Home Energy services Kyoto Group and Hydro REIN sign a memorandum of understanding to develop combined renewable energy and thermal energy storage solutions for industrial players

Kyoto Group and Hydro REIN sign a memorandum of understanding to develop combined renewable energy and thermal energy storage solutions for industrial players

Oslo, May 3rd 2022

"We are very happy to announce this collaboration with Kyoto Group. Together we
can help our industrial clients decarbonize and optimize both their energy
consumption and their heat demand," says Head of Energy Solutions Nicholas R.
Martin in Hydro REIN. 

The parties agreed to jointly develop and offer a combined service to industrial
partners. Hydro REIN will be offering their renewable energy services including
Kyoto's Heatcube thermal energy storage. Over the next two years, the parties
are planning to carry out three to five pilot and commercial projects with
industrial partners. Kyoto Group will co-design the solution and participate in
serving the clients. 

"We are very excited to partner with a key renewable energy player such as Hydro
REIN to deliver a joint-offering to the Nordic and European market. Being able
to offer industrial heat through a Heatcube thermal battery combined with
guaranteed renewable energy will help the industry reduce emissions and improve
security of supply at lower costs," says Chief Commercial Officer Tim de Haas
from Kyoto Group. 

The Kyoto Heatcube can be configured with capacities from 5 MWh to over 100 MWh,
and with charge- and discharge effect for each Heatcube up to 5 MW. It is an
innovative, low-cost and modular storage solution for thermal energy that can
use multiple renewable energy sources to heat molten salt to over 500 degrees
Celsius. The high-temperature salt is then used to produce steam for industrial
production processes. 

For additional information, please contact:
Kyoto Group
Kyoto Group CEO Camilla Nilsson +47 48 29 56 85 or [email protected] 

Hydro REIN 
Hydro Energy Head of Communication & Public Affairs, Maria Melfald Tveten +47 90
78 38 02 or [email protected]

About Kyoto Group
Kyoto Group offers a thermal battery, the Heatcube, to produce, store and supply
renewable heat to industrial players. The Heatcube secures heat supply based on
renewable energy for industrial production process and thereby enables the
industry to significantly reduce their CO2 footprint. The Heatcube utilizes
lower-cost engery sourced from excess solar and wind energy. 

About Hydro REIN
Hydro Rein was established in 2021 as part of Hydro's strategy to grow in
renewables. The company aims at becoming the preferred supplier of renewable
power and other energy solutions for industrial clients.
Hydro Rein has a significant pipeline of wind and solar projects in Brazil and
the Nordics for long-term power supply to Hydro and other industrial offtakers.
Hydro Rein is also developing a range of energy solutions to assist industries
with the management and optimization of its energy consumption and storage

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Camilla Nilsson, CEO and
interim CFO in Kyoto Group AS, on May 3rd 2022 at 19.10 CEST.

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