Investment

50,000 tons of green hydrogen and 500,000 tons of ammonia per year are set to be produced at facilities near the Portuguese town of Sines through a new €1 billion scheme. The MadoquaPower2X project, which is expected to create more than 200 jobs, is being led by Portuguese firm Madoqua Renewables, in partnership with Dutch energy transition project developer and consultancy Power2X (Power2X) and Danish fund manager Copenhagen Infrastructure Partners’ …

Start-up and scale-up businesses in Portugal’s Algarve region are set to benefit from free training and mentoring sessions run by the Associação Nacional de Jovens Empresários (National Association of Young Entrepreneurs / ANJE), according to a report in Sul Informação. Running between March and June, the Startup Business Skills (SBS) sessions will be held in the principals towns and cities of the region, such as Loulé, Faro, Albufeira, Portimão and …

A new teaching and technology center called Gaia Infinity Hub is to be built on a 21-hectare site in Madalena near the northern Portuguese town of Vila Nova de Gaia, local authorities have announced. Developed by the Brazilian firm Gestao de Capital & Management as part of a total investment of €700 million ($770 million), the new hub is designed to bring together students, renowned educational institutions and large companies …

Portugal Tech, a “fund of funds” managed operationally by the European Investment Fund (EIF), has announced it secured €273 million ($309 million) in funding pledges at the Web Summit in Lisbon. Speaking at the launch of the Portugal Tech II program, Portuguese Finance Minister Pedro Siza Vieira claimed the  multiplier effect was “much higher” than had initially been expected. “In total, Portugal Tech II aims to mobilize 250 million euros …

Supermarket chain Continente, part of Portuguese retail and telecoms conglomerate Sonae, has announced the opening of what is described as the first “Europe-brand” scanless and cashless convenience store, located in central Lisbon. The new Continente Labs concept store, which opened its doors on 26th May, is 150 sq m in size and works using an app linked to a debit or credit card. Consumers scan a QR code generated by …

Start Campus, a joint venture of Davidson Kempner Capital Management and Pioneer Point Partners, has announced an investment of €3.5 billion to develop the Sines 4.0 hyperscaler data centre, located in Portugal’s Alentejo region, to connect Europe with the Americas and Africa. Claimed to be the largest renewable data centre campus in Europe with up to 450MW of capacity, Sines 4.0 will create 1,200 jobs and is designed to seamlessly …

Altice, Portugal’s leading telecoms firm, has announced it has partnered with technology giants Microsoft and Hewlett Packard Enterprise (HPE) to launch Azure Stack Hub, described as the first Azure hybrid cloud solution in the country. The initiative was unveiled at the Covilha Data Center, the biggest data storage facility in Portugal. Commenting on the partnership, Altice Portugal Chairman Alexandre Fonseca said: “This infrastructure will allow business clients of Altice Portugal …

Portugal’s Rede Nacional de Incubadoras (National Incubators Network) has helped startups raise more than €373 million in 2020, according to information published in the “Monitoring Report of Portuguese Incubators of the National Incubators Network (RNI)”. Companies with more than 12 months of incubation have a success rate of 89%, while the success rate for companies with over 24 months’ incubation is 85%, the report says. The total investment secured by …

Biscuit International, the France-based bakery firm, has reached an agreement to acquire Dan Cake, a Portuguese manufacturer and distributor of biscuits and cakes for an undisclosed sum. Dan Cake is a family-owned business founded in 1978 and headquartered in Coimbra, Portugal. The company, which has two manufacturing sites and employs 500 staff, is a leading producer of cakes and biscuits in Portugal and a leader in the butter cookies market. …