- CEO
- Attila László Chikán
- Full Time Employees
- 1,263
- Sector
- Utilities
- Industry
- Electric utilities
- Address
- Budapest Hungary
- IPO Date
- Oct 12, 2010
- Business
- ALTEO Energy Services Plc Class A (BUD: ALTEO) is a Hungary-based integrated energy services and utilities company engaged in renewable and conventional power generation, energy trading, decentralized energy management, and circular economy operations. Founded in 2008 and headquartered in Budapest, Hungary, the company operates across several primary business segments: Energy Production, which encompasses electricity and thermal heat generation utilizing a diversified asset portfolio of wind farms, solar photovoltaic (PV) power plants, small-scale hydroelectric facilities, landfill gas units, and natural gas-fired combined heat and power (CHP) cogeneration plants; Energy Trading and Retail, providing wholesale electricity and natural gas supply, corporate power purchase agreements (PPAs), virtual power plant (VPP) scheduling, and grid balancing services to commercial, industrial, and municipal clients; Energy Services and Facility Management, offering specialized engineering, procurement, construction, operation, and maintenance (O&M) for industrial energy infrastructure and district heating systems; Energy Storage and Grid Flexibility, operating utility-scale battery energy storage systems (BESS) integrated with its control center to provide automated frequency restoration and ancillary grid services; E-Mobility, providing electric vehicle charging solutions and infrastructure operation under the ALTEOGo brand; and Waste Management and Circular Economy, providing industrial and municipal waste collection, material recycling, and biogas conversion through specialized subsidiaries including FE-Group Invest Zrt. and ECO-FIRST Kft. The company primarily serves industrial consumers, commercial businesses, public utilities, and wholesale energy markets throughout Hungary and Central Europe. In recent strategic developments, ALTEO completed a significant ownership restructuring following the acquisition of a controlling majority stake by a consortium comprising MOL Group, Diófa Asset Management, and Indotek Group, establishing the company as a flagship platform for sustainable energy transition in the region. Additionally, ALTEO has expanded its grid flexibility operations through multi-megawatt battery energy storage projects, commissioned new solar capacity, scaled its corporate green energy supply portfolio, and strengthened its circular economy division via operational integration and strategic investments in industrial waste processing assets.