Updates

EnergyNest becomes technology partner of LDES Council and engages in net-zero heat working group

The Long Duration Energy Storage (LDES) Council, a global CEO-led organization focused on replacing the use of fossil fuels to meet peak demand with zero-carbon long duration energy storage, today welcomes an additional eleven new members. The organization now has a total of 47 diverse companies in regions across the world representing the full spectrum of the energy transition – including technology innovators, equipment providers, renewable energy companies, utilities, investors, and end-users.

Joining the LDES Council are six new anchor members: Compass Datacenters, INNIO, Quinbrook Infrastructure Partners, Reliance, Shell, and The Voith Group; as well as five technology members: Breeze, Brenmiller Energy, EnergyNest, Invinity Energy Systems, and SaltX Technology.

The addition of these new members builds upon the strong momentum the LDES Council has gained since launching in November 2021 at COP26 in Glasgow. The diverse perspectives and broad range of experience offered by the new LDES Council members will add tremendous value as the organization works to support governments, grid operators and major electricity users in the global adoption of cost-effective long duration energy storage to replace the use of fossil fuels.

In 2022, the LDES Council is prioritizing research into a number of decarbonization topics, led by Working Groups formed from member company representation. EnergyNest will focus on the following working group:
Net-zero heat: Heat decarbonization is poorly understood and underrepresented in global efforts despite constituting nearly half of global energy consumption. A comprehensive fact-base on net-zero heat along with a standardized perspective on heat decarbonization pathways and cost benchmarking will help illustrate the market potential of thermal LDES technologies, and improve optimization of energy systems overall through coupling of power, heat, and hydrogen.

Christian Thiel on EnergyNest joining the LDES Council: “For EnergyNest, it is all about making a true energy transition come to life and enable a world powered by renewables with reliable thermal energy storage. We are very happy to see an increasing focus and pace on heat and its importance for decarbonization, also now with the Net Zero Heating initiative driven by LDES. Industrial energy consumption with industrial heat as the main driver accounts for about one third of global energy consumption. The willingness to decarbonize and act will determine how fast we can make a change, and realize carbon reduction and efficiency gains. The LDES Council brings together innovative companies and smart people, who are all about constantly pushing the boundaries by developing new, sustainable and green technologies. We are proud to become part of this initiative and put industrial heat on the agenda of industry and governments.”

 

Please find the full press release from LDES Council and more information on LDES in general here: https://www.ldescouncil.com/news/long-duration-energy-storage-council-welcomes-eleven-new-members-demonstrating-continued-diverse-interest-in-using-ldes-technologies-to-enable-a-secure-low-carbon-energy-future/

 

Webinar: Enabling energy transition with thermal technologies on March 31, 2022

Organized by the German Association for Concentrated Solar Power (DCSP) and the German Energy Storage Systems Association (BVES) as an official side event to the Berlin Energy Transition Dialogue, Dr. Magnus Mörtberg will be part of the webinar “Enabling Energy Transition with Thermal Technologies”.

Magnus will be speaking on Supporting Decarbonisation at Yara with balancing their steam grids using thermal storage as part of Session 1 – Enabling Heat Transition for the Industry Heat Supply & Flexibility Options with Thermal Technologies from 2.00 pm – 3.30 pm CET. The event is held online.

Please find all information on the webinar, the programme and registration here: https://www.bves.de/bves-dcsp-event-enabling-energy-transition-thermal-technologies/

Thermal technologies like concentrated solar power and thermal energy storage systems are key for the decarbonisation of the heat and power sector. Thermal technologies like concentrated solar power and thermal energy storage are key for decarbonizing energy systems. They enable the reliable provision of green heat, contribute to increasing energy efficiency and provide flexibility for both the heat and power sectors.

