Romanian tech company Visual Fan gets EUR 16.6 mln power storage contract

Romanian tech company Visual Fan (BVB: ALW), a developer of consumer goods (mobile phones primarily), goods that expanded various business lines, including EV imports and renewable energy projects development, announced that it signed a EUR 16.6 million contract for developing a power storage unit for Eurowind Energy.

The company's shares rose by 3.5% on July 29 after the announcement, bringing the company's market capitalization to RON 129 million (EUR 25.4 million). The company's shares rose by almost 30% y/y, and it is also paying out a dividend out of the 2024 profit, resulting in a 3.13% dividend yield.

Visual Fan is 82.2% controlled by the company's founder, Florentin-Lucian Peticilă.

Eurowind is developing three wind farms in Romania with a combined capacity of 138 MWh and a 220 MWp PV farm.

The contract was signed with the company Teiuș Solar, a member of the Eurowind Energy group, for a storage capacity of at least 116.96 MWh, which makes it one of the largest projects of this type in Romania. The project should be completed within 12 months.

The project is supported by the Ministry of Energy, through non-reimbursable funds from the National Recovery and Resilience Plan (PNRR), Component C6 – Energy, sub-measure "Supporting investments in new electricity storage capacities (batteries)".

The company notes that the projects contracted in the first half of this year contribute decisively to achieving the financial objectives planned for the period 2025-2026, confirming the realism of Visual Fan's strategy and the company's ability to scale rapidly in a market in full transformation.

The Allview Energy division has become a central pillar of the business, currently attracting strategic projects in the field of green energy.

(Photo: Malpetr/ Dreamstime)