U.S. defense contractor Lockheed Martin and Oradea-based Romanian chemicals producer Sinteza S.A. signed on Wednesday a letter of intent for the construction of a zero-carbon GridStar Flow battery factory in Oradea, which will make sustainable and stable energy possible, the Romanian company said in a release.The agreement sets the framework in place for the parties to start the development process of the future EUR 50 million factory which will produce 30,000 tons of negative electrolyte per year starting in summer of 2026. This will be Europe's first facility of this type and the world's largest, the cited source said."Today's move follows Sinteza's recent success in obtaining 25 million euros in co-financing funds under the NRRP for the electrolyte that is used for large-capacity GridStar Flow batteries. The letter of intent was signed by Lockheed Martin Vice President for International Affairs Ray Piselli, and Sinteza S.A. CEO Gelu Stan, in the presence of Romanian Energy Minister Sebastian Burduja and U.S. ambassador to Romania, H.E. Kathleen Kavalec. Today's event follows the discussions held with Energy Minister Sebastian Burduja at the beginning of this year in the United States, focusing on how the GridStar Flow battery can help Romania reach its net zero goals," the release states.GridStar Flow is an innovative redox flow battery designed to advance clean energy affordability and sustainability. Manufactured in Andover, Massachusetts, and designed for the future of the energy sector, GridStar Flow operates with zero carbon emissions and enables the production of sustainable and stable energy."With this project, Romania is attracting a strategic American investor with cutting-edge technology that is in no way dependent on imports of raw materials from outside Western markets, in a field that that sees exponential global growth. Once this investment is finalized, Romania will have a strategic advantage in the European Union in the development of renewable energy projects," Energy Minister Sebastian Burduja said.In his turn, Lockheed Martin Vice-President for International Affairs Ray Piselli mentioned that Romania can become a regional leader in the important energy efficiency and security sector.I'm excited by the prospects for this new partnership in Romania - our first project in the commercial sector and one which helps address net zero ambitions in the country. GridStar Flow is a cutting-edge solution for energy security, a key element of the needs of defense and security of any nation. Through this new initiative, Romania can become a regional leader in this important field of energy efficiency and security, he stated.Sinteza CEO Gelu Stan pointed out that this project is a clear way to significantly upgrade both the plant's technological level and business model. "In addition, the entire investment is ethical, intended to positively influence the European green energy transition," he emphasized.Lockheed Martin is a global defense technology company that promotes innovation and scientific discovery.Romanian company Sinteza S.A. boasts over 100 years of experience in the chemical industry, having set its ambitions on transitioning its business from the production of benzoic acid to green energy.
The SIGNAL IDUNA companies concluded 2024 with a total gross written premium volume of approximately RON 424 million, marking an aggregated growth of 16% compared to the previous year. These financial results reflect the consolidation of a sustainable development strategy, supported by portfolio expansion, digitalization, the launch of new solutions for both individual and corporate […]
Kantar Romania launched, during an event dedicated to their clients, "The Trust Factor – Building Brands That Endure Uncertainty", the top 20 brands that manage to inspire the greatest confidence among the Romanian consumers, based on the analysis of 162 brands from 12 sectors*. In a period marked by uncertainty and skepticism, trust becomes the […]
Balancing career success with personal growth is a challenge many professionals face today. As the pressure to achieve and perform increases, many begin to crave more than just success: they want clarity, alignment, and a deeper sense of purpose. For Lin Holmquist, business coach and one of Europe’s most acclaimed experts in Tantra, Yoga, and […]
CFR Călători, the state-owned railway company for passengers, announced that the first train entirely made up of rolling stock modernized with funds from the EU-backed Recovery and Resilience Fund (PNRR) was introduced on the Bucharest North – Constanța route. The train, which is already running, consists of a locomotive delivered by the Softronic factory in […]
The first edition of Urban Habits (nUH), a festival aiming to be “a space for ideas, debates, co-creation, and experimentation,” takes place between April 26 and April 27 at Lokal and on Erou Ion Călin Street, which will be temporarily transformed into a pedestrian space. The program will address themes ranging from innovation, design, and […]
Mall Moldova, the largest shopping center in the Moldova region, officially opened on April 17 in Iași, covering 110,000 sqm. Developed by Prime Kapital, in partnership with MAS P.L.C., Mall Moldova is part of a large-scale investment plan carried out by the two investors in Iași, worth approximately half a billion euros, which also includes […]
