The chemical company Sinteza Oradea has announced its withdrawal from the project to build a factory for the production, testing, and recycling of electrolytes used in industrial batteries for energy storage.
The project, estimated at 50 million euros and co-financed through the National Recovery and Resilience Plan (PNRR), was supposed to be carried out in technological partnership with Lockheed Martin.
It would have been the first factory of this kind in Europe and the largest in the world. Production was planned for the year 2026 in Romania.
According to the company, the decision was made following an internal feasibility analysis and a strategic reassessment, in agreement with the American partner.
GridStar Flow is an innovative redox flow battery designed to promote accessibility and durability of clean energy. Manufactured in Andover, Massachusetts, and designed for the future of the energy sector, GridStar Flow operates with zero carbon emissions and enables the generation of sustainable and stable energy.
Although the technology is considered promising, Sinteza argues that the current market conditions do not provide the necessary conditions for sustainable implementation.
The adjustment options considered would have entailed a significant increase in risk and financial commitment, which the company does not deem justified at this time.
Following this decision, the CEO Remus Cotuț has submitted his resignation, his mandate being closely linked to the implementation of this strategic project. The leadership will be taken over by Radu Pascu, starting on May 20, 2025, for a three-year term.
The Ministry of Energy has been officially notified by Sinteza SA regarding the abandonment of the project, but has stated that no PNRR funds have been disbursed to the company, thus there is no negative financial impact.
The Ministry reaffirms its commitment to the development of the national value chain in the battery sector and continues to support viable projects in this field.
Lockheed Martin is a supplier of Patriot missile system components and, at the same time, the prime contractor for the U.S. military's F-35 multirole aircraft.