on the information contained in the prospectus of Infortar, that is approved by the Estonian Financial Supervision Authority (the “EFSA”), in order to fully understand the potential risks and rewards associated. Infortar will release further information regarding the approval of the prospectus in accordance with the Prospectus Regulation and will make such information available on the website of the EFSA (at and of Infortar (at The approval of the prospectus by the EFSA should not be understood as an endorsement of the securities.

Details of the Offering

The Offering will consist of (i) an offering to retail investors in Estonia (the “Retail Offering”) and (ii) an offering to qualified investors, within the meaning of Prospectus Regulation, in Estonia and certain member states of the European Economic Area (“Institutional Offering”). In addition, Infortar may, within the limits of the Offering decide to offer Shares non-publicly to investors in the member states of the European Economic Area based on other exemptions in the Prospectus Regulation. Public offering shall take place only in Estonia and Shares are not publicly offered in any other jurisdiction.

The exact structure and timing of the Offering is subject to, among other things, prevailing market conditions and the timing of receiving necessary approvals from the EFSA, as well as obtaining relevant corporate approvals and concluding necessary agreements.

Arrangers of the Offering are AS LHV Pank and Swedbank AS (“Arrangers”). Settlement agent of the Offering is AS LHV Pank.

Infortar - management board member Ain Hanschmidt:

“Infortar has become one of the biggest companies in Estonia with a revenue of billion euros, the next logical step is to be listed and public. Expanding the investor base and joining the stock exchange gives us an opportunity to grow even faster internationally, increase our asset value and find additional financing opportunities. For investors this means having access to a diverse and international, inflation and crises tested portfolio offering both real assets and growth potential.”

Infortar - managing director Martti Talgre:

“Infortar’s operating areas – energy, shipping and real estate are capital heavy, stable, with strong cash flow and high entry barriers. Investments to three different areas provide sufficient diversification whilst enabling to stay focused. A strong and diverse portfolio has given us the basis for continuing our growth. We have proven that we can make quick decisions and take advantage of new opportunities growing faster than the Estonian economy in general.”

Eesti Gaas - chairman of the management board Margus Kaasik:

„For a long time now, Infortar’s subsidiary Eesti Gaas, is no longer just “Estonian” and just “gas”. We have grown to become the biggest privately owned energy company in Finland and Baltic region, we are active in international energy trade and develop our renewable energy portfolio by production and sales of solar energy and biogas. Since being acquired by Infortar, Eesti Gaas has doubled its gas sale volumes, initiated the development of renewable energies and grown to become an international corporation.”

Infortar in brief:

Based on asset volume, Infortar is one of the biggest investment holding companies in the Baltics.[2] During over 25 year of active business, Infortar has gradually increased its investment portfolio and as of the date of this announcement the Group consists of 48 subsidiaries, additionally, the Group has made investments in 5 affiliate and joint-venture companies. The Group is focused on three main fields – energy, maritime transport and real estate, in addition, the Group has investments in fields supporting its main operations. Infortar tries to find synergies in its investments and focuses on creating well-functioning companies that have a prominent position on the market.

The management board of Infortar is highly experienced and its members are Ain Hanschmidt and Eve Pant. The managing director of Infortar is Martti Talgre.

Infortar makes its investments based on long-term social and economic trends whilst creating synergies amongst Group companies. Group’s investment action plan for the coming years includes projects with total volume of EUR 110 million, most important of which are Rimi office and warehouse building, expansion of Tallink Duty Free logistics centre, DIY store at Tallink tennis centre premises, Hiiu health centre and over 40 MW panel capacity solar parks in Estonia and Latvia.

In 2022 the Group’s consolidated revenue was EUR 1 054 million, EBITDA was EUR 120 million and net profit was EUR 96 million. In 2023 total dividend payments amounted to approximately EUR 16 million. Currently Infortar has issued 19,845,000 Shares.

Key strengths of Infortar

Infortar considers its main competitive advantages and strengths and strategies supporting its activities to be:

· Carefully designed investment portfolio and policies focusing on synergies;

· Capability and knowledge to be an active investor participating in decision making and taking responsibility;

· Unique know-how in managing large investments;

· Well diversified investment portfolio both geographically and by business segments.

Infortar strategy

Infortar’s strategy is to find synergies in its investments and create well-functioning companies that have a prominent position on the market with an aim to achieve stable and higher than average growth in investment value and a diverse portfolio with strong asset base and cash flow.

