What ALTEO does

ALTEO Energiaszolgáltató Nyrt. is a publicly listed Hungarian energy services and trading company (Budapest Stock Exchange: ALTEO), founded in 2008 and headquartered in Budapest. It operates an integrated energy ecosystem spanning 27 power plants with 324 MW of electrical and 922 MW of thermal capacity, combining natural gas-fired generation with renewable assets (wind, solar, hydro, biogas/biomass) and battery storage. The company's flagship technical asset is the 49.9 MW / 99.8 MWh Győr battery storage facility — Hungary's largest industrial storage installation — connected to the ALTEO Regulation Center, which has cleared MAVIR aFRR accreditation and is positioned to deliver cross-border balancing services via the European PICASSO platform from October 2026. ALTEO is also co-developing an AI-based autonomous energy management system with the Rényi Alfréd Mathematical Research Institute to optimize production, storage, and trading decisions across its portfolio.

The company's product surface is organized into five lines: heat and power generation (natural gas and renewables), battery storage, energy services (engineering, project management, contracting, operations, maintenance, investment funding), production management and scheduling (KÁT scheduling, electricity trading for renewable producers, storage management), and energy retail (electricity, gas, and site-level optimum energy management). Two sub-brands — ALTEO Circular / FE-GROUP (circular economy and waste management, expanded through the July 2025 acquisition of ÉLTEX Kft.) and ALTE-GO (e-mobility) — extend the ecosystem into waste-to-value and EV charging. Revenue mechanics span regulated and merchant generation, capacity and balancing services, retail mark-ups on electricity and gas, project-based engineering contracts, and waste management fees. Customers are predominantly Hungarian industrial, commercial, and municipal buyers, with retail energy supply to end customers and an investor base anchored on the Budapest Stock Exchange; ALTEO holds an EcoVadis Silver rating and was the first company in the Hungarian energy sector to obtain independent international ESG certification in 2022.

Name

ALTEO

Legal name

ALTEO Energiaszolgáltató Nyrt.

Website

https://alteo.hu

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

101–250 employees

Short description

ALTEO is a publicly listed Hungarian integrated energy services company operating 27 power plants (324 MW electrical, 922 MW thermal), battery storage, and circular economy operations, serving industrial, commercial, municipal, and retail customers in Hungary.

Ownership category

akta.pro rank

Product category

Integrated Energy Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111), Fossil Fuel Electric Power Generation (221112)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

DER & Microgrid Interconnection / Grid Edge Integration Services (EUAEANAF)

akta.pro secondary industries

Electrical Systems O&M (Substations, Transformers, Switchgear, Protection & Controls) (EUAMAGAH), Resilience & Backup Power Solutions (Critical Facilities, Islanding) (EUAMAJAK)

Keywords

• Energy services
• Power generation
• Battery energy storage
• Renewable energy
• Electricity retail

Headquarters

HQ city

Budapest

HQ country

Hungary

HQ region

Europe

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure

Distribution channels1 record

Marketing channels4 records

Core offering

ALTEO is an integrated energy services company that operates 27 power plants producing heat and electricity from natural gas and renewable sources (wind, hydro, solar, biogas/biomass). It offers large-scale battery energy storage, production management and grid balancing services via its ALTEO Regulation Center, energy retail to end customers, circular economy waste management under ALTEO Circular, and e-mobility charging services under ALTE-GO.

Product overview

ALTEO is an integrated energy services company operating a portfolio of 27 power plants with 324 MW electrical and 922 MW thermal capacity. The company offers a multi-component energy ecosystem comprising: (1) Heat and electricity generation from natural gas, renewables (wind, hydro, solar, biogas), and battery storage; (2) Energy services including engineering, contracting, operations, and maintenance; (3) Production management and scheduling including KÁT scheduling, electricity trading for renewable producers, and the ALTEO Regulation Center providing balancing services; (4) Energy retail including electricity, natural gas, and site-level energy management; (5) Circular economy solutions under ALTEO Circular and FE-GROUP brands; and (6) E-mobility services via ALTE-GO. These components work together to provide comprehensive energy solutions from generation through trading to end-user services.

Differentiator

Problem solved

Functional benefit

Products and services

• Heat and Electricity Generation
• Battery Electricity Storage
• Energy Services (Engineering, Contracting, Operations & Maintenance)
• Production Management and Scheduling

Quantifiable outcome

• Hungary's largest industrial energy storage facility - 49.9 MW / 99.8 MWh capacity representing approximately one-fifth of Hungary's total installed storage capacity
• +1 more outcomes

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• ÉLTEX Kft.coreOthers · 11 July 2025Acquisition completed - ÉLTEX Kft became 100% owned subsidiary of ALTEO. Leading waste management company expanding ALTEO's circular economy operations.
• Rényi Alfréd Matematikai Kutatóintézet (Alfréd Rényi Institute of Mathematics)coreStrategic or Co-development PartnerCollaboration on real-time autonomous energy information and production management system development using artificial intelligence. The joint project aims to create an intelligent power plant control system capable of autonomous production and trading decisions, supported by NKFIA funding of 401 million HUF.
• MAVIR Zrt.coreTechnology or IntegrationGrid system operator partnership for frequency regulation services. Successfully passed aFRR accreditation tests enabling PICASSO platform access for cross-border balancing services.

Recent moves7 records

Expansion highlights5 records

Direct peers

• MVM Group: Hungarian state-owned integrated energy group operating generation, trading, and retail in the same domestic market as ALTEO. Most direct national competitor, particularly in gas-fired generation, retail, and grid services.
• PGE Group: Polish integrated utility with conventional and renewable generation plus distribution. Closely comparable CEE peer in scale and product breadth.
• ČEZ Group: Czech integrated utility with a comparable mix of conventional generation, renewables, energy services, and trading across Central Europe. Highly comparable business model and scale.
• Verbund AG: Austrian integrated power company combining hydropower generation, grid operation, and flexibility services. Comparable integrated generation-plus-grid-services model in a neighboring Alpine/Central European market.

Broad incumbents

• ENGIE SA: French multinational with combined renewables, thermal, and energy services portfolio. Comparable integrated approach to generation, storage, and B2B energy solutions.
• E.ON SE: European multi-utility active in distribution, customer solutions, and energy networks. Comparable in the energy services and distributed energy resources integration space.
• Enel SpA: Global integrated utility with major renewables, networks, and retail operations in Europe and Latin America. Overlaps with ALTEO in renewable integration and decentralized energy models.
• RWE AG: Large German integrated energy company with significant renewable, conventional, and trading operations across Europe. Overlaps with ALTEO in renewables integration and balancing services, but at much greater scale.
• EDF SA: French integrated utility with significant nuclear, renewables, and energy services exposure across Europe. Comparable integrated offering including balancing and flexibility services.
• Iberdrola SA: Spanish integrated utility with leadership in renewables, networks, and storage globally. Relevant comparable on renewables + storage + grid services convergence.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

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Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries7 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ALTEO