Multiple battery, AI investments and developments announced in Hungary

New investments announced: Hungarian aluminium products manufacturer Inotal, oil and gas giant MOL are investing in battery storage upgrades, while Hungary’s H-Vend Service has developed an AI-based, data-driven vending machine.

Inotal invests HUF 3bn in battery storage

Hungarian aluminium products manufacturer Inotal is investing HUF 3bn in HUF 10 MW of battery storage at its base in Várpalota (W Hungary), plant director Tamás Németh told MTI on Friday.

Inotal won HUF 1.35bn in European Union funding for the project that will finish up in the autumn, Németh said. The battery capacity for electricity generated by the solar park at the base will be capable of powering the plant for five hours. Inotal had revenue of EUR 102m in 2023.

H-Vend Service develops AI-based, data-driven vending machine

Hungary’s H-Vend Service has developed an AI-based, data-driven vending machine, supported by European Union funding, owner and managing director Gabor Haska said on Friday. H-Vend Service was awarded HUF 139m in EU funding for the HUF 223m project, Haska said. The new, contactless vending machines can be remotely operated, he added. H-Vend Service had net revenue of HUF 673m in 2023, public records show.

MOL investment in 20 MW battery storage

Hungarian oil and gas company MOL is investing HUF 6.6bn to build 20 MW of battery storage capacity at its petrochemicals base in Tiszaújváros (East Hungary). At a press conference on Friday, Mol Petrolkémia CEO Péter Császár said 40pc of the investment cost was covered by the European Union’s Recovery and Resilience Facility. He added that the battery capacity could be recharged in under two hours and would provide 40 MWh of electricity.

MOL earlier announced the construction of one of the biggest solar parks in the country in Tiszaújváros. Energy Minister Csaba Lantos said the investment would raise battery storage capacity in Hungary from 50 MW to 70 MW. By the end of 2026, that capacity is planned to reach 500 MW, he added. Zoltan Aldott, the chairman of MOL’s supervisory board, said the company aimed to increase its battery storage capacity to 300 MW by 2027.

Read also:

• A “new era” for guest workers in Hungary: New regulations and National Card
• New draft decree would limit the employment period of guest workers – details in THIS article