Over 3.6 million litas for „Axis Industries“ innovations.

2008-07-17

Innovations of „Axis Industries“, the largest group of companies in Lithuania engaged in industrial and power industry projects, this year will total 3.6 million litas. Of this, 2 million litas will be assigned by the Group, and 1.6 million is expected to be attracted from the EU structural funds. Last year „Axis Industries“ assigned 2.2 million litas of its assets for innovations and the EU structural funds contributed 1.7 million litas of support.

“Intending to increase the Group’s potential in the development of new projects, this year we are planning to expand the infrastructure of scientific research and technology development of „Axis Industries“. This step will help us to facilitate the development of innovations in fuel boiler stations which become increasingly relevant for Lithuania in view of the ever increasing prices of fossil fuel”, said Remigijus Baltrušaitis, general manager of „Axis Industries“.

The Group of companies is planning to get the support from the EU structural funds for this project – „Axis Industries“ has submitted an application “Development of combustion research laboratory of various biofuel types, and development of metering unit analysis laboratory” for the “Intellect LT+” facility administered by the Lithuanian Business Support Agency.

According to R. Baltrušaitis, the Group of companies is planning to invest in the complex modernisation of the new generation of metering devices, and technological process of modern biofuel boiler manufacture. A part of funding required for this project is expected to be received from the EU structural funds - the application “Acquisition of modern technological equipment and plant for the production of new generation metering devices and biofuel boilers” was submitted to the Lithuanian Business Support Agency administrating the facility “Leader LT”.

“This year we are not only planning the investments in a new product but also may boast the accomplished innovation projects”, R. Baltrušaitis said. This year the Group of companies will complete the project they have started in 2006, dedicated to the development of a new generation of automated energy accounting and management system enabling the remote control of automatic heating substation modules. In the beginning of this year „Axis Industries“ received an EU patent for a new product – ultrasonic flow sensor.

In the development of new products, the Company co-operates with specialists from Kaunas University of Technology, Lithuanian Energy Institute, and Hydrometer and Qvedis (Germany) laboratories. Innovation Department of Axis Industries currently employs 38 employees.