 

 

CEO round-table: Technology Unlocks in the Energy Transition to follow up on COP26

McKinsey & Company invites to the COP26 Energy Transition follow-up CxO panel event “Technology Unlocks in the Energy Transition” on March 9, during CERAWeek in Houston or virtually via live broadcast. At COP26, they hosted an event on ‘Managing in the Energy Transition’, where technology, commercial, policy and the financing unlocks needed to meet net-zero were discussed. This is part of a series to explore these themes and convene decision-makers to continue the dialogue.

During this upcoming panel session, EnergyNest CEO Christian Thiel will be part of a panel and roundtable. The session will focus on the discussion of the technological breakthroughs required to accelerate the implementation and adoption of CCUS, DAC, LDES and Electrolysis.

More details on the event and registration can be found here: https://www.mckinsey.com/business-functions/sustainability/our-insights/energy-transition-ceo-panel

 

EnergyNest CEO Christian Thiel speaking at IEW 2022 in London

CEO Christian Thiel will be part of a panel on Feb 24 at 10.45 GMT at International Energy Week 2022 in London: “Mission possible: how can energy providers and sectoral users transform the sustainable energy system at pace? Decarbonizing the hard-to-abate parts of the energy system: how can companies and governments make the most from industry and transport transformation?”

The panel is comprised of a high-profile range of companies and speakers, with Louise Kingham CBE FEI from bp, Morten Bo Christiansen from A.P. Moller – Maersk, Michele Fiorentino from Baker Hughes, Anthony Hobley from Mission Possible Partnership, Bjørn Otto Sverdrup from OGCI (Oil and Gas Climate Initiative), moderated by Chantal Beck from McKinsey & Company.

More details on the event and registration can be found here: https://www.ieweek.co.uk/

 

PRESS RELEASE: EnergyNest closes €110m transaction with M&G-backed Infracapital

(Oslo/Hamburg/London, 13 July 2021)

EnergyNest, the global market leader in thermal batteries, today announces it has closed the €110 million transaction with Infracapital, the infrastructure equity investment arm of the FTSE 100 listed M&G plc.

With the investment into EnergyNest finalised, the company will embark on its ambitious international growth path. Part of this growth path is to roll out an offering of fully financed, turnkey ThermalBattery™ solutions for its customers.

Christian Thiel, EnergyNest CEO, said:

“This is a huge milestone for us at EnergyNest. We are raring to go: our technology is proven, recognised and ready to save millions of tonnes of CO2.”

 Andy Matthews, Head of Greenfield at Infracapital, said:

“We are delighted to start work with EnergyNest and to be involved in the future growth of such an exciting company. EnergyNest’s thermal storage technology will play a vital role in achieving carbon reduction targets and we see real value for our investors.”

With all eyes on net zero, EnergyNest’s technology can go a long way in reducing emissions and tackling underutilization of energy in hard to abate industrial sectors. By electrifying and flexibilizing process heat, EnergyNest increases energy efficiency of industrial manufacturers and enables them to switch to renewables while maintaining stable and efficient production of their products.

 

NOTES TO EDITORS

Decarbonising industrial processes which generate excess heat remains one of the major challenges in the global fight against climate change. The electrification of industrial heat is emerging as a significant decarbonization opportunity. EnergyNest has developed and implemented a cost-effective technology that allows either the use of industrial waste heat as primary energy or the use of renewable power in industrial heat processes – a market that is estimated to be worth around EUR 300 billion by 2030.

EnergyNest has a proven track record and has several commercial projects in the pipeline, including a ThermalBattery™ for a solar energy plant of Italian energy company Eni, and a “steam-on-demand” project with Norwegian chemical company Yara.

EnergyNest was advised in this transaction by Augusta & Co, led by Charlie Hodges.

Media contacts:

U.K.

