TransLectures is an EU FP7 research project that aims to develop an innovative, cost-effective solution to produce accurate transcriptions and translations for large video lecture repositories. It will be integrated into the Opencast Matterhorn platform, and implemented in the Videolectures.NET (JSI) and Polimedia (UPV) repositories. TransLectures is now two years into its three-year lifespan as an EU project, and we have already applied and tested our tools with very significant results. In this presentation, we will describe the project in more detail, give an overview of its current status and its most recent results, and outline what it brings to the field of educational video lectures. The presentation will include a video demonstration of the transLectures tools that we are currently testing and evaluating in real-life applications.