Kyoto Group announced that they have signed a term sheet for delivering Heat-as-a-Service (HaaS) utilizing Heatcube for a global consumer goods company with an energy-intensive manufacturing footprint. Heatcube, a thermal energy storage solution, will replace the current natural gas supply and is designed with 20 MW charge capacity, 48 MWh of storage capacity and 14 MW discharge capacity, offering an annual capacity of more than 47 GWh. The Heatcube at the site in Europe will be supplied with renewable electricity from an off-grid 25 MWp solar photovoltaics (PV) complemented with renewable electricity from the energy partner portfolio assets, leading to an annual CO2 reduction of more than 10,000 tons.

The term sheet outlines the commercial conditions for the heat purchase agreement that the energy partner and the company aim to sign within Second Quarter and to install and hand-over Heatcube within 2025. Kyoto will act as a solution and service supplier to the energy partner and will sign a separate product sale agreement in parallel. The AI-powered back end of Heatcube will also ensure state-of-the-art preventive and predictive maintenance for the company.

The customer company is dedicated to achieving social and environmental sustainability, which includes reducing greenhouse gas emissions and minimizing their carbon footprint across operations. They have set a target to reach net zero emissions of greenhouse gases by 2050 and as part of this commitment, they are investing in technologies aimed at enhancing energy and resource efficiency, such as Heatcube, that can be deployed in several of their factories.