TheStorage raises €3.6M to scale industrial thermal energy storage
Summary
Cleantech company TheStorage has secured €3.6 million in seed funding, led by Voima Ventures with participation from Superhero Capital, 2C Ventures, and Momentum, to scale its industrial thermal energy storage solutions. The company's sand-based technology addresses the emissions-intensive challenge of industrial heat production by enabling electrification, integration of renewable energy, and optimization based on electricity market prices. This approach significantly reduces energy costs and emissions compared to fossil-based systems, helps overcome renewable intermittency, and allows industrial operators to participate in grid balancing markets for potential new revenue streams. The new capital will accelerate commercialization, expand the team, and further develop the technology, aiming for global scaling as industries seek efficient pathways to reduce emissions and energy costs.
Key takeaway
TheStorage secured €3.6M to scale its sand-based thermal energy storage, enabling industrial electrification of heat processes and renewable energy integration. This technology significantly reduces emissions and energy costs for industrial operators, while offering grid flexibility and potential new revenue streams.
Topics
- Thermal Energy Storage
- Industrial Decarbonization
- Sand-based Technology
- Seed Funding
- Renewable Heat
Best for: Investor, Entrepreneur, Executive
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Editorial summary, takeaway, and curation by AIssential. Original article published by Tech.eu - Tech.eu.