Inez Vilar, Brunswick Group – ivilar@brunswickgroup.com / +44 782 352 7145

GERMANY

Tobias Niehaus, Brunswick Group – tniehaus@brunswickgroup.com / +49 174 1952 439

About EnergyNest:

EnergyNest is a Norwegian technology company founded in 2011. The company has developed a highly flexible Thermal Batteries, which enable customers along the entire energy system to maximize the value of their energy. It is the first company that developed Thermal Batteries on a market-ready level. EnergyNest has already several commercial projects under development with the first one to be finalised in the first half of 2021. EnergyNest’s technological solutions have been recently recognised with the following awards: Mission Innovation TOP 100 Global Innovations; Nordic Cleantech winner; Horizon2020 SME-I Award; WWF Climate Solver Award.

www.energy-nest.com

About Infracapital:

Infracapital invests in, builds and manages a diverse range of essential infrastructure to meet the changing needs of society and support long-term economic growth. We take an active role in all of our investments, whether nascent or large, to fulfil their potential and ensure they are adaptable and resilient. Our approach creates value for our investors, as we target investments with the scope for stable and sustainable growth. Our portfolio companies work closely with the communities where they are based, to the benefit of all stakeholders. Infracapital is well positioned to deliver the significant investment required to help build the future. The founder-led team of experienced specialists has worked with more than 50 companies around Europe and has raised and manages over £6.5 billion of client capital across six funds.

Infracapital is part of M&G Plc, a leading European savings and investments business. M&G manages the long-term savings of more than 5 million people and is a major investor in the UK and in the global economy. Total assets under management and administration are £367 billion (as at 31 December 2020).

www.infracapital.co.uk

PRESS RELEASE: EnergyNest secures €110m investment from M&G-backed Infracapital

(Oslo/Hamburg/London, 12 April 2021)

EnergyNest, the global market leader in Thermal Batteries, today announces it has signed an investment agreement with Infracapital, the infrastructure equity investment arm of the FTSE 100 listed M&G plc. The agreement comprises a €110 million investment into EnergyNest to enable further international growth providing financed turnkey energy storage solutions for industrial clients. Infracapital will be the largest shareholder in the business.

Following significant growth and international expansion of the Norwegian technology company, Infracapital has taken the opportunity to invest in the ThermalBattery™ leader in what has been evaluated to be a €300+ billion market. EnergyNest is one of the first thermal storage companies globally with a market ready Battery and projects in execution, including for Norwegian chemical giant Yara, and Italian energy company Eni where installation is expected to take place in Q2 this year. The additional funding will enable the scaling of the deployment of EnergyNest’s Thermal Batteries, that are designed to store energy in the form of heat and help decarbonize industrial heat processes.

With the EU’s target to reduce CO2 emissions by at least 55% by 2030, and bullish international targets to reach net zero and ‘Build Back Better’, decarbonizing hard-to-abate sectors will be a major challenge in the coming years. The investment from Infracapital will allow EnergyNest to offer long term, financed energy storage solutions to customers with substantial energy and carbon cost savings.

Christian Thiel, EnergyNest CEO, said:
“Together with Infracapital we can deliver CO2 and energy cost savings to even more customers from day one. With our fully-financed turnkey solutions we make it easier for industry players to adapt our climate friendly technology at zero upfront investment costs. Infracapital are the ideal partner for us to grow EnergyNest internationally, with their invaluable experience and network.”

Andy Matthews, Head of Greenfield at Infracapital, said:
“We are excited to announce this partnership with EnergyNest. Its technology is providing innovative environmental and economic benefits. With Governments around the world putting in place ambitious carbon reduction targets, we see great potential for growth. We are delighted to play a role in providing a solution to store and decarbonise energy whilst creating long-term value for our investors.”

This investment is the latest milestone following the most successful year since EnergyNest’s inception. EnergyNest has seen a rapid uptake in interest in its technology in 2020, including a partnership with Siemens Energy involving a first joint project for a leading Japanese energy company as well as new client relationships. Further, EnergyNest has delivered its first commercial project to Italian utility Eni and started the execution phase of further projects, one of them being awarded and funded by Innovation Norway. EnergyNest itself grew internationally in 2020, opening a new subsidiary in Hamburg, Germany and hiring senior executives from Denmark’s Orsted.

