Energy firm Alteo to launch R&D project for HUF 1.1 bln
Image by Pixabay
Budapest-listed alternative energy company and trader Alteo said it will launch an almost HUF 1.1 billion research and development project aimed at creating a model for the innovative use of battery-based energy storage.
The company won a grant of nearly HUF 500 million for the project from Hungaryʼs National Research, Development and Innovation Office (NKFIH). The system will make it easier to forecast and plan the utilization of weather-dependent energy sources.
The company will spend the money to create an intelligent system through developing and extending the regulatory center of its heat and electricity-producing stations and through the integration of the connected windmills and electricity storage facilities.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.