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Energias de Portugal (EDP) just announced that they have completed a sale amounting to U$ 68 million for their 50% stake in Hydro Global to China International Water & Electric Corporation (CWE), a company that belongs to the China Three Gorges Corporation (CTG). Hydro Global Investment is based in Hong Kong and is a 50-50 joint venture between EDP and CTG. The company is currently developing a 209 MW hydro project in Peru. EDP’s 50% stake in Hydro Global was acquired by the China International Water & Electric Corporation (CWE), that is a state-owned enterprise of the People’s Republic of China with activities focused on contracting overseas engineering projects. CWE has a registered capital of RMB 500 million yuan. With this new development, the holding company CTG will have a 100% ownership of the hydro project in Peru. The sale of its stake in Hydro Global is in line with the goals set out by EDP while they maintain their focus on renewable energy. EDP’s strategic plan for 2021-2025 focuses on their commitment towards becoming a leader in the energy transition with the aim of becoming a fully Green company by 2030. Source: https://www.portugalbusinessesnews.com/post/edp-announces-sale-amounting-to-u-68-million #EDP #HydroGlobal #ChinaInternationalWaterandElectricCorporation #ChinaThreeGorgesCorporation #portugalnews #portugalbusinessnews

R&D spending in Portugal reached a historical high in 2021 with EUR 3,609 million, that is 1.68% of GDP. According to a study on Portugal’s Scientific and Technological potential, R&D spending as a percentage of GDP has been increasing steadily for the last six years. The outcome supports the fact that there is greater convergence with EU criteria. R&D spending increased by 8.1% compared to 2019 and by around 40% compared to 2017 when it amounted to 1.3% of GDP. Portugal registered a higher investment in all economic sectors. The business sector increased its investment in R&D with spending increasing by 16.8% in 2021 to reach EUR 310 million. Private non-profit institutions registered an increase of 23.8%, while Government spending in R&D increased by 6%. The business sector accounts for 60% of national spending in R&D. This reflects higher growth in qualified employment as well as their commitment towards scientific and technological development. In Portugal, the number of people working in the R&D field increased by 5.6% going from 66,044 in 2020 to 69,769 in 2021. The study by the national statistical system is carried out according to the criteria established by Eurostat in line with OECD regulations. Source: https://www.portugalbusinessesnews.com/post/r-d-spending-in-portugal-reaches-record-high #RDportugal #scienceandtechnologyportugal #portugalnews #portugalbusinessnews

Women Business Angels have had an impact on Portugal’s thriving Start-Up scene in 2022. Angel investors provide financial backing for small start-ups and are usually their primary source of funding. The support of Business Angels is fundamental for the creation of Start-Ups and SMEs and leads to the development of innovative products and services that have an impact on economic growth. The term Business Angels was coined when describing wealthy patrons who invested in Broadway theaters. The term was first used in a study by William Wetzel, the founder of the Centre for Venture Research, on how entrepreneurs obtained capital. Angel investing has grown in Portugal and the field has attracted female talent that was recognized by several organizations such as EU-Startups. Here are some of Portugal’s Top Women Business Angels in 2022: 1) Ana Paula Reis Ana Paula Reis is based in Lisbon. She is a member of the Portuguese Business Angels association and is the co-founder of BridgeWhat, a Growth-as-a-service digital platform. She obtained the Investor of the Year 2020 Award issued by the South Europe Startup Awards. She is also the co-founder of SelPlus-SelData that achieved more than €900 million of client sales according to EU-Startups. 2) Yonca Braeckman Yonca Braekman is the founder and CEO of Impact Shakers, that helps build and scale ventures, with headquarters in Lisbon. She has launched the Impact Shakers Award to help create a fertile environment in which impact driven Start-Ups can grow into strong and scalable businesses. Yonca was ranked in the “Top 100 Women in Social Enterprise” in 2022. 3) Maria Semedo Maria Semedo is a IAPMEI Certified Business Angel based in Porto. She is the Executive Director of Vega Ventures that operates through a number of investment vehicles including Creative Wings, Green Capital and iSmart Ventures. She is also a Horizontal-Entrepreneurship Expert at EIT InnoEnergy as well as an Independent Expert for SME Instrument and Fast-Track to Innovation at the European Commission. Maria’s work was recognized at the ISCTE-IUL MIT-Portugal Venture Competition Semifinals in 2011. Business Angels in Portugal are promoted by the Investors Portugal association. The association represents the whole early-stage investor ecosystem and thus also includes VCs for the follow-up on investment. Portugal’s Start-Up scene is thriving with Lisbon Tech Start-Ups that are worth EUR 21.4 B in 2022 compared to 816 M in 2016 according to a new report by Dealroom. Source: https://www.portugalbusinessesnews.com/post/portugal-s-top-women-business-angels-in-2022 #womenbusinessangels #businessangelsportugal #startupsportugal #angelinvestorsportugal #AnaPaulaReis #BridgeWhat #SelPlusSelData #EUStartups #YoncaBraeckman #ImpactShakers #MariaSemedo #VegaVentures #CreativeWings #GreenCapital #iSmartVentures #EITInnoEnergy #InvestorsPortugal #investmentportugal #portugalnews #portugalbusinessnews

