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A new brand comes to the Modus Group

The international group Modus Group is expanding one of its strategic areas of renewable energy and is establishing a new company, Axton Commodities. The activities of the new market player will include wholesale power, guarantees of origin and European emission allowances; the company will also provide solar and wind power generation planning and balancing services.

“Developed markets are characterised by the abundance of professional trading
companies. However, there is a shortage of such companies in the Baltic wholesale power market. With the help of the team’s trading experience and long-term trading partners in the Baltic and Scandinavian markets, we have decided to fill this niche. With this step, we will increase market liquidity: traditional market participants will be able to better manage the risk related to the fluctuations in market prices by transferring it to us,” says Aldevinas Burokas, CEO of Axton Commodities.

According to A. Burokas, in response to market trends, Axton Commodities will be
able to offer long-term fixed-price products to its suppliers and purchase power from producers according to their production profile. On demand, the company will offer long-term power purchase agreements and renewable energy planning and balancing services.

According to Liudas Liutkevičius, Chairman of the Modus Group Management Board, the history of the new brand started with a powerful idea and an investment proposal. A group of companies, as an investor, focuses on strategic areas for renewable energy and mobility; the Axton Commodities vision is also included in the latter.

“Having listened to the proposed business model and evaluated the growth potential, we relied on this idea and decided to invest in it - we became shareholders of Axton Commodities. We have been discussing internally for some time the development of competencies and business in the field of renewable energy. The whole group adheres to the principles of developing solutions that will be relevant tomorrow - investing in the future and supporting green business models. We are open-minded: if we get more, powerful ideas like Axton Commodities, we will invest in them as well,” says L. Liutkevičius.

The Modus Group has been operating in the field of renewable energy since 2006
when the renewable energy company Modus Energy was established to develop
biogas and solar energy projects in Lithuania, Poland, Spain and other European
countries; in the spring of 2018, Modus Group established one more company,
Green Genius, to provide solar energy as a service.

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