Itron was recently recognized as the Investor of the Year for Research & Development (R&D) in Hungary. The Ministry of Foreign Affairs and Trade together with the Hungarian Investment Promotion Agency (HIPA) selected Itron to as the Investor of the Year in the “R&D Investment” Category for 2017 due to Itron’s job creation, business expansion and R&D investment.
Péter Szijjártó, Hungary’s minister of foreign affairs and trade, presented Itron with an award for its investments in Hungary on Feb. 21. Szijjártó presented the award to Gaurav Swarup, Itron’s director of R&D. The award recognizes investors and companies that demonstrate outstanding activities and contribution to the country’s economic development.
Itron recently opened a Center of Excellence in Budapest, focused on R&D and Software & Services, which is currently working on Itron’s smart energy and water solutions. Committed to developing a state-of-the-art development environment in Hungary, Itron has invested 2 billion HUF (approximately $7.9 million USD) in the center and expects to create 100 jobs.
“We have been impressed by the talent pool in Hungary and the cost-effectiveness of doing business here,” Swarup said. “The government has been extremely collaborative and phenomenal to work with. We see great opportunity for our company and employees in Hungary.”