The leading energy company, Iberdrola is forging a new path for the energy sector to meet the sustainability requirements of the planet. A strategic partnership with Kyoto Group hopes to accelerate decarbonisation of the energy firm, which will benefit from thermal energy produced at off-peak times.
Headquartered in Bilbao, Spain, Iberdrola has been at the forefront of clean energy innovation for more than 20 years, and strives to exceed the target of 52,000 megawatts of renewable energy capacity by 2025.
The collaboration will centre around the Heatcube, which is Kyoto’s cutting-edge thermal energy salvage solution, and the investment of €3m by Iberdrola comes from its PERSEO programme.
By joining forces with Kyoto, Iberdrola takes a major stride in its strategy to provide tailored decarbonisation solutions to industrial clients.
"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,” says Fernando Mateo, Global Head of Industrial Decarbonisation at Iberdrola.
“Storage is one of the major challenges in the energy transition, hence this collaboration with the Norwegian group will be key to our strategy.”
Tapping into heat energy for green outcomes
The heat demand accounts for more than 50% of Iberdrola’s final energy requirements, making thermal storage a desirable solution; pivotal technology will deliver cost-effective green heat. This fashions another strand of the company’s energy portfolio as it already sits with the leaders in green hydrogen, ammonia, and other related hydrogen derivatives, which it offers to customers as part of a sustainable portfolio.
"This is a turning point for the Kyoto Group," says Camilla Nilsson, CEO of the Kyoto Group.
“Beyond the capital increase, the fact that both Iberdrola and Spirax-Sarco are vesting 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 a number of customer-specific commercial projects with Iberdrola and expect to see positive results shortly.”
Beyond its efforts to develop commercial and technical relationships for Heatcube, the investment into Kyoto’s technology will bolster its presence in Spain. With a significant portion of its workforce and supply chain position in the country, the opportunity will help growth and strengthen the company’s footprint.