Group’s activities are focused on three primary business segments – energy, shipping and real estate.

Group’s strategy in energy segment is to expand existing and operational business models to new geographic markets, make balanced investments to transitional and renewable energy sources and create synergies between existing and new business lines.

Group’s strategy in real estate segment is to increase its real estate portfolio by purchasing and developing assets in Tallinn and its surroundings. Group invests in assets that match the object-specific criteria of quality, location, and yield.

Dividend policy

Infortar has established a dividend policy according to which Infortar aims to pay out as dividends at least 1 euro per Share per economic year. Dividend payments are executed twice a year.

Wide business profile of the Group is a good precondition for creating a stable cash flow. On the other hand, Group’s strategy requires significant investments and financial leverage. Thus, any future dividend payments and their sum depend on the future financial position of Infortar, results, capital requirements, Group’s liquidity needs, and other circumstances that Infortar may deem relevant from time to time. Proceeding from the foregoing and as according to Estonian laws, the decision to pay dividends is made by the general meeting of the shareholders, Infortar cannot guarantee that dividends will be paid in future or if they are paid, their sum. This section includes forward-looking statements which involve risks and uncertainties, relating to events and depending on circumstances that may or may not occur in the future (for further information, see “Important Notice - Forward-looking statements” below).

Infortar’s financial performance and key consolidated figures

9m 2023

9m 2022














Net profit.............................................















Net debt..............................................





Net debt/EBITDA.................................





Equity ratio (%) ...................................





Debt/Equity (%)....................................





ROA (%)..............................................





ROE (%)..............................................





Current ratio .......................................





Further enquiries:

Kadri Laanvee

AS Infortar head of investor relations


The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may or should be placed by any person for any purposes whatsoever on the information contained in this announcement or on its completeness, accuracy or fairness.

This announcement is an advertisement and is not a prospectus for the purposes of the Prospectus Regulation and is not an announcement of a public offer of securities. Investors should not make an investment decision with respect to securities referred to in this announcement except on the basis of information contained in the prospectus that is approved by EFSA in order to fully understand the potential risks and rewards associated. Infortar will release further information regarding the approval of the prospectus in accordance with the Prospectus Regulation and will make such information available on the website of the EFSA (at and of Infortar (at The approval of the prospectus by the EFSA should not be understood as an endorsement of the securities.

This announcement shall not constitute or form part of any offer to sell or the solicitation of an offer to buy, nor shall there be, any Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Any offer to acquire the Shares will be made, and any investor should make his investment, solely on the basis of information that will be contained in the prospectus and its supplements to be published in connection with such offering. If you do not understand the contents of this announcement you should consult an authorised financial adviser.

This announcement does not constitute a recommendation concerning the Offering. The price and value of securities and any income from them can go down as well as up. Past performance is not a guide to future performance. Information in this announcement or any of the documents relating to the Offering cannot be relied upon as a guide to future performance. Before purchasing any Shares, persons viewing this announcement should ensure that they fully understand and accept the risks which will be set out in the prospectus, when published.

In the European Economic Area, with respect to any Member State, other than Estonia, this communication is only addressed to and is only directed at “qualified investors” in that Member State within the meaning of Article 2(e) of the Prospectus Regulation.

This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for the Shares in the United States. The Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available. Infortar has not registered, and does not intend to register, any portion of the offering in the United States, and does not intend to conduct a public offering of securities in the United States. Any Shares sold in the United States will be sold only to qualified institutional buyers (as defined in Rule 144A under the Securities Act) in reliance on Rule 144A, or another available exemption from the registration requirements of the Securities Act..

The Arrangers are acting exclusively for Infortar and no one else in connection with the Offering. None of the Arrangers will regard any other person (whether or not a recipient of this announcement) as a client in relation to the Offering and will not be responsible to anyone other than Infortar for providing the protections afforded to their respective clients nor for the giving of advice in relation to the Offering or any transaction, matter, or arrangement referred to in this announcement.