CDP just published the 2022 list of Top Green Companies globally and 4 Portuguese companies made it on the global ranking. In 2022, Europe was home to nearly 50% of ‘A’ companies with 8 out of 12 'Triple A' companies globally. A ‘Triple A’ is obtained when a company obtains an A score in the Forests, Climate-Change and Water Security segments. Within Europe, 20% of all A List companies are from the United Kingdom, followed by France, Spain and Germany. Portugal figures on the global ranking with a ‘Double A’ score. CDP assessed nearly 15,000 companies for their 2022 ranking and only a select few made it to the A-List. The 2022 index of Green Companies globally ranks 283 companies making the Climate-Change A-List, 25 companies making the Forests A-List and 103 companies making the Water-Security A-List. Without further ado, here is the 2022 Top Green Companies in Portugal: No. 1: EDP – Energias de Portugal S.A EDP is global company that is present in 29 countries. The company aims at leading the energy transition through sustainability. Their mission is to become completely Green by 2030, for tomorrow is now through the transition towards renewable energy. EDP ranks high in CDP’s 2022 A-List of companies that are leading the way on environmental action. In the Climate segment, EDP scored an A. In the Water Security segment, EDP scored an A. No. 2: Jerónimo Martins SGPS SA With more than 4,900 stores spread between Portugal, Poland and Colombia, Jerónimo Martins is a team of food experts specializing in Food Distribution and Specialized Retail. With more than 230 years of history in Food Distribution, the company’s vision is to democratize access to quality food products. In the Climate segment, Jerónimo Martins scored an A. In the Water Security segment, Jerónimo Martins scored an A. No. 3: NOS SGPS According to Miguel Almeida, the CEO of NOS, the company aims at being at the forefront of technology, with the best communication networks as well as the simple and efficient integration of technologies such as 5G, AI, Cloud and the IoT with a human touch. In the Climate segment, NOS scored an A. No. 4: The Navigator Company The Navigator Company is one of Portugal’s strongest brands and is a leading force in the international pulp and paper market. Its gKRAFT brand aims at reducing the use of fossil materials such as plastics in favor of renewable and biodegradable forest-based materials to help build a sustainable future. In the Climate segment, The Navigator Company scored an A. 2022 is a year of growing environmental concerns globally, from extreme weather to unprecedented losses in the natural environment, calling for urgent and collaborative change amongst stakeholders. CDP is the largest environmental database world-wide, assessing nearly 15,000 companies in the fields of climate-change, forestry and water-security. The annual ranking of companies globally aims at being a catalyst for transitioning towards a net-zero, deforestation-free and water-secure world. As companies are responsible for around 70% of global emissions, they will make or break the transition towards a Green future. Moreover, more that 680 investors with over U$ 130 trillion in assets are using the information that is disclosed by 18,700 companies that are worth over half of the global market-capitalization in 2022. CDP reported that major buyers with U$ 6.4 trillion in procurement spend have requested their suppliers to disclose information through their platform. According to the 2022 ranking, European companies are making a significant impact towards the Green transition, with Portuguese companies highlighted in the select A-list of global Green companies. Source: https://www.portugalbusinessesnews.com/post/top-4-green-companies-in-portugal-in-2022 #TopGreenCompaniesPortugal2022 #CDPlist2022 #ClimateChangeRanking2022 #EDP #climatechangecompanies #watersecuritycompanies #JerónimoMartins #NOS #MiguelAlmeida #TheNavigatorCompany #greennews #portugalnews #portugalbusinessnews

