Late November, a long-term partnership agreement was signed between InnoEnergy, Europe’s leading investor in sustainable energy management, and Tungsram Group continuing the 122-year-old tradition of European innovation.

Under the direction of a new owner, the latter initiated radical, extensive portfolio development this spring, in order to make Tungsram known as a European premium brand building on its Hungarian manufacturing capacities. This process perfectly fits in with the cooperation with InnoEnergy, as it is extremely important for the company to help the new solutions and innovative, future-oriented products to market, realizing them in an active collaboration with the domestic startup scene.

“Despite its long history, since April and the change of ownership, Tungsram defines itself as a startup,” said Jörg Bauer, CEO of Tungsram Group. “Following the 4th industrial revolution we currently live in, we are continuously working on being the first to introduce the technologies of the future as well as the smart technologies to the field of lighting technology and beyond. Throughout the product development process, we are very much counting on our partners and all the other startups who are willing to join us, while we are providing the best conditions through our Open Innovation Centre currently being built for the creation of products facilitating sustainable energy management.”

Owing to the agreement, the suppliers of Tungsram together with its startup and other partners will gain access to the European network of science and technology, the CEO said. “This role comes natural for us, for even between the two world wars, as an integrator of small businesses, we had been doing the same with the help of our European-level research lab, for example,” said Jörg Bauer.

Based on the agreement, Tungsram will become an active participant in the fields of education, innovative project management and business development services, all addressed specifically by InnoEnergy.

“The startups we support will meet great opportunities by building direct contact and sharing work with such a company tending a leading brand on the verge of becoming a global brand as Tungsram Group. In the meanwhile, as part of the joint development processes, Tungsram Group may take part in the creation of new and even revolutionary products that in the medium to long term will contribute to the reformation of the energy sector both on a European and a global level,” said Jakub Miler, Managing Director of InnoEnergy CE.

“The cooperation between InnoEnergy and Tungsram is vested in complementary competences. This is particularly important in an industry such as the energy industry where investors should count with higher capital needs and longer return times. Our new partner is bringing valuable synergies into this exact business environment with his production development capacities and his presence on the overseas markets,” said Ákos Dervalics, Head of the Hungarian representation of InnoEnergy.

Partnership cooperation of Tungsram and InnoEnergy launched on 29th November with the aim to discover technologies of the future that can contribute to the transformation of the energy sector.

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