In connection with the Offering, the Arrangers and any of their respective affiliates, acting as investors for their own accounts, may subscribe for and/or acquire Shares and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such Shares and other securities of Infortar or related investments in connection with the Offering or otherwise. Accordingly, references in this announcement to the Shares being issued, offered, subscribed, acquired, placed or otherwise dealt in should be read as including any issue, offer, subscription, acquisition, dealing or placing by, the Arrangers and any of their affiliates acting as investors for their own accounts. In addition, the Arrangers (or any of their respective affiliates) may enter into financing arrangements (including swaps) with investors in connection with which such Arrangers (or any of their respective affiliates) may from time to time acquire, hold or dispose of Shares. None of the Arrangers intends to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.

The Arrangers and their respective affiliates may have engaged in transactions with, and provided various investment banking, financial advisory and other services to, Infortar and its shareholder(s), for which they would have received customary fees. The Arrangers and any of their respective affiliates may provide such services to Infortar and its shareholder(s) and any of their respective affiliates in the future.

None of the Arrangers or any of their respective subsidiary undertakings, affiliates or any of their respective directors, officers, employees, advisers, agents or any other person accepts any responsibility or liability whatsoever, or makes any representation or warranty, express or implied, for the contents of this announcement, including its truth, accuracy, completeness, verification or fairness of the information or opinions in this announcement (or whether any information has been omitted from the announcement) or any other information relating to Infortar, the Group and their affiliates, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith.

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. All information presented or contained in this announcement is subject to verification, correction, completion and change without notice. However, Infortar does not undertake to provide the recipient of this announcement with any additional information, or to update this announcement or to correct any inaccuracies.

Forward-looking statements

Certain statements contained in this announcement, including any information as to the Infortar’s strategy, plans or future financial or operating performance constitute “forward-looking statements”. This information is presented based on the prognosis made at the time that in turn are based on the best assessment of Infortar’s management. Certain information is based on Infortar’s management opinions and presumptions and information available at the time. Any forward-looing information includes risks, uncertainties and expectations as to Group’s future activities, macro-economic situation and other similar factors. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “anticipates”, “projects”, “expects”, “intends”, “aims”, “plans”, “predicts”, “may”, “will”, “seeks” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the directors of Infortar concerning, amongst other things, Infortar’s results of operations, financial condition and performance, prospects, growth and strategies and the industry in which Infortar operates. By their nature, forward looking statements address matters that involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Infortar has no and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward- looking statements contained in this announcement to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based.

The validity and accuracy of all forward-looking statements are further affected by the fact the Group operates in the field of strong competition. This field is affected by changes in regulations (including EU), developments in taxation, competition, economic, strategic, political and social conditions, clients’ reactions to new and existing products and technological developments as well as other factors. Group’s actual results may differ from Infortar management’s expectations due changes in these factors. Other factors and risks may have a negative impact on Group’s activities, business of financial results.

[1] As per management assessment.

[2] As per management assessment.

Construction of first solar power station

Eesti Gaas, the largest privately-owned energy company in Finland and the Baltic region, has initiated the construction of its first solar power station in Latvia near Liepaja in Nica. The solar power station is expected to have a capacity of approximately 4 megawatts.

"We continue to diversify our energy portfolio and bring new solutions and megawatts to the market. In addition to the solar and green gas stations already operational in Estonia, we are starting the construction of solar stations in Latvia. Solar energy is the most predictable and community-accepted form of renewable energy," stated Margus Kaasik, the Chairman of the Board of Eesti Gaas.

"This location, Nica, is the sunniest place in Latvia, as confirmed by its name. In addition to Nica, which we can expand if necessary, we have selected two more locations in Latvia for the development of solar stations," added Kaasik.

The Nica solar power station, with an approximate capacity of 4 megawatts, equipped with large panels, is set to be completed next spring. It will supply electricity to the city of Liepaja, meeting the electricity needs of about a thousand households. The investment in the solar power station amounts to 2.7 million euros.

Eesti Gaas commenced solar electricity production in 2019 when it launched the then-largest solar parks complex in Estonia in collaboration with a company owned by the city of Pärnu, located on the former Rääma landfill. The Pärnu solar energy station consists of 13,000 panels with a capacity of 4.7 megawatts. In addition to this, Eesti Gaas has built several smaller solar stations across Estonia for its customers.

Apart from solar electricity production, Eesti Gaas is actively involved in renewable energy in the field of green gas, selling gas produced at the Oisu facility in Järvamaa, the Ilmatsalu facility in Tartumaa, and the Vinni facility in Lääne-Virumaa as automotive fuel in its CNG (compressed natural gas) stations. Green gas, or biomethane, is an environmentally friendly fuel promoting a circular economy, produced from biodegradable waste, manure, urine, and food waste.

