Term Sheets, Business Update, feature articles and more!

By Camilla Nilsson, 30. Apr 2024

Spring energy at full speed

April was the month of new term sheets, Annual Report 2023 and our Business Update! Thank you for your interest and for following our journey. 

But there is even more going on at Kyoto Group. We have been featured in The Guardian, new employees joined and we spoke at some incredibly important energy events in Europe.

Let's have a look together at this month's highlights! 



Kyoto Group and Energy Partner jointly sign term sheet for Heat Purchase Agreement with global leading consumer goods company in Europe

The term sheet outlines the commercial conditions for the heat purchase agreement that the energy partner and the company aim to sign within Q2 and to install and hand-over Heatcube within 2025. Kyoto will act as a solution and service supplier to the energy partner and will sign a separate product sale agreement in parallel

"By leveraging Heatcube's technological capabilities and its flexible services, coupled with a consistent electricity supply from the energy partner, will not only bolster our energy and resource efficiency but also diminish greenhouse gas emissions, thereby minimizing our carbon footprint across operations at our site in Europe."

Read more on the press release by clicking the link below!

Take me to read more



The latest Business Update

On April 25th we were delighted to hold our Business Update! Thank you to everyone who joined the live stream. We are ready for new challenges and exciting opportunities!


"If only we double down on electrifying the industry, electricity curtailment will be history and we would sooner be on the other side of the energy transition."


We provided a rich exploration into:

  • Five of our pioneering Heatcube projects

  • Heatcube's competitive position vs natural gas

  • And our latest tech development making Heatcube capable to serve ALL flexibility markets


If you missed it or would like to simply watch again, worry not, we have prepared the on-demand version and presentation. Just click the link below!

Watch the recording



Read our Annual Report 2023

Alongside our Business Update, we published the annual report with financial results from 2023.

"The past year was truly transformative for us, marked by significant milestones on our journey to electrify the huge, and currently fossil-based, market for process heat. Our first full-scale Heatcube became operational, and the commercial pipeline grew substantially," says Camilla Nilsson, CEO of Kyoto Group, adding:

"Among a number of highlights last year, I have to point to our strategic partnerships with, and investments from, leading utility Iberdrola and thermal energy leader Spirax Group and the commercial order for Heatcube delivering Heat-as-a-Service to KALL Ingredients.”

Follow the link to download the report!

Download the annual report



Heatcube feautured inThe Guardian

Could salt, air and bricks be the future of energy storage?

Roger Harrabin with The Guardian takes a look at our electricity-hungry future where we need to find new ways of producing and storing power, also with non-conventional batteries.

“With all the excitement about battery technology for electric vehicles, people have forgotten about the massive demand for heat for industries that can’t be produced from electrical batteries. Industrial heat is a big deal – we can’t afford to ignore it,” says Kyoto's CTO Bjarke Buchbjerg in the article.

Read the full feature below!

Find out more in The Guardian article


Giuseppe Casubolo

We welcome Giuseppe Casubolo!

Giuseppe Casubolo joins Kyoto as Chief Strategic Partnership Officer as of April 2nd. He will help to accelerate the electrification of industrial process heat, through partnership initiatives in our eco-system.

Mr Casubolo, known in the market as a reference expert for thermal energy storage using molten salt, has been commercializing industrial nitrates for thermal energy storage in the Concentrated Solar Power (CSP) industry for as long as it has existed, through SQM, a major supplier of solar salt.

Read more below:

Find out more about Giuseppe Casubolo


April Events

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We took the stage at Energy Tech Summit 2024 in Bilbao

Simen Valåmo, Director Market Intelligence at Kyoto discussed in a panel on “Adaptive Energy Infrastructure: Strengthening Our Response to Climate and Energy Challenges” together with the Head of Climate Technology Investments and HSBC Asset Management and Principal, Ananda Impact Ventures.

"Our conversations delved deep into the significance of Adaptive Energy Infrastructure in tackling the pressing issues of climate change and energy sustainability."

Read more on the event


Camilla at Innovation Zero

We engaged in a panel discussion at Innovation Zero 2024 in London

Innovation Zero, the UK's largest sustainability conference, returned to London Olympia for the second edition. Camilla shared her insights in the Industrial Forum:

Panel "Reducing process and operational emissions" 

The panel discussed how the industrial sector can lower its outputs through the deployment of smarter operational techniques and renewable energy usage.

Read more on the event


IMechE: Battery Energy Storage Seminar 2024

Kyoto CTO Bjarke Buchbjerg spoke during this event and presented "Heatcube: the missing piece in the industrial decarbonisation"

The event emphasised the immense potential that energy storage can provide for the UK and Europe. One of the biggest hurdles for energy storage solutions is large scale implementation. While many projects exist on a smaller scale, the crucial factor lies in investment and commercialisation.

"UK is very aggressive on the decarbonization and there is a common acknowledgement that other types of storage has to join BESS!"

Read more on the event


Upcoming May Events

Future cleantech festival 2024

Future Cleantech Festival 2024

May 28 - 29, 2024. 

This year, they will be focusing on structural innovation in various thematic chapters, including Transport (aviation and shipping), Construction, Innovation, and the Future Energy System.

We will be speaking in 'The Future Energy Systems' chapter to address how we can produce electricity more flexibly in a session co-organized with IRENA, as well as “How to Store Energy? – Requirements, Solutions and Barriers to Scale Seasonal Storage”, together with the European Innovation Council. Finally, the third session is a policy roundtable focused on potential solutions and market mechanisms to incentivize energy storage and flexible clean energy generation (24/7 clean PPAs, CfDs, etc.).

Read more on the event

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