ALTEO

Integrated Energy Servicesalteo.hu

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.

Company typePublic
Founded2008
HeadquartersBudapest, Hungary
Headcount101–250
GTM typeB2B and B2C
OfferingServices

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.

ALTEO firmographics

Firmographics

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

ALTEO industry classification

Industry

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 industry: PRIMARYEUAEANAF
DER & Microgrid Interconnection / Grid Edge Integration Services
Energy, Utilities & Environment/Energy Infrastructure & Services (EPC, O&M, Field Services)/Smart Grid Infrastructure Services
SECONDARYEUAMAGAH
Electrical Systems O&M (Substations, Transformers, Switchgear, Protection & Controls)
Energy, Utilities & Environment/Renewable Energy (Solar, Wind, Hydro & Geothermal)/Renewable Operations, Maintenance & Asset Management
SECONDARYEUAMAJAK
Resilience & Backup Power Solutions (Critical Facilities, Islanding)
Energy, Utilities & Environment/Renewable Energy (Solar, Wind, Hydro & Geothermal)/Distributed Energy Resources & Community Renewables (Community Solar, Microgrids)

Keywords

Energy services
Power generation
Battery energy storage
Renewable energy
Electricity retail

Where ALTEO is headquartered

Location

Headquarters

HQ city: Budapest
HQ country: Hungary
HQ region: Europe

Markets served

ALTEO business model

Business model

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

ALTEO product offering

Product offering

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

Companies that use ALTEO

Customer profile

Ideal customer profiles2 records

ALTEO technology and API

Technology

Technology focussed Yes

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature3 records

ALTEO partnerships and signals

Strategic signal

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

ALTEO competitors and assessment

Company assessment

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

ALTEO compliance and trust

Trust signal

Compliance1 record

ALTEO financial estimates

Financial estimate

Revenue estimate

Valuation estimate

ALTEO leadership team

Management profile

Number of profiles

Profiles1 record

ALTEO subsidiaries and ownership

Company hierarchy

Subsidiaries7 records

ALTEO funding detail

Funding detail

Funding overview

Funding rounds1 record

Investors2 records

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

ALTEO M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about ALTEO

What does ALTEO do?

Is ALTEO a public or private company?

ALTEO is a public company. It is classified as public and is currently operating.

When was ALTEO founded?

ALTEO was founded in 2008. It employs 101 to 250 people.

Where is ALTEO based?

ALTEO is headquartered in Budapest, Hungary, in the Europe region.

Who are ALTEO's main competitors?

Direct peers on record are MVM Group, PGE Group, ČEZ Group and Verbund AG. Broad incumbents are ENGIE SA, E.ON SE, Enel SpA, RWE AG, EDF SA and Iberdrola SA.

Does ALTEO have an API?

No public API is recorded for ALTEO.

What industry is ALTEO in?

ALTEO's product category is Integrated Energy Services. Its primary akta.pro industry code is EUAEANAF, DER & Microgrid Interconnection / Grid Edge Integration Services, with a secondary code of EUAMAGAH, Electrical Systems O&M (Substations, Transformers, Switchgear, Protection & Controls). Its NAICS code is 2211 and its SIC code is 4911.