Cornerstone of the new bridge in Pärnu

Mayor of Pärnu, Romek Kosenkranius and CEO of Infortar, Ain Hanschmidt laid the cornerstone for one of Estonia's largest infrastructure objects, the new bridge in Pärnu. The bridge with the longest span in Estonia, which will be completed by the summer in two years with new construction technology, will cost 26.7 million euros, including connecting roads, the investment will reach 40 million euros.

"The residents of Pärnu have been dreaming of a new bridge for years, and a year ago many assumed that this dream would never come true for Pärnu. However, this spring, the Pärnu city government signed a contract with the companies INF Infra OÜ and AS EG Ehitus, which belong to the Infortar group, and in the summer the picture has changed drastically in the construction industry on both shores. Apparently, no one doubts anymore that Pärnu will get a new, state-of-the-art arch bridge. The city's good cooperation with the builders and the pace of construction leave no room for doubt, the pillars of the new bridge can already be seen on the water, and the symbolic cornerstone of the bridge was also laid today. Of course, the bridge construction contract was preceded by a long and complicated preparatory work," said mayor of Pärnu, Romek Kosenkranius.

According to Ain Hanschmidt, the effect of the new bridge is manifold - citizens of Pärnu can move more easily and save time, builders can use new technological techniques and develop construction activities, and the region and economy as a whole will gain momentum.

"With this project, the city of Pärnu shows an example of how to revive the economy in the face of economic recession - investments in infrastructure increase the attractiveness of the region and bring multiple returns," said Ain Hanschmidt.

The new bridge in Pärnu will be the longest bridge in Estonia, with a span of 140 meters, and also the longest reticulated arch bridge in the Baltics and Finland.

Jacking of viaducts in Tallinn

Tallinn's Tondi district witnessed a groundbreaking engineering endeavor with the installation of two massive 500-ton viaducts. The construction process employed a specialised technique, strategically building the viaducts alongside the railway and later shifting them into position using hydraulic jacks and rails equipped with Teflon pads.

"If such large viaducts were built in their final location, railway traffic would be closed for several months due to construction. In Tondi, the viaducts were built next to the railway embankment and only then pushed into their final location. We were able to position the viaducts in two days, and the overall interruption of railway traffic lasted nine days," noted Robert Sinikas, a member of the board of INF Infra OÜ, an engineering and construction company belonging to the Infortar group.

"The solution proposed by engineers allows saving time in the construction of tunnels and bridges. Shortening the interruption time of railway traffic is critically important," said Sinikas.

The viaducts, weighing five hundred tons each, were moved into place in two parts, a method not previously used in Estonia for viaducts of such length. The tunnelling work was carried out by INF Infra OÜ, a company belonging to the Infortar group. The same company is currently constructing the longest arched bridge in Estonia in Pärnu, where a 1200-ton arched bridge structure will be assembled on the shore and then lifted into its final position over the river using special lifting equipment.

The main contractor for the construction of the two-level crossing at Tallinn's Tondi railway crossing is Leonhard Weiss OÜ, and the client is the Tallinn Environment and Utilities Department. The two-level crossing will be completed by the end of next year, and in addition to the viaduct, the access roads will also be renewed. The total cost of the project is estimated to be 9 million euros.

Watch the video of the jacking of Tondi viaducts:]

Eesti Gaas brings an additional ship to Finland

Eesti Gaas will bring an additional ship from the United States by November to serve Finland's gas consumption, the company is ready to bring additional supplies to the Inkoo terminal for this season.

"The market can handle the Balticconnector's situation, and based on the Inkoo terminal, it is possible to cover Finland's consumption volume - there is enough gas and tankers in America and Europe, additional ships can be ordered quite quickly, and the Inkoo terminal has previously operated in the mode of current gas demand," stated Margus Kaasik, Chairman of the Board of Eesti Gaas.

"In the last week, we have taken an important step forward - Gasgrid has announced the possible restart time of Balticconnector, and Inkoo Terminal has established the rules for the use of the terminal for this winter. Eesti Gaas, for its part, is ready to show that it is capable of being up to the task in a difficult situation and guaranteeing deliveries to customers," said Kaasik.