NOTES TO EDITORS
Decarbonising industrial processes which generate excess heat remains one of the major challenges in the global fight against climate change. The electrification of industrial heat is emerging as a significant decarbonization opportunity. EnergyNest has developed and implemented a cost-effective technology that allows either the use of industrial waste heat as primary energy or the use of renewable power in industrial heat processes – a market that is estimated to be worth around EUR 300 billion by 2030.

EnergyNest has a proven track record and has several commercial projects in the pipeline, including a ThermalBattery™ for a solar energy plant of Italian energy company Eni , and a “steamon-demand” project with Norwegian chemical company Yara. EnergyNest was advised in this transaction by Augusta & Co, led by Charlie Hodges.

Media contacts:
U.K.
Inez Vilar, Brunswick Group – ivilar@brunswickgroup.com / +44 782 352 7145

GERMANY
Tobias Niehaus, Brunswick Group – tniehaus@brunswickgroup.com / +49 174 1952 439

About EnergyNest:
EnergyNest is a Norwegian technology company founded in 2011. The company has developed a highly flexible Thermal Batteries, which enable customers along the entire energy system to maximize the value of their energy. It is the first company that developed Thermal Batteries on a market-ready level. EnergyNest has already several commercial projects under development with the first one to be finalised in the first half of 2021. EnergyNest’s technological solutions have
been recently recognised with the following awards: Mission Innovation TOP 100 Global Innovations; Nordic Cleantech winner; Horizon2020 SME-I Award; WWF Climate Solver Award.

About Infracapital:
Infracapital invests in, builds and manages a diverse range of essential infrastructure to meet the changing needs of society and support long-term economic growth. We take an active role in all of our investments, whether nascent or large, to fulfil their potential and ensure they are adaptable and resilient. Our approach creates value for our investors, as we target investments with the scope for stable and sustainable growth. Our portfolio companies work closely with the
communities where they are based, to the benefit of all stakeholders. Infracapital is well positioned to deliver the significant investment required to help build the future. The founder-led team of experienced specialists has worked with more than 50 companies around Europe and has raised and manages over £6.5 billion of client capital across six funds.

Infracapital is part of M&G Plc, a leading European savings and investments business. M&G manages the long-term savings of more than 5 million people and is a major investor in the UK and in the global economy. Total assets under management and administration are £367 billion (as at 31 December 2020).

www.infracapital.co.uk

Tagesspiegel: Christian Thiel – CEO des Wärmespeicherherstellers EnergyNest

Christian Thiel

CEO des Wärmespeicherherstellers EnergyNest

By Bent-Erik Scholz

Er begann bei BMW, wurde später McKinsey-Berater und Investment-Banker. Der Anstoß, sich beruflich mit der Energiewende zu beschäftigen, kam für Christian Thiel mit dem Atomausstieg. Heute leitet er ein norwegisches Energiespeicher-Start-up und ernährt sich vegan. 

Als Christian Thiel ans Telefon ging, hätte er eigentlich in Berlin sein sollen. Das norwegische Start-up EnergyNest, das er leitet, ist unter den 15 Finalisten der 570 Bewerber um den SET-Award 2020. Das ist ein internationaler Wettbewerb für Start-ups mit Ideen für die Energiewende, ausgerichtet von der Deutschen Energieagentur. Doch wie so viele Veranstaltungen findet auch die am Montag begonnene SET Week, im Rahmen derer der mit 10.000 Euro dotierte Preis verliehen wird, aufgrund der Coronakrise digital statt.

 

Unter normalen Umständen würde Thiel auch regelmäßig zu Kunden reisen. EnergyNest stellt thermische Batterien her. Diese können überschüssige Wärme speichern und machen deren Energie zeitverzögert nutzbar. Dadurch kann CO2-Ausstoß verhindert werden. Vergleichbare Angebote gibt es auch von anderen Unternehmen. Das Berliner Start-up Lumenion etwa stellt ebenfalls thermische Energiespeicher her und setzt gerade ein Pilotprojekt in Berlin um, bei dem Wärme in Stahl gespeichert wird. Dass auch andere junge Unternehmen in seinem Metier aktiv sind, findet Thiel gut. „Das heißt, dass eseinen Markt gibt. Allerdings sind wir derzeit die Einzigen, die diese Speicher bereits kommerziell vertreiben und auch bauen“, sagt der EnergyNest-Chef.

