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Portuguese company CaetanoBus sells a fleet of Hydrogen buses to Deutsche Bahn, Germany’s national railway company. Under this agreement, Italy’s main bus manufacturer, IIA, will market the Hydrogen buses that are produced by CaetanoBus and co-branded with Toyota. From 2024, IIA will start direct production of buses for international markets that will be equipped with the H2.City Power Kit developed by CaetanoBus. Portuguese manufacturer CaetanoBus will deliver 60 units to Germany’s national railway company, Deutsche Bahn, in 2024. The buses will be equipped with the H2.City Power Kit, that is a module engineered by CaetanoBus for a Hydrogen energy control system. The system uses Toyota’s Fuel Cell module, LTO battery, and Hydrogen tanks. The new technology will optimize the energy generated from hydrogen for lower consumption. According to CaetanoBus, the choice of Italian company IIA to market the buses, is a strategic partnership for entering the European Market with the same vision of obtaining zero-emission. Patrícia Vasconcelos, the CEO of CaetanoBus, stated that “in terms of mobility, Italy is a country that has sought to adopt measures aimed at decarbonizing the economy.” CaetanoBus, that is part of Toyota Caetano Portugal and Mitsui & Co, is a bus and chassis manufacturer in Portugal. CaetanoBus is also the manufacturer of COBUS, the world’s market leader in airport bus transportation. CaetanoBus and Toyota strengthened their strategic alliance in December 2020, when Toyota Caetano Portugal became a direct shareholder of CaetanoBus, for further expansion of sustainable mobility solutions. Since July 2021, the zero-emission buses from Caetano are co-branded with Toyota. #CaetanoBus #hydrogenbusesportugal #madeinportugal #DeutscheBahn #IIA #Toyota #ToyotaCaetanoPortugal #COBUS #portugalnews #portugalbusinessnews

AFP reports that Portugal’s textile sector has a competitive advantage over Asia and clients are now turning to Portugal as the country has the reputation for innovation. According to AFP, Portugal's textile industry, that was shaken in the last 20 years by competition from Asia, has now found its footing again and has become a major player, supplying not just to Europe but also to the United States. Since Portugal has invested in R&D for manufacturing, it is now competing with Asian countries. The Textiles & Clothing Technological Institute CITEVE develops new fibers produced from recycled materials and dyes derived from natural products. The AFP news report adds that delays in deliveries during the pandemic pushed textile producers to use supply chains closer to home. Portugal also has increased efficiency, with all textile factories being located in a hub in a radius of about 50 kms. In the north of Portugal, there are around 5,000 companies and 100,000 workers. Exports of textile products from Portugal in 2021 hit record sales of EUR 5.4 billion, that is over 16% more than the previous year. Riopele is one of the country’s biggest producers and the factory has nearly 200 state-of-the-art weaving machines that run 24hrs a day, 6 days a week. In 2022, Portugal’s textile industry did better than expected with inexpensive labor, flexibility as well as innovation as key drivers of success. Portugal’s vision of an eco-friendly and sustainable textile sector means that the sector will be decarbonized within 15 years, according to the President of the Portuguese Textiles Association. Already, many textile factories have decarbonized industrial production by 70%. #AFP #textilesectorportugal #CITEVE #biotextilesportugal #Riopele #sustainabletextilesportugal #madeinportugal #portugalnews #portugalbusinessnews #ATP

Financial Times includes Portuguese companies in its FT1000 ranking 2023 of Europe’s Fastest Growing Companies. As the ranking is based on revenue growth in the three years to 2021, this shows how many businesses thrived despite the lockdown, or in many cases, because of it. Plásticos Dão ranks 295th and produces paper bags and bio-plastics. Portuguese company SweetCare, that distinguishes itself in the E-Commerce Category for beauty and wellness, ranks 305th. IT company Singularity Digital Enterprise ranks 499th and Software company Imaginary Cloud, that provides services in the US, the Middle-East and Northern Europe, ranks 807th. #FT10002023portuguesecompanies #EuropeFastestGrowingCompaniesportugal #ImaginaryCloud #SingularityDigitalEnterprise #SweetCare #ITsectorportugal #ecommercesectorportugal #portugalnews #portugalbusinessnews #FinancialTimes #Statista #PlásticosDão