Eesti Gaas has tripled its LNG deliveries this year – instead of last year's five ships, the company is bringing already the 17th shipload of LNG to the region this year. One shipload of gas makes up about a quarter of Estonia's annual gas consumption. If before, natural gas reached Estonia mainly via a pipeline from Russia, this direction has been closed for nearly a year and a half and a full-scale turn to the west has taken place. Natural gas is now brought in liquefied form or LNG (liquefied natural gas) to the terminals in Inkoo in Finland and Klaipeda in Lithuania, where it is regasified and fed into the network or pipeline. The LNG supplies imported by Eesti Gaas have certificates of origin, the gas comes mostly from the United States and Norway.

Infortar and Alexela expand biomethane production

Infortar and Alexela started expanding the biomethane plants located in Oisu in Järva County and Ilmatsalu in Tartu County, as a result of which the plants can accept more food waste than before.

"We are taking the next step in local gas production - if until now we mainly produced biomethane from animal manure, now we can use food industry and other biodegradable residues as raw material more than before. This gives the food industries wider opportunities to participate in the circular economy," said Kristjan Stroom, CEO of Eesti Biogaas OÜ, a joint company of Alexela and Infortar. "Biomethane plants leave no footprints and solve several formulas at the same time - after agricultural and food industry waste, the next problem to tackle could be the reception and processing of urban residents' bio-waste, the plants are technically ready for this, in addition, it requires adaptation of national regulations, decisions of municipalities and organisation of logistics".

The production capacity of the three green gas plants opened two years ago with the support of a EUR 30 million investment will increase by a third after the expansion works, thus increasing the role of Eesti Biogaas as the largest producer of biomethane in the Baltics in achieving the goals of the green revolution. During the expansion, digesters and production equipment will be added. Construction works at the stations will be carried out by EG Ehitus.

The major customers of biomethane are the public transport companies of the cities Tartu, Rakvere and Pärnu, biomethane can be purchased as motor fuel at all Eesti Gaas and Alexela gas stations across Estonia. The annual amount of manure of one dairy cow can produce 200 kg of biomethane, which can be used to drive 5,000 km. In one household, 130 kg of biowaste is generated during the year, and the biomethane produced from it can drive a car 200 km.

Biomethane is a clean and high-quality motor fuel suitable for all CNG vehicles. The performance of an engine running on biomethane is the same as a gasoline engine, but it works more quietly and consumes significantly less fuel, the price of which is also 2-3 times cheaper. In addition to public transport, domestic passenger and freight transport could also be switched to green gas. Switching to local biomethane is today the only existing climate-neutral and competitive solution in the passenger and freight transport sectors to achieve the 2030 climate goals.

Biomethane, or green gas, is produced mainly from biodegradable waste, manure, urine and food waste. During the additional processing and purification of biogas, biomethane, or green gas, with a calorific value similar to natural gas is produced. Biomethane is the cleanest and most soot-free fuel that can be used in transport, only carbon dioxide and water vapor are released when burning biomethane. The residue of the fermentation process of the biomethane plant, or digestate, is transported to a storage or lagoon and from there to the field. Digestate is a high-quality and certified organic fertilizer from which plants can easily acquire nitrogen and phosphorus. Unlike manure, digestate has no smell and a lot of harmful methane remains unreleased into the environment.

Eesti Gaas triples gas supplies

Eesti Gaas, the largest private energy company in the Baltic states and Finland, will more than triple its LNG supplies this year – compared to last year's five LNG cargoes, the company will bring 16 shiploads of LNG to the region this year.

"One third of the LNG imports to the Baltic region and Finland come through Eesti Gaas - large volumes and direct contracts with the leading LNG suppliers allow us to offer our customers reliable and affordable supplies and increase our market share," said Margus Kaasik, Chairman of the Managment Board of Eesti Gaas.

"In less than a year, we made a complete turnaround to LNG of Western origin, the new supply routes from Norway and the United States were established and work well today, this has given the regional gas market more security and also helped bring down the price,“ Kaasik noted.

"Heading towards the new heating season, our gas consumers can have peace of mind - European gas storages are full and there will be enough gas. Towards winter, the price of gas is expected to rise somewhat, but according to all assumptions, the upcoming winter will be easier for consumers than the previous one," said Kaasik.

