Support for Transition to Circular Economy

FE-Group Invest Plc., a subsidiary of Alteo, has won a HUF 300 million grant for the technological support of the transition to circular economy of waste from products subject to product fees under the return system introduced from January 2024, the company told MTI on Thursday.

According to the press release, the non-refundable subsidy won in the state tender will be used by FE-Group Invest Plc. for the establishment of a new waste processing plant and the purchase and installation of the related special machinery. The HUF 300 million will cover approximately 70% of the total project, the remainder will be self-financed.

The aid will be used to install a complex process line capable of handling an annual input volume of 15,210 tons. This will be able to process waste from the Deposit Refund System (DRS), which was introduced in January.

It was pointed out that the facility will have a total capacity of 11,400 tons of PET bales and 3050 tons of aluminum bales per year from the 15,210 tons of mixed waste coming to the site per year. An additional 760 tons of tinned metal and ferrous metal are also separated during processing.

The business activities of the Hungarian-owned company Alteo include the production and trade of energy based on renewable energy sources and natural gas, as well as energy services and developments tailored to individual corporate needs.