Kyoto Group brings the sun in a box to the stock exchange

By Gustavo Holo, 24. Mar 2021

Without the ability to store energy, industrial power consumption will never be green. That is why we are proud to announce Kyoto’s listing on Euronext Growth in Oslo! Now, investors can help speed up the decarbonization of the industry by investing in thermal batteries on the stock exchange.

There is growing impatience to stop emissions from fossil fuels. However one basic challenge must be understood to solve the problem. Decarbonizing the industry will never happen until energy from green sources can be stored on an industrial scale, for hours and days. Industrial energy consumption needs a stable source. While there is no shortage of green energy from the sun and wind, there is none at night or when the wind isn’t blowing. This instability of green energy needs the load shifting solution that Kyoto offers. The company’s mission to decarbonize industrial energy consumption is the reason why Kyoto has sought, and gained, admission to Euronext Growth.

– Our thermal batteries enable renewable energy to decarbonise industrial heat generation, which today is 90% based on fossil fuels. Heat storage represents a growing multi-billion dollar USD market opportunity and Kyoto Group is well positioned to become a market leader, says Christian Blom, the CEO of Kyoto Group.

Kyoto plans to operate and sell thermal batteries, enabling industrial consumption of low cost heat sourced from excess solar and wind energy. It means storing green energy locally when it is available and cheap, to be used when power from the grid is expensive or drawn from fossil fuels.


We are in the coal plant shutdown business

If we all want to charge our electric cars at the same time, coal and gas plants must now be used to meet the demand. Industrial consumption does not live in a separate world from this. Often, a few hours after peak demand, the situation is completely reversed. Where available – there is more green energy being produced than can be sold. Wind turbines produce too much power when consumption is low. This creates a perfect example of the load shifting use case for Kyoto’s solution. What if that excess energy could be stored?

– We offer a solution by loading batteries with heat made from cheap green electricity at night, to be used for later, when electricity is expensive, says Christian Blom, CEO of Kyoto.

Heatcube can be installed on site and replace any fossil energy resource previously used to generate heat for industrial consumption or production.

Recently, Kyoto raised NOK 125 million through issuing new shares. In addition, there was an over-allotment (greenshoe option) bringing total proceeds raised in the offering to NOK 150 million.

– At the moment we are scaling-up for growth, based on our proven technology, modular design for rapid industrial roll-out and strong commercial value and environmental proposition to customers, says Blom.

Decarbonizing industrial energy will become profitable, not just the right thing to do

The volatile nature of green energy has made it difficult to incorporate in industrial production. Industries have not found it cost effective to invest in the hardware necessary to produce green energy locally. Obviously consumption of energy cannot be determined by weather conditions, but more importantly – sudden drop in access to energy from local wind farms would have forced plants onto the grid for expensive electricity. Without being able to predict the price, making it less attractive for large scale operations. Kyoto’s Heatcube solves this problem..

– By using a Heatcube they achieve a fixed rate for power. They will be able to choose themselves at what kW-hour price to charge the battery if need be, or if at all.


Fact: HeatCube thermal batteries have a capacity of 5MW and upwards, enabling industrial power consumption of low-cost heat sourced from excess solar, wind, or electric energy.

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