Of the LNG deliveries ordered by Eesti Gaas this year, four have come to Lithuania's Klaipeda and eight to Finland's Inkoo terminal. Until the end of the year, one more cargo to Klaipeda and three to Inkoo have been agreed. The company's major supply partners are the international energy groups Vitol and Total and Equinor of Norwegian origin. Eesti Gaas was the first to start using the new Finnish Inkoo terminal.

From last autumn's peak price of 2.85 euros/m³, the price for Eesti Gaas' household customers has fallen by more than 84 percent to 0.46 euros/m3 today. Larger gas price reductions took place in December of last year and in February of this year, when Eesti Gaas reduced the price of natural gas by 35 and 50 percent, respectively.

Operating in five markets - Finland, Estonia, Latvia, Lithuania and Poland – Eesti Gaas grew last year to become the largest private energy company in the Baltic and Finland region. The company offers its customers natural gas in the form of pipeline gas, compressed natural gas (CNG) and liquefied natural gas (LNG) and manages the largest gas network in Estonia and Latvia. Eesti Gaas is actively engaged in international energy trade and develops a renewable energy portfolio in the form of solar energy and biomethane production and sales. On export markets the company carries Elenger name.

Infortar is building a logistics centre for Rimi

In addition to the 18,000 square meter logistics centre, Rimi's 4,000 m2 head office and over 2,000 square meter central kitchen will be located in the building to be completed in the spring of 2025 in Laagri, Gate Tallinn business park.

"The real estate sector today offers opportunities for growth. We want significantly expand our real estate portfolio and bring it to the same level as our shipping and energy investments. The development of the Rimi logistics center is an important project for us and confirms the trust of a large international group," said Ain Hanschmidt, CEO of Infortar.

"We have been looking for a long time and considering various options for the development of a new office and a central warehouse - I believe that we have found the right location and a strong cooperation partner who will enable us to realise our wishes. The project makes it possible to bring logistics operations in Estonia under one roof, develop a modern central kitchen and build a modern office that supports modern and innovative ways of working. All this creates prerequisites for the further development and growth of Rimi in Estonia and helps to serve the stores in the best way," said Vaido Padumäe, CEO of Rimi Estonia.

The builder of the building is INF Ehitus and the developer is AS Infortar. The development of the logistics center was started in 2021 by Lumi Capital, which signed a lease agreement with Rimi Eesti and prepared the project up to the construction stage, and continues today as a minority shareholder.

Eesti Gaas has agreements for receiving ten LNG cargos

Eesti Gaas has made agreements with LNG terminals to bring a total of ten LNG cargos by the fall of this year – three deliveries to the port of Klaipeda in Lithuania in the winter and seven to the port of Inkoo in Finland in the spring and summer.

“Our gas now comes from the west and by tankers, cooperation with both large LNG terminals in the Finnish-Baltic region and the gas storage in Latvia gives us stability. Our ten LNG cargos will bring security of supply to customers and, hopefully, together with the gas also comes price stability,” said Margus Kaasik, CEO of Eesti Gaas.

“In the big picture, natural gas is making a comeback. The use of natural gas is increasing again since the security of supply in Europe is good and the price is in a downward trend. Gas price has returned to pre-war price levels, and gas is once again cheaper than, for example, light heating oil or propane. Several customers on our different markets, who used alternative fuels in the meantime, are already returning to natural gas today,” Kaasik said.

Last year, Eesti Gaas procured five shiploads of LNG for its customers through the port of Klaipeda. The LNG tanker Aristidis I from the United States arrived at the Lithuanian Klaipeda terminal in May, Diamond Gas Crystal from the United States and Arctic Princess from Norway in June, Isabella from the United States in October, and Arctic Aurora from Norway in November.

In January, Equinor’s LNG tanker Isabella delivered this year’s first cargo from the United States to the Lithuanian port of Klaipeda. In March, Eesti Gaas will bring two more cargos to Klaipeda and in the spring and summer seven more to Inkoo.

Cornerstone ceremony of Liivalaia 9 office building

On August 23, the cornerstone of a new office building was laid on Liivalaia street, the nine-story commercial building will be completed in one of Tallinn's busy areas already in the spring of next year.

"We are bringing our investments, i.e. subsidiaries from the city, together in one building, at the same time we will significantly increase the value of our real estate portfolio and assets, and the city will also get a nice building." Real estate is the third important field for us, next to shipping and energy, in which we see significant growth in the coming years, this week it is already the second cornerstone for us - on Monday we started the second phase of the Hiiu health campus," said Ain Hanschmidt, chairman of the board of Infortar.

