Pannergy Information

PannErgy Plc is a company listed at the Budapest Stock Exchange, included in the BUX basket, and is a premium share issuer. As the legal successor of Pannonplast founded in 1922 and known for its world-class plastics manufacturing operations, the Company announced a new strategy in 2007. Based on well-grounded calculations and studies, it set a strategic objective focusing on a fully different business opportunity that had so far been unexploited in Hungary. The Company follows the mission to rise to a leading role in the region of the Carpathian Basin in the utilization of geothermal energy in order to create value for the future generations. To this end, in May 2013 the Company opened a system in Miskolc featuring the largest operating geothermal energy capacity in Hungary to provide the city with environmentally friendly heating services. The Geothermal Project of Miskolc has been recognized with GeoPower Market's international prize "Best Heating Project 2013. The Company is involved the introduction of two-phased heat sales for secondary heat utilization in order to supply secondary heat to the foil greenhouse erected by Miskolc Agricultural Ltd. On 24 November 2015, Zoltán Németh, Chairman of Gyor-Moson-Sopron County Council has opened the Ceremony of PannErgy's Geothermal Project of Gyor - with total cost of HUF 10.2 billion, by the initiation of the Bony Heating District. As per the long-term heat supply agreement between PannErgy Goup and Gyor-Szol Ltd., in the heat distribution services of Gyor, 24 266 households and 1 046 other customers will be supplied with geothermal energy, furthermore, minimum 60% of the AUDI Plant's heating energy will be covered by the energy supplied by the Bony Heat Distribution Center. PannErgy Group operates two additional, smaller geothermal systems: Szentlorinc has a geothermal heating system of a production and reinjection well for 3 MWth useful heat capacity, while Berekfürdo runs a gas engine thermal power plant for the use of geothermal accompanying gas.