Benetton will move half of its production to the Mediterranean as well as Portugal by the end of 2023, in order to diversify its sourcing and production hubs. Benetton has already relocated more than 10% of its production from Asia to Serbia, Turkey, Tunisia and Portugal. However, textile manufacturing in Turkey has been hit by the recent earthquakes, with around 500 apparel factories in the earthquake region that have been affected, according to a Reuters report. The fashion industry, that recovered quickly from the lockdown and registered a global growth of more than 11%, slowed down due to inflation, war in Ukraine as well as China’s zero COVID policy according to Euromonitor. Since supply chains have also been hit, companies are moving production away from China. Moreover, industry players now want to invest in their supplier relationships instead of choosing the cheapest supplier that produces large volumes quickly. The focus is now on risks and reputation. Fashion companies are now turning to more circular business models to reduce supply chain risks. It means developing new business models that require the production of lower volumes, as well as using more materials from low carbon, circular sources as well as innovative textiles. #Benettonmovesproduction #Benettonportugal #textilemanufacturingportugal #fashionindustry #textilesectorportugal #Benetton #portugalnews #portugalbusinessnews

Imvizar has secured €800,000 for its Augmented Reality platform for 4 countries including Portugal, Ireland, the US, and Australia. Among the seed investors are Gareth Lambe, the former head of Meta in Ireland. The company is currently developing visitor attractions and cities in Ireland, the UK and Portugal. In Portugal, Imvizar is already generating revenue from its attraction in Aveiro, the Venice of Central Portugal. The app leads visitors to a branded AR attraction that appeals to the under 35s. For Aveiro, an immersive experience celebrates the life of Eça de Queiroz, one of Portugal's most famous writers and the role his grandfather, Joaquim Jose de Queiroz, played in the revolution of 1828. According to Business Plus, Imvizar has secured seed investment for developing immersive experiences for tourism and entertainment with the aim of collaborating with tourist attractions, artists, influencers and universities. Irish company Imvizar had already raised €550,000 from angel investors in December 2022. Imvizar's immersive AR experiences, that blend tech and storytelling, are revolutionizing the way tourists engage with the history and culture of a destination. #Imvizar #Imvizarportugal #augmentedrealityportugal #EçadeQueiroz #ARPortugal #tourismnewsportugal #portugalnews #portugalbusinessnews

EDP will increase its capital by EUR 1 B to fund a takeover bid for EDP Brazil. The capital increase will be through investment agreements amounting to EUR 600 million with major shareholder China Three Gorges, with Singapore sovereign fund GIC Private Limited and with the Investment Authority of Abu Dhabi according to Negócios. The takeover bid, that is for 100% of the capital of subsidiary EDP Brazil of which EDP now holds 56%, will also lead to removing the company from the stock exchange in order to simplify management. Within this framework, EDP will invest EUR 25 B by 2026 to develop 17 GW from renewable sources, while EDP Renewables will also increase its capital by EUR 1 billion that will be entirely funded by the Singapore sovereign fund. EDP stated that the success of this operation will strengthen the focus on renewable energy while reducing the risks linked to hydroelectric generation and also ceasing operations in the field of thermoelectric production. #EDP #EDPtakeoverbid #EDPBrazil #EDPcapitalincreasetofundtakeoverbid #EDPtakeoverBrazil #portugalinvestmentnews #portugalnews #portugalbusinessnews

Portuguese pharmaceutical company Bluepharma has ‎invested EUR 30 million to produce potent oral drugs in solid ‎form in one of the largest industrial units in Europe.‎ Bluepharma, that is located in Coimbra in Central Portugal, ‎was the first Portuguese pharmaceutical company to be FDA ‎approved for export to the US market. The drugs produced in the new unit ‎will decrease dependence on Asian countries and will ensure that the supply ‎chain for critical medicines will be within EU borders.‎ With the recent scarcity of essential drugs, this new ‎production unit is strategic, with quality products to be ‎produced while being competitive on the international ‎market. Bluepharma will be producing potent drugs, ‎including in the field on oncology, and is expecting an annual ‎production of 300 million units for generics.‎ The pharmaceutical group, that is comprised of 20 ‎companies, exported more than 90% of its output to over 100 ‎multinationals in 40 countries in 2022. ‎ #pharmaceuticalinvestmentsportugal #pharmaceuticalsportugal #Bluepharma #genericsportugal #portugalnews #portugalbusinessnews

