EXECUTIVE SUMMARY

Alcemi, a European battery energy storage system (BESS) developer and investor, has entered the Romanian energy storage market through the acquisition of two utility-scale battery storage projects with a combined capacity of 575 MW. The transaction expands the company's European footprint and reflects its strategy of developing large-scale energy storage assets that support electricity grid flexibility and renewable energy integration.

The acquisition includes a 300 MW battery energy storage project in Medgidia and a 275 MW project in Șura Mare. Both developments are planned as four-hour duration BESS facilities, providing substantial energy storage capacity capable of supporting the Romanian electricity system during periods of fluctuating renewable generation and peak demand.

According to Alcemi, the projects are intended to help alleviate grid constraints while enabling greater integration of renewable energy resources. Battery energy storage systems play an increasingly important role in balancing electricity supply and demand, improving grid resilience, and supporting the transition toward low-carbon power systems.

The projects will be developed in partnership with Romanian energy developers Andrei Pop and Emil Pop, who bring local market knowledge, permitting experience and expertise in Romania's regulatory and grid connection processes.

James Forster, Co-Founder of Alcemi, said, "Partnering with Andrei and Emil Pop gives us the on-the-ground expertise needed to navigate Romania's regulatory and grid interconnection landscape effectively. This collaboration allows us to move quickly while ensuring our projects are aligned with local market conditions and community priorities. We see Romania as a key market for BESS deployment, and look forward to delivering meaningful, long-term value in this partnership."

Emil Pop, Energy Developer, said, "Partnering with Alcemi brings the scale, technical rigour and financial backing needed to bring these projects to construction. Having worked on the ground in Romania, I know how important it is to pair strong local relationships with an investor who understands the market — that's exactly what this partnership offers."

The acquisition marks Alcemi's first investment in Romania and adds another market to its growing European portfolio. As Romania continues expanding renewable energy generation and modernising its electricity infrastructure, utility-scale battery storage is expected to play an increasingly important role in maintaining grid stability, supporting system flexibility and enabling higher penetration of wind and solar power.