Unreal Engine and enterprise licensing

I am a student and currently doing my master degree in Austria. During my last Semester I am working 7 months for a company to do my master thesis. I am doing a project in this company where a demsontrator for eletrical actuators is developed for fairs. This demonstrator should be controlled with a mobile Android application for smartphones (and maybe with a Windows .exe program on a laptop). I would love to implement this using Unreal Engine 4. My question is now: Can I use Unreal Engine 4 for free for creating an application for a company, that is not at all engaged in the field of game development/design/etc. activities? Or are there any (hidden) license fees? The company will neither destribute or sell the app, nor will they ever generate revenue with the application. It will just serve to operate the demonstrator at fairs.

Based on the use description you list above, there would not be any license fee or royalty payment. But you should still report the release of the Product when it’s ready.

Thanks for the answer! The application will be used company-internal and mentioned in my master thesis - is this a ‘release’ at all?

It sounds like it won’t just be used internally if it’s used to “operate the demonstrator at fairs” as you said.

Ok, I get your point. Thank you for the information!