Are you sure?

Kontakt-Elektro inaugurates HUF 250 mln fuel sale plant

Kontakt-Elektro on Friday inaugurated a HUF 250 million hydrogen fuel cell plant in Pécs (SW Hungary).

The hydrogen fuel cell plant is the first in Hungary. The brownfield investment was supported with HUF 100 million in European Union funding, managing director Ferenc Hirth told MTI. The cells will be used in bicycles, small boats, communal vehicles and robotic hospital equipment, he added.

Kontakt-Elektro makes electronic equipment, such as switch boxes, as well as industrial electronic systems at present. The company has annual revenue of HUF 500 million-800 million. Revenue from its fuel cell division is expected to double this year to HUF 20 million. Kontakt-Elektro exports 20-40% of its products.