Bei BMW war er Teil einer Maschinerie, heute hat er eine Mission 

Mit den Maßnahmen zur Eindämmung der Coronapandemie kamen bei EnergyNest Umstrukturierungen. Doch damit geht der Norddeutsche souverän um. „Wir haben gute Erfahrungen im Lockdown im Frühjahr gesammelt“, sagt der 43-Jährige. „Mit ein bisschen Kreativität kriegt man erstaunliche Sachen verrichtet.“  Nach kurzem Stillstand der Produktion habe das Unternehmen vor Kurzem seine ersten beiden Module für einen italienischen Kunden in den Niederlanden fertiggestellt – unter Einhaltung der Hygieneregeln.

Nach sechs Jahren auf dem CEO-Posten des norwegischen Start-ups in Billingstad bei Oslo erlebte Thiel Corona-bedingt erstmals eineWerksbesichtigung via Videochat. Auf diesem Wege sollen Informationen über eine Anlage gesammelt werden, bei der ein EnergyNest-Speicher eingebaut werden soll. Unter Normalbedingungen würde die Planung für den Einbau eines Speichers vor Ort besprochen. Thiel kümmert sich darum, das Start-up wachsen zu lassen, Projekte abzuwickeln und neue Kunden zu finden. „Es fühlt sich nicht mehr wie Arbeit an, sondern eher wie eine Mission – umgeben von Leuten, die an einem Strang ziehen“, sagt er. „Keine Spielchen, ein gemeinsames Ziel vor Augen“, sagt Thiel.

Vor seinem Einstieg bei EnergyNest arbeitete Thiel unter anderem bei BMW. „Anfang der 2000er war das eine aufregende Zeit“, resümiert er über den Automobilsektor. Er absolvierte ein duales Studium zum Industriekaufmann und arbeitete danach weiter bei BMW. Jedoch fehlte es ihm dort an kreativen Entfaltungsmöglichkeiten: „Das Positive, wenn man bei einem Konzern wie BMW arbeitet, ist, dass man ein kleiner Teil einer komplexen Maschinerie ist. Das Negative ist, dass man ein kleiner Teil einer komplexen Maschinerie ist.“

Das Umdenken begann mit dem Atomausstieg

Angestoßen vom deutschen Atomausstiegentwickelte er Interesse an der Energiewende und ihren technischen Aspekten. Nach weiteren Stationen, unter anderem bei McKinsey und der UBS Investment Bankbewarb er sich 2014 bei EnergyNest. Dort stehen ihm als CEO nun die Entfaltungsmöglichkeiten zur Verfügung, die er für seine Arbeit braucht. „Ich bin quasi zu immer kleineren Firmen gegangen, bei denen ich aber immer höhere Freiheitsgrade hatte, mich zu engagieren“, sagt Thiel.

Auch privat ergreift Christian Thiel einige Maßnahmen. Mit seiner beruflichen Tätigkeit entwickelte sich sein ökologisches Bewusstsein. Auf CO2-intensive Lebensmittel der Fleisch- und Milchindustrie versucht er zu verzichten. Thiel lebt mit seiner Familie mittlerweile vegan. Statt zweier Fahrzeuge hat seine Familie nur noch ein Stadtauto. Ihre Urlaubsziele liegen nun häufiger auf dem eigenen Kontinent. Sogar auf Importweine verzichtet Thiel inzwischen. „Deutsche Weine schmecken ja auch ganz gut“, sagt er. Bent-Erik Scholz

 

Wer rettet das Klima? Die Politik oder der Einzelne?
Beide, wobei der Einzelne der Vorreiter ist. Durch aktive Maßnahmen und konkrete Forderungen von einzelnen Menschen sowie Unternehmen kann die Politik auf Probleme und dazugehörige Lösungen aufmerksam gemacht werden. Die Politik wiederum verfügt über die Mittel, den Rechtsrahmen zu schaffen, in dem zielführende Maßnahmen als neue Standards auf breiter Fläche implementiert werden.