Chief construction worker Inf Ehitus board member Ahto Aruväli said that in today's unpredictable situation, the prerequisite for success is the existence of trust and support between the client, the architect and the builder. "In this case, it is still a demanding object and quite a challenge for the builder, especially due to the complex location and the smallness of the plot - all this requires good planning, a professional team and the ability to be flexible when necessary," said Aruväli.

According to Indrek Tiigi, the architect of the office building and chairman of the board of Allianss Arhitektid, the high-rise building will have a minimalist formal language, and it will offer good views of the whole of Tallinn. "The building has been designed with a good working environment as a priority - the workspaces have been created with exemplary access to natural light and panoramic views. We envisioned a big change in the solution of Süda street, where we will build a boulevard in the front part of the building," said Tiigi.

The closed gross area of ​​the nine-story building at Liivalaia 9, one of Tallinn's busiest streets, is 7,500 m2. The building will be energy efficient and will be equipped with modern and healthy indoor climate systems. The facade is covered with anodized aluminum and perforated aluminum lamellas providing additional sun protection. A bicycle storage facility will be located in the building to promote healthy modes of movement and carbon-neutral transport.

The Pärnu bridge is being built by companies of the Infortar group

The Pärnu city government signed a design and construction contract for the construction of a new bridge in Pärnu worth 26.7 million euros with the engineering and construction companies INF Infra OÜ and AS EG Ehitus, which won the state tender.

"Today is definitely a historic moment. For decades, there has been talk of building a new bridge over the Pärnu River, and for the past five years we have been intensively working on finding solutions to several problems - the selection of the bridge's location, detailed planning, construction procurement, financing of the bridge," said Romek Kosenkranius, the Mayor of Pärnu.

"We understand the importance of the new bridge and will make the maximum contribution to the success of the project. Besides shipping and energy, Infortar has also become one of the largest real estate and mineral resources and the fastest growing engineering construction company, we have put together a very experienced team to build bridges and infrastructure objects," said Ain Hanschmidt, chairman of the board of Infortar.

"We use innovative solutions and technologies in the, which allow the people and the city of Pärnu to significantly save time and money, and ultimately get the bridge completed earlier and at a more affordable price. Innovative construction technology helps to reduce construction cost, completion time and environmental impact," said Robert Sinikas, board member of INF Infra OÜ.

INF Infra received maximum points for the Pärnu bridge tender: their offer was the cheapest and the construction time was the fastest. The price offered by INF Infra was 26,666,665 euros including VAT and the construction time is 22 months.

The new bridge in Pärnu will be the longest bridge in Estonia, with a span of 140 meters. It will also be the longest net arch bridge in the Baltics and Finland. The authors of the bridge are engineers Andreas Papp and Dmitri Gorbatjuk from Stricto Projekt OÜ.

The cornerstone was laid for the health center in Kivimäe, Tallinn

On August 22, the cornerstone was ceremonially laid for health center building, where Kivimäe Family Medical Centre, Haldja Dental Clinic and Vilde Farmacy will start operating from the beginning of next year. According to Ain Hanschmidt, chairman of the board of Infortar, in addition to top hospitals, primary medicine also needs development, better working conditions and environment than before. "If Infortar means this step forward in the development of the Hiiu health campus and the growth of the Kivimäe Family Medical Centre, it shows the concentration of services in modern health centers," said Hanschmidt. According to Lembi Põlder, manager of the Kivimäe Family Medical Centre, they are extremely happy that thanks to the cooperation with Infortar, the Kivimäe Family Medical Centre has the opportunity to expand and offer its patients even better care than before. "Thank you for the supportive attitude of the Nõmme district and all the residents of Nõmme, whose health concerns we have been able to find a solution to. We hope that the new premises and the expanding centre will also provide an opportunity to expand our team, and through this the satisfaction of patients will also increase and the availability of medical care close to home will improve," said Põlder. The Kivimäe Health Centre is located on the border of Nõmme and Kivimäe in the ecologically valuable park at Põllu 63. The building to be completed at the beginning of next year the architect is Indrek Suigusaar from Pluss Architects, and the main construction contractor is INF Ehitus, a member of the Infortar group. Kivimäe health center is the second building of Hiiu health campus, the first one was completed in 2016.

