Press releases

Green Genius, a leading renewable energy developer and independent power producer owned by Modus Group, is to receive an equity investment of up to EUR 100 million from the European Bank for Reconstruction and Development (EBRD). This investment will fund Green Genius’ expansion plans through 2029 in various European countries. 

UAB Modus Grupė, which operates in mobility services, the auto business, investment funds, and other businesses, on Friday, 17 November, began a public offering of surety bonds with a maturity of up to 2 years. The group plans to raise EUR 8 million through the issue. The funds will refinance up to EUR 8 million of bonds issued three years ago.

The Modus Group, an international group of companies operating in renewable energy, mobility services, the auto business and investment funds, had consolidated sales revenue of EUR 203.8 million in the first half of 2022. The group’s earnings before interest, tax, depreciation and amortization (EBITDA) for the six-month period grew by 11 percent to EUR 22 million.

Renewable energy company Green Genius, part of Modus Group, has decided to cease its operations in Belarus due to the ongoing war against Ukraine. It will concentrate on the faster growth in 7 other European markets where it develops solar, wind and biogas projects.

Modus Group, a group of companies managing renewable energy, mobility services, car trade and other businesses, is launching a second public bond issue today, which is expected to raise up to 8 million euros. These funds will be used to refinance an issue of 5 million euros issued 3 years ago as well as be invested in renewable energy projects and the development of a sustainable mobility business.

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, 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, 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.

​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.

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. 

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 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.

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

The international group Modus Group is expanding one of its strategic areas of
renewable energy and is establishing a new company, Axton Commodities.

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

Modus Group, an international group of companies active in renewable energy, mobility services, automotive business, and investment management, had consolidated unaudited sales revenues of EUR 392 million in 2023, which is at a similar level to 2022 (EUR 404 million). 

The Modus Group, an international group of companies operating in renewable energy, mobility services, the auto business, and investment funds, had consolidated sales revenue of EUR 203 million in the first half of 2023, almost at the same level as in the same period in 2022 (EUR 203.8 million). The Group's unaudited earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased by 9% compared to 2022, from €22 million to €20.1 million.

The Modus Group, an international group of companies active in renewable energy, mobility services, automotive business and investment management, had consolidated audited sales revenue of EUR 458 million in 2021, similar to the 2020 level of EUR 469 million. 

Modus Group, a group of companies managing renewable energy, mobility services, car trade and other businesses, has distributed the entire bond issue in the first stage. In three weeks, the group attracted EUR 8 million from investors for 5% annual interest. Although the bond distribution was planned in two stages, and the first three-week stage was aimed at raising EUR 5 million, the company received a lot of interest from investors and during the first stage distributed the entire EUR 8 million three-year bond issue. 

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.

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 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, 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 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, 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.

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 Aberdeen Standard Investments. This is the biggest transaction for solar power parks in Poland so far.

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.

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

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.

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

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

UAB Modus Grupė, which operates in mobility services, the auto business, investment funds, and other businesses, has completed a public bond issue and raised EUR 8 million in less than a week. More than 400 investors from Lithuania have purchased the bonds.

The Modus Group, an international group of companies active in renewable energy, mobility services, automotive business, and investment management, had consolidated audited sales revenue of EUR 404 million in 2022. The Group's earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to EUR 78 million, while investments in Lithuania and foreign markets totalled to almost EUR 138 million. Group EBITDA grew by 82%

International company group Modus Group has made a decision to cease its automotive trade business operations in Belarus due to military aggression against Ukraine. In Belarus it represents BMW and MINI brands. Currently Group is closely cooperating with manufacturer BMW AG and looking for the best option to leave the market.

Economist Umair Haque, when talking about the value created by a business, identifies two types of this value - thin and thick. The thin value is one that is created without regard to the needs of society, and sometimes even by sacrificing them. However, the development of the world and its future, according to the economist, depends on the thick value. By creating it, business not only generates profits, but also improves the living conditions of people, help solve ecological problems, and ensure sustainable growth of economy. Precisely this path was chosen many years ago by Modus Group, one of the largest international group of companies in Lithuania, which consistently increases the volume of green investments.

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.

​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, 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).

​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 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.

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 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.

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.

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.

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

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

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