Amgen pharmaceuticals, that invested €100 million in Portugal in October, just announced that it is buying Horizon Therapeutics for € 26.3 billion. Amgen intends to increase its portfolio of therapies applied to rare diseases, a field in which Horizon Therapeutics specializes. According to Tim Walbert, CEO of Horizon Therapeutics, the biotech company is deeply committed to treating patients suffering from rare inflammatory diseases as well as from serious autoimmune conditions. With this new acquisition, Amgen will support long-term growth by developing innovative medicines. This new development follows Amgen’s recent investment in Portugal where the biopharmaceutical company created the Amgen Capability Center Portugal (ACCP) that is to employ 300 people within 3 years. The Amgen investment is labeled a Project of Strategic Interest for the Portuguese economy. Amgen’s Centre of Excellence in Portugal is the second one world-wide following the first one launched in the USA in 2017 and the acquisition of Irish biotech company Horizon Therapeutics is expected to boost Amgen’s annual results in 2024. Source: https://www.portugalbusinessesnews.com/post/amgen-buys-horizon-therapeutics-for-26-3-billion #Amgen #HorizonTherapeutics #TimWalbert #AmgenCapabilityCenterPortugal #biotechportugal #pharmaceuticalportugal #portugalnews #portugalbusinessnews

Portugal is receiving a €30 million grant for developing a Green Hydrogen Hub in Sines via the GreenH2Atlantic project. Construction is expected to start in 2023 and the project should be operational in 2025. GreenH2Atlantic has just obtained the status of Project of National Importance as it will consolidate Sines in Portugal as a Green Hydrogen Hub. It is one out of three projects selected by the EU for the implementation of the Green Deal. The project has received EU funding under the Horizon 2020 programme and comprises a consortium of 13 entities, namely EDP, Galp, ENGIE, Bondalti, Martifer, Vestas Wind Systems A/S, McPhy, and Efacec. The consortium also includes academic research partners ISQ, INESC-TEC and CEA, as well as scientific contributor DLR and the Public Private Partnership Axelera. Sines is Portugal’s Hydrogen Valley and is set to drive sustainability while becoming a major energy contributor for EU countries. The port of Sines is strategically located and provides access to the existent electricity grid and to the region’s industrial infrastructures. GreenH2Atlantic will develop a Hydrogen Production Hub that comprises a 100 MW electrolyser with scalable and fast-cycling 16 MW modules that will provide the flexibility to overcome bottlenecks. Innovative features will include an Advanced Management System that will ensure a reliable supply of H2 while being linked to hybrid renewable power plants from solar and wind energy. The GreenH2Atlantic project will be innovative as it will ensure lower Green Hydrogen production costs through an electrolyser that will be efficiently integrated to renewable energy production. Portugal is efficiently driving the energy transition by transforming a former coal power plant for Green Hydrogen Production. Green Hydrogen is set to become one of Portugal’s pillars of economic growth, a goal that is in line with the EU’s plans for energy transition. The Sines Hydrogen Valley will contribute to the region’s sustainability goals and will be a significant part of the EU’s energy roadmap. Source: https://www.portugalbusinessesnews.com/post/portugal-receives-30-million-grant-for-green-hydrogen-hub #greenhydrogenportugal #sinesportugal #GreenH2Atlantic #EDP #Galp #ENGIE #Bondalti #Martifer #VestasWindSystems #McPhy #Efacec #ISQ #INESCTEC #CEA #DLR #Axelera #portugalnews #portugalbusinessnews

