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InoBat and MOL Group to Develop Hydrogen Technology Projects in Central and Eastern Europe

By May 17, 2019

May 17, 2019

InoBat and MOL Group today announce the signing of Memorandum of Understanding to develop hydrogen technology projects in Central and Eastern Europe.

Bratislava, Slovakia/ Budapest, Hungary–InoBat (backed by IPM Group, A.EN. Group and MSM Group) and MOL Group today announce the signing of Memorandum of Understanding to develop hydrogen technology projects in Central and Eastern Europe.

A Slovak accelerator InoBat, linking leading industrial groups in the Central European region with the world’s premier technologies, is developing a Pan-European battery excellence centre, headquartered in Slovakia, with the aim to establish battery demonstration and production lines with applications in electro-mobility (electric vehicles, hybrid vehicles), energy storage (consumer and utility scale storage systems) and alternative fuels (hydrogen). MOL Group is a leading integrated Central & East European oil and gas corporation and an important player on the world energy market, with operations in over 30 countries. MOL’s exploration and production activities are supported by 80 years’ experience in the hydrocarbon field. The partnership between MOL Group and InoBat envisages cooperation in developing a variety of hydrogen technology projects in the CEE region, which consist of, in particularly, sourcing and supply of hydrogen, development and testing of hydrogen-rich liquid fuel, distribution and sales of such fuel, and, potentially, setting up a production plant including fuel recycling facility.

Mr. Marian Bocek, InoBat’s Co-Founder and Executive Chairman commented on the envisaged cooperation: “Signing the Memorandum of Understanding with MOL Group is a big step forward for InoBat. We believe that MOL’s long-standing industry expertise will help us accelerate the European ecosystem in hydrogen-fuel technologies by bringing together and creating an integrated European alternative fuel and e-mobility value chain. Together with MOL, InoBat is hopeful to shape new markets and disrupt existing ones not only in Europe but worldwide.”

Mr. Oszkár Világi, MOL Group Chief Innovation Officer said: „In line with our MOL 2030 strategy, we want to support innovative projects in the CEE which reflect on expected revolutionary changes in transportation and mobility. Operating nearly 2,000 service stations in the region we want to serve our customers both traditional and alternative fuels. This cooperation with InoBat will enable us to extend our offer and reach another milestone on our transformational journey from a traditional retailer to a provider of customer services.”