“The main message from Kyoto today is that we are now on the doorstep of a market breakthrough with an innovative application of a proven technology,” said
“We are proud to launch Heatcube 2.0, our modular thermal battery now designed for mass production, to meet the different demand profiles of industrial customers. This allows us to serve the
Tackle a Huge Market with Proven Technology
Kyoto’s technological and commercial advances target the process heat market, which accounts for two-thirds of total industrial energy consumption. As previously announced by Kyoto,
As intermittent solar and wind become an increasingly important part of the energy mix, the value of the intraday buffer is increasing, and this is the market Kyoto is addressing.
The Heatcube is based on molten salt heat storage. This technology has been used for decades in concentrated solar power plants, which are common in
“In other words, this is a well-known technology that is now being applied innovatively and commercialized in new market segments. Our first commercial installation, at Nordjyllandsværket in
Next Generation Heatcube
Capital Markets Day is preceded by a Heatcube 2.0 launch event. This next-generation thermal battery dramatically increases energy density while reducing capital expenditure and operating costs. See the separate press release issued today for more details on Heatcube 2.0.
“Heatcube 2.0 significantly strengthens our growing pipeline offering, and we now have the resources to seize this opportunity, both within the company and in our ecosystem of business and scientific partners,” said
Based on the substantial progress made in recent months, Kyoto is updating its medium-term objectives.
Kyoto has so far aimed for a Levelized Cost of Storage (LCoS) below
In addition, to pave the way to 2025, Kyoto sets its commercial targets for the next two years: 5-10 commercial orders for 2023 and 10-20 commercial orders for 2024. This is based on the fact that Kyoto has established a strong presence on the market in
By 2025, Kyoto expects to have installed more than 2,000 MWh of thermal energy storage and reach EBITDA breakeven.
Today’s physical event is for pre-registered attendees only and will last from [14:00] at [17:00] IT IS. It will also be broadcast live on the
For more information contact:
+47 48 29 56 85
+47 481 06 569
Heat accounts for half of industrial energy consumption. Traditionally, almost all of it is based on fossil fuels.
More information at www.kyotogroup.no
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