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 ECOTECA Association, in partnership with the Ministry of Environment, Waters and Forests, is organizing the conference “Return & Recycle Insights – 2 Years of DRS in Romania”, which will take place on 26 November 2025, between 09:00 – 13:00, at the Bucharest University of Economic Studies (ASE). The event will bring together representatives […]
Nine years after opening its doors, Veranda Mall enters its most exciting chapter yet. What began as a project to breathe new life into the Obor neighborhood has evolved into one of Bucharest’s most beloved destinations for shopping, leisure, and connection. As it marks this anniversary, Veranda unveils a winter events lineup rich in culture, […]
Purcari Wineries (BVB: WINE), CEE’s leading wine producer, announced its financial results for the first nine months of 2025 on Friday, November 14. The company saw a decline of 1.46% in pretax EBITDA earnings from the similar period last year. Specifically, earnings decreased to RON 84.66 million from RON 85.92 million last year. Meanwhile, group […]
With a solid 35-year uninterrupted presence on the Romanian market, Darian—one of the longest-standing consultancy groups with fully Romanian capital—reaffirms its role as a strategic partner for the business environment. Darian marks this anniversary not through grand promises, but by strengthening its core working philosophy: acting as a “co-pilot” for complex decision-making. The company emphasizes […]
The National Bank of Romania (BNR) revised its inflation forecast upward, from 8.8% to 9.6%, for the end of 2025. The institution anticipates that inflation will reach 3.7% at the end of 2026, compared to 3% in the previous forecast, according to data presented on Friday, November 14, by governor Mugur Isărescu. Compared to the […]
The state-owned company Transelectrica (BVB: TEL), the operator of the Romanian national energy system, recorded a net profit of RON 183 million in the first nine months of the year, down 56% compared to the same period last year. Operating revenues fell by 2%, to RON 1.716 billion, mainly due to the decrease in revenues […]
