Hungarian energy firm Alteo is launching a project valued at around HUF 1.1 billion ($4 million) aimed at creating an “innovative” battery-based storage model for “weather-dependent” energy sources.
The project, which is backed by an HUF500 grant from Hungary’s National Research and Development and Innovation Office (NKFIH), will focus on developing a system to make it easier to forecast and plan the utilisation of weather-dependent power supplies, Alteo said.
The lack of such a system currently “hinders” the spread of wind and solar power technology in particular, Alteo said.
NKFIH issued a call for proposals last year to find “innovative, new, marketable products, services and technologies”.
Alteo said its grant from the NKFIH was awarded because its proposals would “promote renewable energy production systems that contribute to sustainable development and the fight against climate change”.