Portuguese exports of goods reach EUR 65.385 million for the period January to October 2022, showing a 25.2% increase compared to 2021. The main export markets are Spain, France and Germany. According to AICEP, exports of goods to the EU market increased by 23.8% for the same period, representing a share of 70.4% of total exports. Spain is the main export market with 26% of goods exported and an export value that has reached EUR 3.196 million, that is an increase of 23.1%. Within the EU, the value of exports to Germany increased by 24.2% and to France increased by 17.8%. The value of goods exported outside the EU has increased by 28.5% compared to 2021 and accounts for 29.6% of total exports. The USA and the UK are the main export markets outside the EU, with the value of exports to the USA increasing by 48.6%. The main export sectors are Machinery and Apparatus that account for a share of 13.7% of goods exported, followed by Vehicles and Other Transport Equipment that account for a share of 12% of goods exported. Portuguese growth sectors include Mineral Fuels with exports that increased by 80.3%, Machinery and Apparatus that increased by 18.5%, Chemicals that increased by 39.6% and Base Metals that increased by 26.2%. Source: https://www.portugalbusinessesnews.com/post/portuguese-exports-reach-eur-65385m #portugueseexports2022 #machineryandapparatusportugal #vehiclesportugal #mineralfuelsportugal #chemicalsportugal #basemetalsportugal #economyportugal #portugalnews #portugalbusinessnews

An Iberian Hydrogen underwater pipeline at a cost of EUR 2.5 billion was just announced by the Prime Ministers of Spain, Portugal and France. The pipeline, that will be used to export Green Hydrogen to EU countries, is expected to be operational by 2030. The Iberian pipeline will not only decrease the EU dependence on fossil fuels but will also drive the transition towards Green Energy. The pipeline, that will link Barcelona to Marseille, will export 2 million tons per year, that is 10% of EU consumption. Portugal’s Prime Minister António Costa stated that the new connections will allow Portugal to produce and export Green Hydrogen to Europe. The H2Med project is the first major Green Corridor that will link the Iberian peninsula to Marseille. As Marseille is the gateway to northern Italy and Germany, these countries are expected to become large consumers of Green Energy. Prime Minister António Costa explained that the project is an additional source of energy that will be produced on the Iberian Peninsula for export to European countries. He added that there are four electrical interconnections that are agreed upon, with two that are already operational and two that will soon be implemented. According to Portugal’s Prime Minister, the existing natural gas connections between Portugal and Spain will be complemented by a corridor that will be dedicated exclusively to Green Hydrogen. This new project is a paradigm shift as Portugal will no longer be simply an energy importer and exporter, for the country will consolidate its position by producing energy for exporting to Europe. The Iberian Peninsula is one of the best locations in Europe for the development of renewable energy, especially solar energy, that will be used for producing Green Hydrogen. Portuguese Prime Minister stated that this is the reason why energy prices are lower compared to other European countries, and this means that Green Hydrogen produced on the Iberian Peninsula will be sold at competitive prices. This new source of energy will not only meet the demands of consumers on the Iberian Peninsula but will be exported to the rest of Europe. The export capacity of the Iberian Peninsula to supply energy to European countries means that this is a project of common interest for the EU as it aims at decreasing its energy dependence on third parties. As such, EU funding could be obtained to cover half of the cost. While Spain and Portugal account for 40% of Europe’s LNG capacity, these two countries are now aiming at becoming leaders in the production of Green Hydrogen. An offshore Hydrogen pipeline is a one-of-its-kind project with innovation driving the EU’s energy transition. Source: https://www.portugalbusinessesnews.com/post/eur-25b-iberian-hydrogen-pipeline #iberianhydrogenpipeline #greenhydrogen #greenenergy #H2Medproject #BarMar #greencorridor #hydrogenportugal #portugalnews #portugalbusinessnews

Portugal Business News specializes in promoting Portuguese businesses and Made-in-Portugal products for export and investment.

