INVEST LITHUANIA: SAULETEKIS VALLEY TO HOST A SILICON VALLEY COMPANY
Updated 2011-10-18
The Sauletekis Valley in Vilnius is to become a home for the subsidiary of Levanta Scientific, a US industrial engineering and manufacturing company, which operates in the Silicon Valey renowned for its advanced technologies. The €4.7 million (LTL16.2 million) project is expected to draw up to LTL3.7 million in the European Union’s structural funding.
The new company at the Sauletekis Valley will offer up to 80 new jobs for specialists in the fields of chemistry, microbiology, and engineering.
This is what the letter of intent, signed today in San Francisco by Levanta Scientific’s general manager Michael Bryan, says. Earlier, the document has been inked by Rimantas Žylius, the Lithuanian minister of economy.
The company established by Levanta Scientific in Vilnius is to carry out scientific research and develop technologies required to make hypochlorous acid and sodium hydroxide. The substances are used for disinfection and degreasing and will be produced with water and salt using an electrochemical technology. The products are to be supplied to local and foreign pharmaceutical and food companies.
“Solid investment is to arrive at the Sauletekis Valley. It will enhance the basis of scientific research and development enabling the creation of innovative products and, what’s even more important, it will spur the advance of science in the country. The investment of this type is vital for Lithuania because the expansion of the technology-oriented business parks enables us reap benefits from the co-operation between business and scientific communities,” Žylius said.
Levanta Scientific, based in Dover, New Hampshire, was established in 1997. Many of the manufacturing equipment produced by the company are tailor-made to fit to specific requirements of its customers. NASA, the US Navy, MIT, the Smithsonian Astrophysical Observatory and other organisations are on the company’s customer list.
"Lithuania, which has excellent specialists and the required infrastructure, offers us good perspectives for the development of our business. A constructive cooperation with Invest Lithuania, which helped us a lot in clarifying many of the investment-related issues, has added considerably to our choice,” said Michael Bryan, general manager of Levanta Scientific.
On the third year of operation, the new company plans to export 40 percent of its production to Russia, Europe and the Americas.
"invest Lithuania", www.investlithuania.lt
