US defense producer Lockheed Martin will sign a letter of intent with the Romanian chemical company Sinteza SA, for a project to produce long-term energy storage batteries in Romania, using its own technology, GridStar Flow, according to Profit.ro.
The project amounts to 50 million euros, with 25 million euros coming from a European state grant, through Romania’s National Recovery and Resilience Plan (PNRR).
The main shareholders of Sinteza SA, a business with a turnover of 14.6 million lei and losses of about 10.7 million lei last year, are BT Asset Management (33.8%), Radu Pascu (31.1%) and Platforma ROCA (18%).
Lockheed Martin is a supplier of Patriot missile system components and, at the same time, the Pentagon’s prime contractor for the F-35 multirole aircraft.