The Game of Thrones super-brand links followers of all languages and cultures through a unique Brand Language that stands out from competition. When David J. Peterson created the Dothraki tongue for Game of Thrones, it inspired millions of fans worldwide who suddenly spoke a unique common language. Game of Thrones became a game-changer for successful marketing strategies, as it demonstrated how Brand Language could be used to communicate with fans over all platforms. It showed how a brand could come to life and inspire conversations in all the world’s languages. With the limitless possibilities of AI, constructed languages with unique brand identities can create Customer Experience strategies on a global scale. In this new AI era, brands can communicate their unique Brand Language to develop a common tongue, a language that comes to life and prospers, a tongue that becomes the driving force that underpins brand loyalty across cultures. Studies have shown that 68% of consumers worldwide will switch to a different brand that offers products and communication in their native language, which is why companies are turning to AI to speak a common language. The Game of Thrones super-brand has 33 million viewers per episode in more than 170 countries. A unique Brand Language was constructed to inspire fervent followers. Professional conlanger, David J. Peterson developed the Dothraki and High Valyrian languages that created a wave of super-fans and propelled the brand. It not only became the top TV show globally but became a cultural phenomenon. It became so famous and beloved that online language-learning platform Duolingo partnered with Peterson to teach High Valyrian. Successful branding tactics use language identity to build brand loyalty and brand superfans. This has inspired Portuguese LangOps AI platform Unbabel to partner with Zendesk’s messaging solution, in order to facilitate multi-lingual communication across websites and messaging channels, such as WhatsApp for business, as well as social media channels. AI is a powerful tool for Brand Language, where word choice and tone are the two fundamental components. Word choice is the unique vocabulary that is used, while tone refers to the brand’s culture and visual identity. This allows companies and products to be recognizable globally, to get the attention of consumers and to retain followers. Brand Language is part of a company’s intellectual property and competitive advantage as competing brands may not be allowed to use it. In his book Brand Sense, Martin Lindstrom explains how companies can own words by creating strong links between words and brands. He provides the example of the Disney super-brand that is linked to the words “magic” and “kingdom”. The Disney super-brand has the largest number of words linked to one specific brand. Brand Language recognition is a strategy that is also used for successful political campaigns. Success tactics to create brand superfans through language have been used in the past and have become timeless. This is the case for J.R.R. Tolkein, who developed new Elvish languages Quenya and Sindarin. Other examples include the 2 million Esperanto speakers worldwide that led to the constructed language to be recognized by UNESCO as an official language in 1954. The prequel to Game of Thrones, 'House of the Dragon', contains scenes filmed in Portugal, in identifiable locations in the village of Monsanto. The fortress-town, that is at an altitude of 600 metres, dates back to the time of the Knights Templar. The location has unique characteristics such as imposing castles, mysterious grottos and giant rock formations that have been linked to the Game of Thrones brand. Brands connect cultures and languages, from the Dothraki language to High Valyrian, these game-changers create a community of faithful followers. This has led brands to create innovative and disruptive ways of targeting audiences. We are now on the verge of a new era, where AI technology is used for disrupting traditional methods in different tech sectors, such as the digital, manufacturing, robotics, genomics, biotechnology and renewable energy sectors. The Game of Thrones super-brand is a Gamechanger for AI tech companies such as Portugal’s Unbabel that is trail-blazing the way towards technological disruption. As it is rightly said in the Sindarin tongue spoken by the Grey Elves of Telerin: “I ambar na-anew!”, that is “The world is anew!” Source: https://www.portugalbusinessesnews.com/post/gameofthrones-unbabel #GameofThronesbrand #DavidJPeterson #Dothraki #brandlanguage #AI #HighValyrian #Duolingo #Unbabel #Zendesk #Portugal #portugalnews #portugalbusinessnews #digitalnews

