The Spanish company takes a 12.8% stake in the thermal battery firm after investing three million euros in the company
Iberdrola invests in the Norwegian group Kyoto to accelerate the decarbonisation of industry
Atalayar
La solución de almacenamiento de energía térmica de Kyoto, Heatcube, instalada en una central eléctrica en Dinamarca
Desde Iberdrola controlaremos el 12,8 % del capital de la firma de baterías térmicas tras realizar una inversión de tres millones de euros
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Kyoto’s thermal energy storage solution, Heatcube, installed in a Danish power plant
19/NOV./23 – 11:00
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Iberdrola joins the Kyoto Group as a strategic investor and business partner in an alliance to accelerate the decarbonisation of industrial process heat with the incorporation of Heatcube, Kyoto’s thermal energy storage solution. The energy company is investing three million euros through its start-up programme, PERSEO, which allows it to control 12.8% of the capital and have a preence on its board of directors.
With this step, Iberdrola is making progress in its strategy of providing industrial customers with solutions to decarbonise their heat demand, which represents more than 50% of industry’s final energy needs. Thermal storage solutions are a key technology for supplying green heat at a competitive cost. Green industrial heat generated with this technology, together with green hydrogen, ammonia and other derivatives in which Iberdrola is a world leader, complements the portfolio of sustainable energy solutions Iberdrola offers its industrial customers.
“The partnership with Kyoto and its Heatcube thermal storage solution is a further step for Iberdrola in its mission to decarbonise the economy through electrification. Storage is one of the great challenges of the energy transition, so this collaboration with the Norwegian group will be key to our strategy,” says Fernando Mateo, Iberdrola’s Global Head of Industrial Decarbonisation.
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“This is a decisive moment for the Kyoto Group. Beyond the capital increase, the fact that Iberdrola and Spirax-Sarco Engineering are putting their plans, market access and credibility behind the commercialisation of Heatcube opens up huge market opportunities and provides us with world-class technological support. We are already working on several customer-specific commercial projects with Iberdrola and expect to see positive results shortly,” says Camilla Nilsson, CEO of the Kyoto Group.
Alongside Iberdrola, the world’s leading thermal energy management company Spirax-Sarco will also invest in Kyoto.
