Fuel cell company GaltTec pitched to win a 100,000-euro investment

The Latitude59 conference was held at Kultuurikatel in Tallinn from 22 to 24 May. The three-day programme culminated in the pitching competition in which startups competed for one million euros granted by the investors Specialist VC and Estonian Business Angels Network (EstBAN).  

The five best startups, selected from more than 500 participants, took to the stage, including also the University of Tartu spin-off and fuel cell developer GaltTec OÜ. The company was represented on stage by its co-founder and one of the CEOs, Laura Elise Arvisto, whose pitch led to an investment of 100,000 euros for GaltTec. An investment of 600,000 euros went to BeHolder from Ukraine and 300,000 euros to AsktoSell from Lithuania. 

While according to Glen Kelp, co-founder and CEO of GaltTec OÜ, any recognition is inspiring, the 100,000-euro win is the biggest monetary prize GaltTec has received to date. The company is currently looking for investments to expand its operations, so the award came at just the right time. “We are moving on with product development as planned. Our first customers from Tartu Science Park and further from Europe are eagerly waiting for the first deliveries of GaltTec’s unique fuel cells,” Kelp said.  

At Latitude59, Laura Elise Arvisto also won the Baltic regional competition of the New Nordics Pitch Contest, and thus, the company will also be on stage at the startup and technology event Slush in Helsinki in November.  

GaltTec OÜ is a deep tech company grown out of the University of Tartu and founded in 2022 by Glen Kelp, Laura Elise Arvisto and Tanel Tätte as a result of long-term research. As a manufacturer of fuel cells and related materials, the company aims to improve the energy efficiency of various devices. Last winter, GalTec was the first Estonian startup selected for the NATO innovation accelerator DIANA, which is intended for deep technology innovators whose ideas help solve problems in both the civilian and defence sectors.