The turnover of Portuguese group Mota-Engil reaches EUR 3.8 billion in 2022, that is an increase of 47% compared to 2021. This historical high exceeds expectations since this figure was expected to be reached in 2026. The group already has orders amounting to EUR 12.6 billion, registering an unprecedented growth. Out of this amount, a total of EUR 12.1 billion is linked to the engineering and construction sector. The group’s orders by sector are 44% for railway projects, 33% for roads, 15% for industrial engineering and 8% for civil construction. Mota-Engil registered profits of EUR 41 million in 2022, that is a 69% increase. The EBITDA reached EUR 541 million, that is a 31% growth compared to 2021. It is to be noted that, while the Portuguese market is growing by 5%, group sales to Europe have decreased by 16%. #MotaEngil #constructionsectorportugal #infrastructureprojectsportugal #economyportugal #portugalnews #portugalbusinessnews

Portugal’s exports reached 50% of GDP in 2022. Portugal’s exports of goods and services were the main driver of economic growth in 2022, with the country’s GDP growing at the fastest rate since 1987 according to Portugal’s Statistics Institute INE. Portugal’s GDP registered a real growth rate of 6.7% compared to 2021, that is the highest growth rate since 1987. Compared to the Euro Zone that registered a growth rate of 3.5%, Portugal’s GDP is growing at nearly twice the rate of other EU countries. Portugal’s exports reached EUR 119.8 billion, with EUR 81.3 for the export of goods and EUR 38.5 billion for the export of services. This figure is equal to around 50% of Portugal’s GDP, since the volume of exports increased by EUR 13.6 billion and the GDP increased by EUR 13.3 billion. It is to be noted that the degree of openness of the Portuguese economy registered 102.5%, that is the highest since 1995. #economyportugal2022 #economicgrowthportugal2022 #exportsportugal2022 #INE #portugalnews #portugalbusinessnews

Portuguese wine Quinta D’Amares Alvarinho 2022 wins the highest distinction in Japan, the Diamond Medal, at the international competition SAKURA Japan Women’s Wine Awards 2023. The all-female jury of the main Asia competition, that was comprised of sommeliers, chefs, oenologists, journalists and buyers, chose the best wine among 4,000 wines from 28 countries. The 2023 Diamond Medal went to the vinho verde from northern Portugal from Quinta d’Amares. #QuintadAmaresAlvarinho2022 #QuintadAmares #bestPortuguesewine #SAKURAJapanWomensWineAwards2023 #bestvinhoverdeportugal #wineexportsportugal #portugalnews #portugalbusinessnews

Portuguese company OLI is selling water-efficient toilets to Qatar. In Doha, Qatar, the iconic Katara Towers symbolically intertwine with Qatar’s heritage through the architectural translation of Qatar’s national seal, representing the traditional scimitar swords. In this hospitality icon, even the restroom is unique with five-star toilets produced by Portuguese company OLI, according to Negócios. OLI, that is a global supplier of bath solutions present in 80 countries, is not only the largest cistern producer in Southern Europe but the brand is synonymous of water-efficient bathrooms. OLI ended 2022 with a turnover of EUR 75.5 million, that is 7% more than the previous year. Exports account for 75.6% of sales, with growth markets in North Africa, especially in Egypt and Tunisia. #OLI #waterefficienttoilets #madeinportugal #portugueseexports #portugalnews #portugalbusinessnews

Portuguese company Medway is investing EUR 45 million in trains to cross the Pyrenees. The main private rail freight operator on the Iberian peninsula, that is part of Mediterranean Shipping Company (MSC), has a 90% market share in the Portugal rail freight sector. Medway’s new investment will be for 8 new locomotives and 250 freight wagons that will allow the company to extend its activities to the French market by 2025 according to Negócios. The company is also leading a consortium of 10 entities that will invest EUR 82 million for building smart wagons under Portugal’s Recovery and Resilience Plan (PRR). #Medway #MediterraneanShippingCompany #railfreightportugal #logisticssectorportugal #smartwagons #PRR #portugalnews #portugalbusinessnews