"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
"Among a number of highlights last year, I have to point to our strategic partnerships with, and investments from, leading utility
Highlights from 2023:
- Private placement successfully completed, raising
NOK 60 million . EUR 4 million green debt financing approved by Nefco, the international financial institution owned by Nordic countries.-
Strategic alliance and investment from leading utility
Iberdrola and thermal energy leaderSpirax Group . -
First full-scale Heatcube in operation at
Norbis Park inDenmark . Norbis Park installation connected to AI-powered DataOps platform.- Guaranteed round-trip efficiency of Heatcube increased from 90% to 93%.
- Quadrupling of discharge capacity through partnership with Steinmüller Engineering.
Kyoto Group and Cognite synergize to drive digitalization and automation of renewable process heat.-
Heatcube installation for KALL Ingredients in
Hungary initiated. - Klingele, a leading German paper and packing manufacturer, signed term sheet.
-
Kyoto honored with prestigious Energy Transition Changemakers award at
COP28 .
Highlights from 2024 so far:
- Signed
EUR 4 million loan agreement with Nefco. -
Directed share issue of
NOK 39 million with existing shareholders. -
MoU with
Schneider Electric to decarbonize and electrify industry. - Kyoto and Energy Partner sign term sheet with global consumer goods company.
Kyoto's leadership team will present the Kyoto Business update at
https://www.kyotogroup.no/business-update-april-2024
A recorded version of the presentation will be made available on the company's website after the presentation has concluded.
The Annual Report 2023 is attached to this release.
For further information, please contact:
havard.haukdal@kyotogroup.no
+47 48 10 65 69
About
Heat accounts for two thirds of industrial energy consumption. Traditionally, nearly all of it is based on fossil fuels.
https://news.cision.com/kyoto-group-as/r/kyoto-group--annual-report-2023-and-business-update,c3967274
https://mb.cision.com/Main/20557/3967274/2758790.pdf
https://mb.cision.com/Public/20557/3967274/bacf40eccf95e77a.pdf
(c) 2024 Cision. All rights reserved., source