The project will be conducted in collaboration between Ruđer Bošković Insitute, Faculty of Mechanical Engineering and Naval Architecture University of Zagreb and RWTH Aachen, Germany. From the Croatian side, the project is led by Davor Davidović, PhD. The main scientific goal of the project is the design and implementation of new efficient and scalable algorithms for tensor contractions. The resulting high-performance routines will be optimized for hybrid computing architectures; accelerator-based architectures consisting of multi-core CPUs equipped with one or more Nvidia GPUs or Intel Xeon Phi co-processors. The research and testing of the new algorithms will be conducted on a predefined set of tensor contractions arising from the scientific applications: the coupled-cluster method (quantum chemistry), the full-potential linearized augmented planewave (flapw, density functional theory), and the functional renormalization group (solid-state physics).