PAKRI Science and Industry Park is launching an investment fund for smart manufacturing companies
operating in the field of green technology. The fund is making its first investment in ELMO Rent, which
will produce remote control vehicle technology.

With the initial transaction of the PAKRI green fund, ELMO Rent will get a shareholder who supports the
launch of the production of remote control vehicle technology and additionally invests in the sales
growth of remote control vehicle technology in foreign markets. So far, ELMO Rent has developed and
tested its remote control vehicle technology at PAKRI, and Lääne-Harju municipality has also given its
consent to conduct remote control vehicle street testing in Paldiski streets. This will provide an
opportunity for the company to have production, testing and product development capacities close to
PAKRI Science and Industry Park.

PAKRI Science and Industry Park has a long-term cooperation with the research and business campus
Tehnopol in the field of services supporting companies’ growth, including expansion into export markets, product development and attracting further investments. In addition to the integrated services provided jointly by the partners, which until now included infrastructure and real estate solutions and business development services, the fund’s green investment component was added as an important complement and necessary support to the green technology start-up company.

“The most risky moment for green technology companies engaged in production is to start production.
This is very resource-intensive and difficult for a start-up company to make it independently, “said Enn Laansoo Jr, CEO of PAKRI Science and Industry Park. “PAKRI’s 14 years of experience in accommodating green technology companies has given us valuable experience and competence, which enables us to further increase the probability of sustainable growth of our customers with the help of the investment.”

“Estonia needs more green technology companies with a global growth ambition. Actually the Estonian
start-up and growth sector is not only competitive with software products, but also with the
development of physical products or integrated solutions, ”said Martin Goroško, Head of Tehnopol’s
Business Development Unit. “I believe that the activities of the fund in symbiosis with the PAKRI
infrastructure necessary for production and business development services of Tehnopol are a victorious
solution for Estonian green technology companies. Undoubtedly, it also brings more added value than a
classic capital investment in a company. After all, we often see how smart money with support services is what drives the growth of a start-up company”.

“The first investment showed well the readiness of the companies and the need for the fund. I know the
ins and outs of ELMO Rent and choosing the company as the first green technology investment was a
matter of course. I hope that our investment fund will soon be able to attract similar agile companies to our start-up production companies such as Woola, Bugbox, Rakse and others,” believes Laansoo Jr.

In PAKRI Science and Industry Park there are 70 hectares under continuous construction of a uniquely
smart industrial city and the first closed electricity distribution network in Estonia with a capacity of 1 + MW to be completed in December’20. Today, almost 40 production companies operate on more than
20,000 square meters of production space and in the development and testing area, and in cooperation
with the research and business campus Tehnopol, support services are offered to more than 35
customers of green technology business services.

Since 2017 PAKRI holds the silver level quality label of a responsible company, being the first responsible industrial park in Estonia. In 2018 it received the title of the Environmentally Friendly Company of the Year.​

Tehnopol, one of the largest research and business campuses in Scandinavia, aims to contribute to the
initiation and growth of world-changing technology companies in Estonia and to support their expansion
into foreign markets. For this end, a comprehensive solution is offered, from commercial real estate to
needs-based business development services in three focus areas: smart city, green technology and health