Perkons Energy: a powerful Latvian player in the global battery market
Latvian company Perkons Energy specialises in the development and manufacture of high-performance battery packs, which it supplies to customers throughout the world. These are energy storage solutions that are integrated into various devices and industrial equipment. The company offers battery packs that are fully adapted to customer needs and designed according to specific technical requirements, such as size, power, voltage, and other parameters. Perkons Energy’s customers include manufacturers of drones, electric vehicle and various other equipment manufacturers in many countries around the world – from Lithuania, Estonia, and Poland to Denmark, Belgium, the United Kingdom, the Czech Republic, Slovakia, and even as far away as Mexico and New Zealand.
After a thorough preparation and research phase, Perkons Energy only began active production at the beginning of 2024. Now, a year and a half later, the company’s turnover has grown from zero to two million euros.
“We entered the market with a specific goal in mind – to create high-performance, high-quality, and customisable battery packs, for which there is currently a rapidly growing demand in the market. We already had the knowledge and experience gained from previous technology start-ups. After analysing the market and talking to many companies, it became clear that there is enormous potential and opportunities for development in the field of customised battery solutions,” says company co-founder Mārtiņš Pastars.
A small but powerful team
The company’s production facility is in the Ogre region and currently employs a team of nine people. Thanks to well-thought-out production technologies and a high level of automation, the small team can fulfill large and complex orders in a very short time without compromising on quality and precision. “We offer a full cycle – from cell selection and testing to the finished product and customised enclosure design. The customer tells us what they need, and we turn it into a safe, reliable solution,” says Mārtiņš.
The company has competitors in both Europe and China, where many manufacturers attract customers with lower prices. However, Perkons Energy prides itself on its ability to provide an excellent quality-price ratio, combined with flexibility and very fast order turnaround. “Our biggest advantage is flexibility. We can react quickly, adapt and develop products specifically for a particular customer.”
Focus on exports
Although more orders are coming from Latvia, exports still play a major role in the company’s operations. Last year, it accounted for approximately 80% of total turnover, but this year, thanks to several significant deals with local manufacturers, Latvia is becoming an increasingly important market. “Our customers in Latvia are mainly manufacturing companies whose main focus is on exports, so local orders are actually indirect exports,” explains Mr Pastars.
The company’s main customer acquisition model to date has been direct sales and participation in international exhibitions, where products and technical solutions are presented. “Exhibitions and networking are our main sales tools, that's where people see what we can do, and very often that leads to cooperation,” Mr Pastars says.
Making use of all the opportunities offered by the incubator
The Investment and Development Agency of Latvia (LIAA) and its business incubator in Ogre have played an important role in the development of Perkons Energy. The company has used the funding to purchase production equipment, laboratory equipment and raw materials, as well as for employee training. The company also actively participates in trade missions and international exhibitions organised by LIAA, where it establishes new contacts and attracts customers. Financial support has also been used for certification processes which is an aspect of particularly importance in such a strictly regulated field such as battery manufacturing and requires significant investment.
“In my opinion, the support provided by the business incubator is simply wonderful. But it only works if you are active yourself – if you get involved, follow along, and take advantage of all opportunities. We do everything ourselves – applications, documents, calculations. LIAA is very forthcoming and always explains if something is unclear,” says Mārtiņš.
In the coming years, Perkons Energy plans to increase production capacity, develop new battery solutions, and expand the team to serve the growing demand even more effectively. “We are looking to the future with confident optimism,” says Mr Pastars. “Not only because this is a very promising industry, but also because our growth is closely linked to other innovative companies. We collaborate with nearly a hundred start-ups in Europe and elsewhere in the world, for whose products we have created various customised solutions, and we are ready for rapid growth together.”
Information material prepared with the support of the European Regional Development Fund
