"Danish industrial companies are actively looking to phase out natural gas boilers, driven by a combination of regulations, financial incentives and customer preferences. Kyoto Group offers a low-risk, cost-effective solution to decarbonize industrial process heat, without major capital investment or operational disruption," says Tim de Haas, Chief Commercial Officer at Kyoto Group. "We are thrilled to partner with Hebsgaard | Larsen. With their proven track record and strong local presence, we're well-positioned to get this message across to potential customers in Denmark."

Kyoto's Heatcube technology delivers high-volume, stable, and fully electrified heat for industrial applications, enabling a smooth transition from natural gas to renewable energy. By leveraging thermal energy storage, Heatcube significantly reduces both process heat costs and CO₂ emissions, while also providing a strategic hedge against volatile energy and commodity prices.

 "At Hebsgaard | Larsen, we help our customers identify their green potential based on extensive experience. Thermal Energy Storage (TES) is becoming an increasingly essential factor in this process. We are deeply impressed by Heatcube and look forward to helping introduce this groundbreaking TES technology to potential customers in Denmark," says Jakob Hebsgaard, Managing Partner at Hebsgaard | Larsen.

Under the agreement, Hebsgaard | Larsen will promote Heatcube, identify and introduce potential business opportunities and assist in sales processes. The partnership is part of Kyoto's strategy to accelerate the adoption of Heatcube's Heat-as-a-Service (HaaS) model in Denmark, providing fully electrified heat at a reduced price without upfront investment.

Kyoto Group already has a foothold in Denmark as its first full-scale commercial project and HaaS model was commissioned in Aalborg, Denmark at Norbis Park, a large combined heat and power (CHP) plant, in September 2023.

For further information, please contact:

Tim de Haas

Chief Commercial Officer, Kyoto Group

+47 916 30 129

Jakob Hebsgaard

Managing Partner, Hebsgaard|Larsen

+45 40 30 42 35

About Kyoto Group

Kyoto Group is a leading thermal battery company committed to decarbonizing industrial heat with its innovative solution, Heatcube. Industrial heat production is responsible for 40% of global carbon emissions - primarily driven by fossil fuels - but this often-overlooked emitter can be decarbonized today with Heatcube.

Heatcube provides a sustainable, cost-effective, plug-and-play solution that efficiently captures and stores renewable energy, converting it into electricity-powered heat to generate steam for industrial applications. Kyoto Group is on a mission to empower industries with renewable thermal energy, paving the way for a world powered by nature.

Founded in 2016, Kyoto Group has offices in Oslo, Norway, and Seville, Spain, and operates through subsidiaries in Denmark. Our principal owner, Glentra, a leading Danish energy fund, drives the green transition through innovative decarbonization and energy efficiency technologies. Visit us at www.kyotogroup.no and follow us on LinkedIn.

About Hebsgaard | Larsen

Hebsgaard | Larsen is a boutique advisory firm specializing in industrial green transition, industrial symbiosis, and the interaction between industry and energy systems.

H|L assists companies, energy stakeholders, municipalities, and others-both nationally and internationally-in identifying and conceptualizing multi-stakeholder transition potentials. They help align opportunities with the relevant technologies and business models to ensure that the transition is realized now.

Behind H|L are Anders Bøje Larsen and Jakob Hebsgaard, who together bring extensive experience in techno-commercial strategy and business development, as well as the execution of complex projects.