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Budapest-based chemistry company ThalesNano is partnering with the University of Szeged in a HUF 1.23 billion project to develop electrochemical reactors that convert CO2 into hydrogen, the university said on Thursday.
The European Union has awarded a HUF 847 million grant to the four-year project, which aims to develop technology that will help reduce CO2 concentrations in the air, state news wire MTI reported.
ThalesNano will use some of the funding to expand its alternative energy R&D center in Szeged with a move to the Extreme Light Infrastructure (ELI) Science Park.
ThalesNano had revenues of HUF 1.15 bln last year.