The Hungarian Battery Association signed a Memorandum of Understanding with the world's largest consortium in the raw materials sector

The Hungarian Battery Association, the Hungarian Export Promotion Agency and the EIT Raw Materials Regional Innovation Center in Albania signed a Memorandum of Understanding on 12 December 2024. The agreement aims to provide actionable support for the development of economic relations and for knowledge sharing between the parties.

Thanks to the three-year understanding, the parties will develop extensive and effective cooperation based on the principles of equality and mutual benefit, focusing on supporting trade, investments, research and development, and economic cooperation. This aims to assist small and medium-sized companies in their business development processes, including green and digital transition and the critical raw materials, facilitating their efforts in innovation and financial resources mobilization and in capacity building to realize bankable development projects and to fill in investment gaps.

Cooperation covers areas such as:

• exchange of information in the fields of trade, economy, technology, as well as research and development in the raw materials sector;
• exchange of information and practices in the area of green energy transition, energy storage and critical raw materials;
• exchange visits between expert missions and field visits;
• organizing seminars or forums to promote export, investments, joint projects, trade and technology development;
• identifying different EU and international calls and cooperating either as full-fledged or as associated partners in a consortium to support innovation and investments with a sustainable approach, strengthening green value chains;
• facilitating knowledge sharing and capacity building in areas of interest to the Parties, including national export strategies, in particular for critical raw materials;
• the provision of training programs and consulting services within their respective business scope;
• other activities related to the promotion of harmonious relations between the Parties and the economic development and prosperity of the countries concerned.

Established in 2015, the Regional Innovation Centre of the European Institute of Technology and Innovation for Raw Materials (EIT Raw Materials Regional Innovation Centre) aims to facilitate Europe's transition to a sustainable economy. Its mission is to support the supply of critical raw materials to the European industry by driving innovation along the raw materials value chain. The regional center in Albania will, among other things, help to provide the region with the infrastructure needed to exploit its mineral potential and build strong economic links between the Western Balkans and Europe.