Oslo, Norway 6 February 2023 - Kyoto Group is pleased to announce that it has signed a Letter of Intent (LOI) with Kaura Coproducts of Seville, Spain, to supply a Heatcube thermal energy storage solution.
Kaura Coproducts is dedicated to the production of high-added-value raw materials for pet food and aquafeed, as well as the revaluation of animal by-products for the energy sector.
The intention is to substitute 40 percent of the current consumption of fossil fuels with the Heatcube so to provide stable and sustainable heat generation for the production process.
The Heatcube planned for installation at the facility will have 80 MWh of thermal storage capacity, with a charge capacity of 10 MW and a discharge capacity of 5 MW. Total heat consumption at the facility is 24 GWh per year. It is planned for operation for 17 hours, 5.5 days per week.
“A sustainable use of resources is at the heart of our business. We want to extend this to energy resources by shifting from fossil fuels to renewable energy sources. To achieve this, we need energy storage, and the Heatcube is perfectly positioned for the process heat that we need,” says Juan Cabotá Jiménez, Head of Communication of Kaura Coproducts.
Pending final negotiations, the installation is estimated to happen in the first half of 2024.
“We’re excited about the cooperation with Kaura, which again illustrates the potential for Kyoto in the Spanish market, where the basic idea of using molten salt to store heat is broadly accepted due to its use in concentrated solar plants. It also illustrates the demand for sustainable heat in the agricultural industry,” says Tim de Haas, Chief Commercial Officer of Kyoto Group.
Kyoto's Heatcube provides thermal energy storage and heat generation in one product. It supplies industrial customers with the technology needed to lower both their costs for producing process heat and their CO2 emissions through the use of intermittent renewable energy sources instead of fossil fuels for heat production.
The Kyoto Heatcube can be configured with storage capacities from 16 MWh to over 96 MWh, with a discharge effect for each Heatcube of up to 5 MW. It is an innovative, low-cost, and modular storage solution for thermal energy that can use multiple renewable energy sources to heat molten salt to over 450 degrees Celsius. The high-temperature salt is then used to produce steam for industrial production processes.
For more information, contact:
Håvard Haukdal, Kyoto Group Chief Financial Officer (CFO)
+47 48 10 65 69
About Kyoto Group
Heat accounts for half of industrial energy consumption. Traditionally, nearly all of it is based on fossil fuels. Kyoto Group’s Heatcube, a thermal energy storage (TES) solution, provides a sustainable and cost-effective alternative by capturing and storing abundant but variable energy from sources such as solar and wind. Founded in 2016, Kyoto Group is headquartered in Oslo, Norway, and has subsidiaries in Spain and Denmark. The Kyoto share is listed on Euronext Growth (ticker: KYOTO). More information on www.kyotogroup.no
About Kaura Coproducts
KAURA COPRODUCTS is a company dedicated to the production of high added value Raw Materials for petfood and aquafeed, as well as the revaluation of animal by-products for the energy sector. All this is carried out thanks to its brands, RENFEED and RENBIO.