The decision, made during a Board of Directors meeting on May 19, followed an in-depth internal evaluation and strategic alignment with its technological partner, Lockheed Martin.
Sinteza stated that a thorough feasibility study and commercial assessment led to the conclusion.
While acknowledging the promise and long-term strategic value of redox flow technology for the energy sector, Sinteza indicated that "the current context does not yet provide all the necessary conditions for the sustainable launch of this project."
The analysis considered overall market dynamics for long-duration storage solutions and current demand characteristics, without questioning future collaboration potential.
The company also explored adjustments to the initial business model, which would have significantly redefined Sinteza's role and responsibilities, leading to a considerable expansion of scope and a substantial increase in investment commitments and associated risks.
"Given the current market context, such an involvement cannot, at this stage, be supported on a strategically sound basis," stated Alexandru Savin, President of the Board of Directors. He added that despite non-reimbursable support from the Ministry of Energy, the updated analysis showed that economic viability conditions are not fully met in the current context.
Even though Sinteza decided to drop the project, the Ministry of Energy said it remained committed to promoting and supporting the call dedicated to battery production in Romania.
