Intellectual capital

PGE Group's business experience and brand’s position are values that enable us to maintain our market position and adapt to a changing world.

The systems and procedures used by us allow the organisation to function efficiently and conduct business effectively in the area of electricity and heat generation and distribution of electricity. Along with the changes happening in our surroundings, the role of research and development activities is becoming relatively greater than material values.

Contribution

PGE employees’ knowledge and skills.
Concessions for activities related to lignite mining and the production distribution and trade in electricity and heat.

IT systems for infrastructure operations, customer service and support of management and communication.
Effective procedures.

Results

We have introduced a model for developing and implementing new solutions for the management of high-risk undertakings. In 2019 we continued operations of PGE Ventures, Corporate Venture Capital funds, whose goal is to invest in start-ups. We added following companies to our projects portfolio:
- ConnectPoint – start-up reducing emission of CO₂
- PySENSE – one of the most dynamically developing companies in the area of the modern communication technologies for the energy sector
Our search for innovations is aligned with the idea of transformation towards circular economy.

Our activities supporting the use of intellectual capital
Capital transformation

Harmonisation and integration of the Group’s IT systems of the Group
Active operations of special purpose vehicles:
- PGE Nowa Energia – development of technologies and products that are crucial for the value chain, acceleration and commercialisation, cooperation with start-ups, accelerators and other investors,
- PGE Ventures – corporate investment fund, which objective is further development of businesses in their post-acceleration phase and acquiring new solutions from the market.
PGE Accelerator – a partner for innovators, looking primarily for solutions from the energy sector. Innovative solutions in areas that can be attributed to the value chain of the PGE Group (mining, generation, distribution, sales) are a priority.
Cooperation with universities (technical universities: Białystok, Gdańsk, Opole, Silesia, Świętokrzyskie, Lublin, Wrocław, Warsaw, Rzeszów, Łódź; University of Łódź; University of Rzeszów; University of Zielona Góra; UTP University of Science and Technology in Bydgoszcz; Universities of Life Sciences in Lublin, Poznań and Wrocław; AGH University of Science and Technology; Naval Academy in Szczecin; State Higher Vocational School in Gorzów Wielkopolski; State Higher Vocational School in Krosno; West Pomeranian University of Technology in Szczecin)

Intellectual capital is developed using financial capital. Skilful use of funds creates the Group’s competitive position in the future, allowing for further growth of financial capital or increase in the value of manufactured capital due to it being used more effectively. Growing the potential of intellectual capital also contributes to the development of the Group’s human capital.

Financial capital