In 2022 Q1 the shortage of semiconductor production capacity continues to play a key role in hampering business development, which still determines extended delivery times for most semiconductor components used in the production of electronic systems. Also, an upward trend in inflation continued, which is facilitated, among other things, by the significant rise in the prices of energy resources (electricity and gas) in Europe, as well as by the increasing trend of the average wage in Latvia.

The combination of these factors with the shortage of electronic components and price increases slows down the business development, so the investments in development of the technology included in the project was not made. HansaMatrix plans to resume the investments in the third quarter of 2022.

Project total investment amount is 2.899 million EUR. EU and Latvian government grant amount is 1.015 million EUR. The rest of the project will be financed from the company’s own and bank loan resources.