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- Research & development
World’s first geological hydrogen storage facility put into operation
“Underground Sun Storage,” the world’s first hydrogen storage facility in an underground porous reservoir, was put into operation in Upper Austria. In this way, RAG Austria AG – Renewables and Gas – and its project partners are setting new international standards.
In the demonstration facility, solar energy is converted into green oxygen by water electrolysis and stored in its pure form in an underground natural gas reservoir. This geological storage facility will be able to convert the summer solar power surplus of about 1,000 one-family homes in the future and store it seasonally. In this way, 4.2 million kWh (4.2 GWh) of summer electricity will be brought into the winter and can be made available again in the form of electricity and heat.
The results of the demonstration project “Underground Sun Storage” will make it possible to reposition gas storage facilities with their enormous storage volumes as hydrogen and green power storage facilities.
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Austria as a top location for international headquarters12. January 2024
Austria continues to be an attractive business location for international company headquarters – both for well-known firms such as Boehringer Ingelheim, Henkel, Takeda and the BMW Group as well as for young and aspiring companies operating globally. The country maintains its position as a business interface and ideal starting point for subsidiaries in Eastern and Western European countries, the USA and Asia.
Why set up headquarters in Austria?12. January 2024
There are countless reasons that speak in favour of Austria as a location for your international headquarters! Here we present a small selection: the central location, the lucrative market, stability and security, top-notch infrastructure, tax incentives with unbureaucratic processing, the highest quality of life and affordable prices.
Volkswagen relies on Magna Steyr in Graz12. January 2024
The Volkswagen Group is leveraging the know-how and experience of the Styrian automobile manu-facturer Magna Steyr. For this reason, it has assigned the company the task of developing two models for its new American electric-powered car brand Scout. Featuring a contract volume of € 450 million, this represents the largest single development order ever handled by Magna Stey.