Auf welchen Flug würden Sie nie verzichten?
Privat fällt es mir nicht schwer, auf Flüge zu verzichten. In den Urlaub kann man auch mit dem Zug oder dem Auto fahren. Was den Beruf angeht, so möchte ich nicht auf die Flüge verzichten, die die Technologie voranbringen und somit eine neue Lösung für das CO2-Problem bieten können. Dazu gehören zum Beispiel meine Flüge nach Oslo in die EnergyNest-Zentrale oder zu Kunden. Mit den Einsparungen unserer thermischen Batterie können wir diese Flüge weit überkompensieren. Die Coronakrise hat uns aber auch gezeigt, dass wir auf viele Flüge verzichten können. Wir haben vermehrt auf virtuelle Möglichkeiten zurückgegriffen, wo das vorher undenkbar war. Ich hoffe, dadurch auch zukünftig den ein oder anderen Flug ersetzen zu können.

Wer in der Energie- und Klimawelt hat Sie beeindruckt?
Wenn ich mich zurückerinnere, hat mich Dr. Mojib Latif, der schon sehr früh Klimazusammenhänge anschaulich erläuterte, für das Thema gewonnen. Aus CEO-Sicht beeindruckt mich aber auch Elon Musk. Von seiner Vision, die er mit Progressivität und einer gewissen Aggressivität durchsetzt, kann man sich als CEO eine Scheibe abschneiden.

Welche Idee gibt der Energiewende neuen Schwung?
Ganz ehrlich, ich glaube unsere. Mit thermischen Speichern bringen wir die Energiewende in den Bereichen voran, in denen es bislang die geringsten Fortschritte gab. Wir verstehen unter Energiewende bis dato, Solaranlagen auf Dächer zu bauen und überall Windanlagen hinzustellen. Damit haben wir zwar 50 Prozent grünen Strom bis heute erreicht, aber in Konsequenz zahlen wir in Deutschland weltweit mit die höchsten Strompreise und in den anderen Sektoren sind wir kaum vorangekommen. In der Speicherung von Wärme liegt enormes Potential, den CO2-Ausstoß mit einfachen Mitteln massiv zu reduzieren. Und weniger Energie benötigen wir dadurch ebenfalls.

Tagesspiegel: Christian Thiel – CEO of the thermal storage manufacturer EnergyNest

Christian Thiel

CEO of the thermal storage manufacturer EnergyNest

By Bent-Erik Scholz

He started at BMW, later becoming a McKinsey consultant and investment banker. Christian Thiel’s impulse to get involved with the energy transition professionally came with Germany’s phase-out of nuclear power. Today, he runs a Norwegian energy storage start-up and eats a vegan diet.

When Christian Thiel answered the phone, he really should have been in Berlin. The Norwegian start-up EnergyNest, which he heads, is among the 15 finalists of the 570 applicants for the SET Award 2020, an international competition for start-ups with ideas for the energy revolution, organised by the German Energy Agency. But like so many other events, the SET Week, which began on Monday and at the end of which the 10,000-euro prize is awarded, is also taking place digitally due to the corona crisis.

Under normal circumstances, Thiel would also travel regularly to customers. EnergyNest manufactures thermal batteries. These can store excess heat and make energy available with a time delay. In this way, CO2 emissions can be prevented. Comparable offers are also available from other companies. The Berlin start-up Lumenion, for example, also produces thermal energy storage systems and is currently implementing a pilot project in Berlin in which heat is stored in steel. Thiel is pleased that other young companies are also active in his field. “That means that there is a market. However, we are currently the only ones who are already selling and building these storage units commercially,” says the EnergyNest boss.

At BMW, he was part of a machine, today he has a mission.

