Press releases

Modus Group revised its governance model:
Ainė Martinkėnaitė-Martyniuk appointed as the new CEO

The international group of companies Modus Group revised its governance model, renewed the Management Board and appointed the new CEO. Starting from August, the latter position will be taken by Ainė Martinkėnaitė-Martyniuk who has been working in the group companies for more than 10 years. She will replace Kęstutis Bagdonavičius, PhD who will continue serving on the Supervisory Board. These changes reflect the first stage of renewed Modus Group governance model implementation. According to it, it is foreseen to give the group companies greater autonomy in the decision making process.

Modus Group revenue exceeded half-billion euros, investment grew 2.5 times

The audited consolidated revenue of Modus Group, an international group of companies mainly operating in renewable energy, mobility, and automotive areas, rose by nearly 50 percent and exceeded EUR 504 million last year. The Group continuously grew its investments in different business areas in Lithuanian and foreign markets. Compared to 2018, the company‘s total investments increased by 2.5 times, reaching almost EUR 159 million.

Modus Group joined UN Global Compact initiative

Modus Group became a member of the United Nations (UN) Global Compact, the largest voluntary corporate sustainability initiative in the world. By joining the initiative Modus Group commits to support and implement the Ten Principles of the UN Global Compact on human rights, labor, environment and anti-corruption and advance the broader development of the UN goals.

Modus Group renewable energy business will operate under the single Green Genius brand

Modus Group, international group of companies, concentrates renewable energy operations under the single Green Genius name. The decision to use one brand was made while preparing for the stage of rapid international growth.

Modus Group expands its business operations in Poland: EUR 25 million will be invested in biogas projects in 2020

Modus Group is expanding the geography of biogas activities and starting operations in Poland. The plans for 2020 are to develop 5 biogas plants with a total capacity of 5 megawatts (MW). Over EUR 25 million will be invested in these projects, and the plants are scheduled to start operations in 2021.

CityBee completes its first electric scooter season, notes clear differences among the Baltic countries

CityBee, the largest provider of shared mobility services in the Baltics, ended longer than six-month electric scooter season. During this period the company’s clients in three Baltic countries made nearly half a million trips. Customers’ habits show an increasing need for micro-mobility services, therefore, CityBee plans to offer electric scooters again next year.

Modus Group revenue growth in the first half of 2019 was driven by expansion

The revenue of Modus Group in the first half of 2019 reached EUR 226.3 million. Compared to the same period of the last year, the revenue increased by one third. The growth was mainly driven by actively investing in expansion, especially in new markets. The company’s EBITDA (earnings before interest, tax, depreciation, and amortization) reached EUR 34.4 million.

Modus Group Solar Power parks in Poland has been acquired by the Leading Global Asset Manager

Modus Group Solar Power parks in Poland has been acquired by Aberdeen Standard Investments. This is the biggest transaction for solar power parks in Poland so far.

EBRD supports Modus Group expansion in Belarus

The EBRD is supporting renewable power generation and a better energy supply mix in Belarus with the provision of a US$11.3 million loan for the construction of two biogas plants in the country.

Modus Group to bring a new carsharing service to Latvia and Estonia

Together with CityBee, an international group of companies Modus Group is expanding their car-sharing service into Latvian and Estonian markets.

The Jeep importer in the Baltic States is changing

The international group of companies Modus Group, with 18 car brands in its portfolio, has become the official importer of Jeep cars manufactured by Fiat Chrysler Automobiles (FCA) in Lithuania, Latvia and Estonia.

Modus Energy Launches Construction of 12 Solar Power Plants in Poland

Electricity generated by the power plants will be sold to Polish electricity network operators.

EBRD to Finance Modus Energy Biogas Projects in Belarus

Modus Energy will build four biogas power plants in Belarus.

Modus Group expands the CityBee service to Poland

The international group of companies Modus Group is expanding one of its strategic areas, the CityBee car-sharing service, to the Polish market.

Aberdeen Standard Investments acquired a 40.4 MW solar portfolio from Green Genius

Aberdeen Standard Investments (ASI) and Green Genius, part of the Modus Group international group of companies, have finalised a transaction whereby ASI will acquire a 100% stake in a 40.4 MW turnkey portfolio of ground mounted solar photovoltaic (“PV”) farms from Green Genius.

Kęstutis Bagdonavičius to become the new CEO of Modus Group

Effective 1 April, Kęstutis Bagdonavičius, PhD will become the new Board Member and CEO of Modus Group. He will replace Liudas Liutkevičius who has been holding this position for 3 years and who will continue serving on the Board. K. Bagdonavičius will also be nominated to become Chairman of the renewed Modus Group Board. 

Green Genius launches a new biogas power plant in Belarus and plans to build two more

Green Genius, a renewable energy company that is part of Modus Group, has successfully launched new biogas power plant in Belarus. Total of more than EUR 5 million was invested into this project. 1 megawatt (MW) biogas power plant is located in Brest Region. The funding for this project was provided by European Bank for Reconstruction and Development (EBRD).

Modus Group awarded for its investments in Poland

Embassy of the Republic of Poland to Lithuania awarded Modus Group for its investments in solar energy development in Poland. The prize to Modus Group was granted during the annual event “Polish Business Awards 2019”, where the most important Lithuanian and Polish business events that are strengthening the countries mutual economic relations are recognized.