Portugal ranks High on the Climate Change Performance Index 2023. The country ranks higher in the 2023 index as it is now at the 14th place up from 16th the previous year. The Climate Change Performance Index (CCPI) monitors the Climate Mitigation Efforts of countries within the EU as well as 59 other countries. The key findings show that the current energy crisis demonstrates the dependency on fossil fuels and shows how a number of countries are using this crisis as a turning point to drive ambitious climate policies through energy efficiency and renewable energy. The top performers are Denmark and Sweden, followed by Chile, Morocco and India that are performing well. On the other hand, China, which is the second largest emitter of greenhouse gases falls sharply in the 2023 index, dropping by 13 places to rank 51st. This ranking in the “very low” category joins the world’s largest emitter, the US, that is ranked 52nd. The CCPI index, that is published by Germanwatch, together with the New Climate Institute and the Climate ActionNetwork, is an independent monitoring tool for tracking climate mitigation efforts globally. The reports lead to national debates about climate change and allow countries to benchmark their own progress and to have a comparison with other countries. The performance is assessed for four categories, namely GHG Emissions, Renewable Energy, Energy Use and Climate Policy. The ranking, that is developed by around 450 climate and energy experts, is also used by the Financial Services sector to rate sovereign bonds. With Portugal’s policies for transitioning towards Green Energy being implemented, it is expected that the rising trend in the country’s performance will continue. Source: https://www.portugalbusinessesnews.com/post/portugal-climate-change-index-2023 #ClimateChangePerformanceIndex2023 #CCPIPortugal #Germanwatch #NewClimateInstitute #ClimateActionNetwork #greennewsportugal #portuganews #portugalbusinessnews

In the Expat City Ranking 2022 by InterNations, Lisbon now ranks 4th Best City for Expats. The Top 10 Best Cities for Expats are Valencia, Dubai, Mexico City, Lisbon, Madrid, Bangkok, Basel, Melbourne, Abu Dhabi and Singapore. In the Environment and Climate segment, Lisbon ranks 3rd after Lausanne and Basel, while in the Culture and Welcome segment, Lisbon ranks 2nd. Expats in Lisbon who have foreign-sourced income are among the happiest worldwide. It is among the best cities for quality of life, ease of settling in and personal finance, fields where only expats in Valencia are happier. Lisbon ranks 5th in the Quality-of-Life Index since 98% of expats are happy with the climate and weather compared to 62% globally. In fact, 17% of expats moved to the Portuguese capital for a better quality of life, versus 7% globally. 87% of expats also highly appreciate the culture & nightlife and 94% enjoy the opportunities for recreational sports. Another important factor for selecting Lisbon is the fact that nine out of ten expats feel safe there and they also find it easy to get around on foot or by bicycle. Lisbon also ranks 5th in the Ease of Settling-In Index, with particularly great results in the Local Friendliness segment where it ranks 4th and the Culture & Welcome segment where it ranks 2nd. A US expat describes what he loves about Lisbon with enthusiasm: “I love the hospitable, patient, and easy-going Portuguese people. They are helpful, kind, and polite.” Indeed, most expats describe the local residents as being generally friendly. Expats also find it easy to get used to the local culture and are happy with their social life. Another aspect that is taken into account before selecting a destination as an expat is Personal Finance, a segment where Lisbon ranks 5th due to the affordable cost of living. Since wages in Portugal are rather low compared to other Western countries, working locally is not what draws people to settle in Portugal. However, 72% of expats believe that their work-life balance is quite good. The Iberian Peninsula is well represented in the Top 10 Best Cities for Expats index. At the bottom of the ranking is Johannesburg that ranks 50th, Frankfurt that ranks 49th and Paris that ranks 48th and these cities are thus considered to be the worst destinations for expats in 2022. InterNations is an expat community of over 4.5 million members in 420 cities worldwide. The community is used as a source of information for people who live and work abroad and also provides opportunities for socializing. Lisbon’s high ranking shows that it is a great place to come and live and it is in line with the Portuguese Government’s policy to attract more expats as well as digital nomads to come and join this new vibrant community. Source: https://www.portugalbusinessesnews.com/post/lisbon-4th-best-city-for-expats #ExpatCityRanking2022 #InterNationsranking #Lisbonexpats #liveinlisbon #digitalnomadsportugal #portugalnews #portugalbusinessnews