Due to measures to contain the corona pandemic there were also restructurings at EnergyNest necessary. But the North German is dealing with this in a confident manner. “We had a good experience in the lockdown in spring,” says the 43-year-old. “With a little creativity you can do amazing things.” After a brief production pause, the company recently completed its first two modules for an Italian customer in the Netherlands – in compliance with hygiene regulations.

After six years in the CEO position of the Norwegian start-up in Billingstad near Oslo, Thiel had to have his first tour of a plant via video chat, due to corona. The aim is to gather information about a plant where an EnergyNest storage system is to be installed. Under normal conditions, the planning for the installation of a storage unit would be discussed on site. Thiel is dealing with allowing the start-up to grow, handling projects and finding new customers. “It no longer feels like work, but more like a mission – surrounded by people pulling together,” he says. “No games, just a common goal in sight,” says Thiel.

Before joining EnergyNest, Thiel worked for other companies, including BMW. “It was an exciting time at the beginning of the 2000s,” he sums up the automotive sector. He completed a dual course of study to become an industrial clerk and then continued working at BMW. However, he lacked creative development opportunities there: “The positive thing about working for a corporation like BMW is that you are a small part of a complex machinery. The negative is that you are a small part of a complex machinery”.

The phase-out of nuclear power led to a rethink

Prompted by the German nuclear phase-out, he developed an interest in the energy transition and its technical aspects. After further stations, including at McKinsey and UBS Investment Bank, he applied for a job at EnergyNest in 2014. There, as CEO, he now has the development opportunities he needs for his work. “I basically went to smaller and smaller companies, but with each move I had ever greater freedom to get involved,” says Thiel.

Christian Thiel also engages with these issues in his private life. His ecological awareness developed with his professional activity. He tries to avoid CO2-intensive foods from the meat and dairy industries. Thiel now lives vegan with his family. Instead of two vehicles, his family now only has one city car. Their holiday destinations are now more often on their own continent. Thiel even forgoes imported wines. “German wines taste quite good too,” he says.

What will save the climate? Politics or the individual?

Both, with the individual leading the way. Through active measures and concrete demands from individuals and companies, politicians can be made aware of problems and the solutions to them. Politicians, in turn, have the means to create the legal framework in which targeted measures are implemented on a broad scale as new standards.

Which flight would you never miss?

Privately, I have no difficulty giving up flights. You can also go on holiday by train or car. As far as my job is concerned, I would not want to give up flights, which are advancing our technology and can therefore offer a new solution to the CO2 problem. These include my flights to Oslo to the EnergyNest headquarters or to customers. With the savings from our thermal battery, we can more than compensate for these flights. But the Corona crisis has also shown us that we can do without many flights. We have increasingly resorted to virtual possibilities where this was previously unthinkable. I hope that this will enable us to replace further flights in the future.

Who in the energy and climate world has impressed you?

When I think back, I was won for the subject by Dr Mojib Latif, who explained climate interrelationships very early on. But from a CEO’s point of view, I was also impressed by Elon Musk. As a CEO, you can take a leaf out of his book, which he imbues with progressiveness and a certain aggression.

What idea will give the energy revolution new momentum?

Quite honestly, I believe it’s ours. With thermal storage, we are advancing energy system transformation in those areas where progress has been least advanced so far. To date, we have understood energy system transformation to mean building solar systems on roofs and installing wind turbines everywhere. Although we have achieved 50 percent green electricity to date, as a result we pay one of the highest electricity prices in the world in Germany and have made little progress in other sectors. There is enormous potential in the storage of heat to massively reduce CO2 emissions by simple means. And we also need less energy as a result.

The official handover of our first commercial Thermal Battery

The official handover of our first commercial Thermal Battery to our customer Eni Energies at Services. This milestone is a clear-cut example that industrial decarbonization is by no means abstract, overambitious or too complex to achieve. Our standardized, robust and scalable Thermal Battery technology is already commercially available, allowing all our customers to transform their net zero carbon roadmaps into a sustainable reality. Have a look how easy and seamless this process is.