Romanian company Sinteza has signed a financing agreement with the Ministry of Energy on Friday, through the National Recovery and Resilience Plan (PNRR), for the establishment of a new capacity for the production, testing and recycling of electrolytes used for the manufacture of industrial batteries for storing electricity, the company informs in a report submitted to the Bucharest Stock Exchange (BVB), informs Agerpres.
„Through this agreement, the Ministry of Energy will grant non-reimbursable funds via the PNRR for the implementation of the project entitled: „Establishment of a new capacity for producing, testing and recycling electrolytes used for the manufacture of industrial batteries for storing electricity.” The agreement enters into force on the date of its signing, and the duration is between the moment of the entry into force and the completion of the project’s durability period, which is 5 years, calculated from the date of the commissioning of the investment,” the report states.
According to the same source, the total value of the project is 309.267 million RON (including VAT), the total eligible value is 248.073 million RON, excluding VAT, of which the maximum eligible non-refundable value (state aid value requested) is 124.036 million RON (excluding VAT) and the eligible value of the expenses covered by the beneficiary’s own contribution is 124.036 million RON (excluding VAT).
The ineligible value of the expenses covered by the beneficiary’s own contribution is 11.913 million RON, and the value of the VAT is 49.28 million RON.
At the end of November, Sinteza and Lockheed Martin signed a letter of intent for the construction of a GridStar Flow battery factory in Oradea, with zero carbon emissions and allowing the production of sustainable and stable energy.
This agreement establishes the framework within which the parties will begin the development process of a future factory that will produce 30,000 tonnes of negative electrolytes per year, starting in the summer of 2026. This will be the first European factory of this type and the largest in the world.