Modus Group expands its business operations in Poland: EUR 25 million will be invested in biogas projects in 2020

Modus Group is expanding the geography of biogas activities and starting operations in Poland. The plans for 2020 are to develop 5 biogas plants with a total capacity of 5 megawatts (MW). Over EUR 25 million will be invested in these projects, and the plants are scheduled to start operations in 2021.

Modus Group to invest 38 million euros in solar energy in Spain by the end of 2020

International company Modus Group plans to invest at least 38 million euros in the installation of solar power plants in Spain by the end of 2020. Green Genius, a company owned by Modus Group, is planning to achieve a ready to build phase of solar power plants of an aggregated capacity of over 100 megawatts (MW) in this market during 2020. Altogether, the portfolio of solar power plants managed by Green Genius in Spain is expected to grow to 560 MW in the next five years.

CityBee e-kick scooter sharing service is available in three more cities

CityBee expands its e-kick scooter sharing service in Lithuania. Now it is available in three more cities – Kaunas, Klaipėda and Palanga. Therefore, total number of e-kick scooters in the country has reached nearly 1 thousand.

Last year, Modus Group’s revenue rose by 26% and EBITDA by 30%

The revenue of Modus Group reached EUR 342.94 million,  the company earned EUR 28.54 million before interest, taxes, depreciation and amortization (EBITDA). Compared with 2017, the company’s revenue and EBITDA rose by 26% and 30%, respectively.

Modus Group signs the largest loan in the Polish market to finance solar power projects

The international group of companies Modus Group and Poland based mBank have signed a EUR 10 million loan to finance solar power projects in Poland.

Modus Energy has completed 4 biogas projects in Belarus

Renewable energy company Modus Energy has completed the construction of 4 modern biogas power plants in Belarus.

Modus Group invests 30 million euros in solar power plants in Ukraine

Modus Group further implements strategy of renewable energy project expansion in Europe.

"Modus Group" Starts Trading Bonds on Nasdaq Baltic First North Market

Modus Group will list its bonds on the Nasdaq Baltic First North alternative market starting 26 February 2018.

Merger: “Parkdema“ + “UniPark“

A car parking company “UniPark“, belonging to an international group of companies “Modus Group”, and a company “Parkdema”, have entered into a merger. 

Green Genius completed large scale solar energy projects in Poland and Ukraine and is planning a new stage of growth

Green Genius, a renewable energy company that is a part of the international group of companies Modus Group, has successfully implemented large scale solar energy projects in Poland and Ukraine. The company implemented solar parks with a total capacity of 74 megawatts (MW) in these markets, more than EUR 66 million was invested in these projects. Green Genius has already secured financing for the new solar energy parks development in Poland and is starting a new stage of growth in the country.

Green Genius expands its business operations into Hungary and Romania

Green Genius, a renewable energy company owned by the international group of companies Modus Group, starts its operations in two new markets – Hungary and Romania. Here the company will develop solar energy projects. Green Genius plans to implement projects with a total capacity of more than 450 megawatts (MW) with a foreseen investment of EUR 300 million in the upcoming years.

Green Genius has secured EUR 30 million financing from Eiffel Energy Transition fund for renewable energy projects

Green Genius, a renewable energy company that is part of Modus Group, has signed a EUR 30 million loan with Eiffel Energy Transition fund. The company plans to use these funds to develop and build green energy projects across Europe.

Modus Group implemented their first solar energy project in Ukraine

Green Genius, renewable energy company of the international holding Modus Group, has successfully implemented their first solar energy project in Ukraine. Over EUR 11 million were invested in this project. The solar power plant in Ivano-Frankivsk region in the western part of the country has a capacity of 13.5 MW.

Interconnected Baltics: CityBee car-sharing now in Tallinn too

Residents and guests of Tallinn can now use shared-transportation provider CityBee’s cars. Expansion in Estonia, involving investments of 2 million euros, has enabled CityBee to become the first and so far only car sharing platform to operate in all three Baltic countries. 

CityBee strengthens its positions in Latvia with 200 cars

Starting today, residents and guests of Riga can also use CityBee cars. A total of 200 urban bees have rolled onto the streets of the Latvian capital, with plans for 300 cars in Riga by the end of the year.

Modus Group to invest 36 million euros for solar PV projects in Poland

Modus Group is starting a new stage of solar power parks construction in Poland. The company plans to install 41 new solar power parks with a total capacity of 41 megawatts (MW) there. The construction of the solar power plants is scheduled to be completed by the beginning of 2020.

€ 4.5 million project – Modus Energy expanded biogas plant in Vievis

A new state-of-the-art biodegradable materials processing line is entering its final completion stage near Vievis. The project has been completed by Modus Energy. The investment exceeded 4,5 million EUR.

Modus Group plans to spend €110 million to turn CityBee into one of the biggest car-sharing companies in Europe

Modus Group is investing 110 million euros into a major upgrade of its fleet for CityBee, its car-sharing service in the Baltics and soon Poland.

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.

A new brand is joining Modus Group family of businesses

We are happy to present to you Green Genius: a Lithuanian Start-up that offers to install free solar panels to generate electricity cheaper!

The Modus Group has opened its official Bentley representative office in Lithuania

The legendary British Bentley cars are now available at the official representative office in Lithuania. 

Modus Group founds new Investment Management Company

Modus Group, one of the largest groups of companies in Lithuania, has set up the investment management company ModusAsset Managment. 

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