Infortar joins the Alexela LNG terminal project in Paldiski

The common goal of the two Estonian companies is to launch the terminal by November this year and thus ensure the security of supply to consumers.

“In our opinion, the liquefied natural gas terminal in Paldiski should be a public terminal. It is expected that other market participants, as well as investors, will join the project. If the government sets an exact deadline for phasing out Russian gas, and Elering builds a pipeline connection, the private sector will be able to solve the problem by joint efforts and launch the terminal by the beginning of the heating season this year,” said Mr Heiti Hääl, Chairman of the Board of Alexela Group, announcing that the investment company Infortar joins the LNG terminal project in Paldiski.

“Estonia and the Baltic Sea region as a whole need diverse and sustainable energy solutions to maintain competitiveness and economic development. Residential consumers, industry, transport and heat generation expect convenience, reliability and safety from the new energy – all this is provided by new generation LNG gas. For Estonia, the construction of the terminal would also mean a historic opportunity to play the role of an “energy battery” for the entire region,” said Mr Ain Hanschmidt, Chairman of the Board of AS Infortar.

The LNG terminal in Paldiski will be built in two phases: the first phase includes the construction of a connection between the berth and Balticconnector, as well as the rental of a floating terminal, while the second phase will build a permanent solution for the terminal. The cost of the terminal infrastructure, which will be completed this autumn, reaches 40 million euros. Negotiations are underway on the lease of a floating terminal, a tender for construction will be completed in the coming days, and the first prepayments for the supply of building materials have been made. This month, dredging and construction of the mooring pit will begin in Pakrineeme.

Alexela and Infortar are also cooperating with Latvian and Finnish market participants to ensure energy security in all three countries during the coming heating period. In addition to Estonia, the LNG terminal in Paldiski will cover at least 80% of Finland’s gas needs.

Alexela and Infortar have many years of cooperation experience in OÜ Eesti Biogas, Estonia’s largest jointly owned biomethane plant producing biomethane from local feedstock in Vinni in Lääne-Viru County, Ilmatsalu in Tartu County and Oisu in Järvamaa. In addition to Paldiski, Alexela is building an LNG terminal in Hamina in Finland. Through its subsidiaries, Infortar has one of the most extensive shipping and LNG competencies in the region. Last year, Estonia’s first LNG bunkering vessel Optimus was built on Infortar’s order.

Baptising Ceremony of Optimus

Energy group Elenger’s liquefied natural gas (LNG) bunkering vessel has arrived to Estonia from a Dutch shipyard to become the first of its kind in the region. The service area of the LNG bunkering ship will comprise the part of the Baltic Sea centred around the Gulf of Finland. The ship, named Optimus, was christened with the Estonian Prime Minister Kaja Kallas, as the ship`’s godmother.

“This is the first such bunkering vessel in our region to start supplying LNG fuel to ships,” said Ain Hanschmidt, Chairman of the Supervisory Board at Elenger, adding that the new vessel will contribute to preventing nearly 2 million tonnes of CO2 emissions during its lifecycle and will allow shipping companies to provide clients with a smoother and quieter travel experience.

Within a matter of a few years, Elenger Marine, has become the largest LNG bunker services supplier in the Baltic region, delivering LNG to Tallink’s shuttle Megastar(with Tallink’s new shuttle MyStar to join next year) as well as to a number of cargo vessels in the ports of Tallinn, Helsinki and Hanko.

The vessel can bunker tankers, cargo ships, passenger vessels and cruise ships in ports and in offshore waters. It’s tanks and pumps allow for up to 6000 m3 of liquefied natural gas to be delivered to clients at a rate of up to 1000 m3 per hour. The LNG bunkering vessel, which is almost a hundred metres in length, was built by the Dutch company Damen.

“We are very pleased to be playing a significant role in making sustainable shipping more accessible to ship-owners and operators in the Gulf of Finland,” added Peter Anssems, Damen Sales Manager for East Europe. “We are confident that Optimus will give many years of productive service to Elenger.”

Capable of carrying 6000 m3 of liquefied natural gas, the vessel belongs to the investment company Infortar and will be commercially operated by Elenger Marine. The construction of the ship was co-financed by OP Bank, and aid was granted by EU CEF (Connecting Europe Facility).