Company

Lappeenrannan Energia

Who are we

Pioneer of a carbon-neutral future

We are pioneers in a transformative shift that initially impacts the use of fossil fuels in industrial steam production and gradually expands towards more diverse applications. We will be a significant part of the electricity grid’s demand response capacity. We provide an opportunity for the continuous growth of renewable energy sources by creating flexibility in the power grid

Elstor-energiavaraston sisänäkymä: teollisen lämpöakun laitteisto ja putkisto

How Elstor Oy started

From Research to Operational Company

Our story began in 2016 when Professor Jero Ahola, an energy efficiency professor at LUT University, and serial entrepreneur Ari Piispanen from Lappeenranta explored alternative solutions for energy storage.

The prices of electrochemical batteries are too high for economically viable storage, and the required raw materials are rare and expensive. Industrial steam production relies heavily on fossil fuels, making steam production currently more expensive than electricity production.

As a result of the research, Elstor Oy, a company focusing on thermal energy storage, was founded in July 2017. The development of the energy storage has been ongoing since then and continues. Our current storage solution, proven to be operational in industrial use, has been in operation since 2021.

The experiences with our equipment have been positive. Through the first pilots and commercial implementations, we have evolved the device into its current form – functional, profitable, and sustainable.

2017
Founded
Elstor Oy was established as a result of research in collaboration with serial entrepreneur Ari Piispanen and LUT University Professor Jero Ahola
18
Employees
Elstor Oy’s team combines decades of experience in the technology sector with the expertise of a new generation. Our employees are professionals in their respective fields, and their expertise supports the development, implementation, and continuous improvement of Elstor Oy’s solutions. We work closely with LUT University, for example through thesis projects and student employment.
> 3 M€
Capital loan received from the Climate Fund
Elstor Oy was the second funding target of the Climate Fund. The financing will accelerate the development of Elstor’s business and contribute to emissions reduction in the Finnish industry

Mission

We make AI-optimized, plug-and-play thermal storage that
delivers 100% pure steam and grid-balancing flexibility with
proven commercial profitability.

Vision

To lead the transition to emission-free industrial heat by scaling the Finnish mastery of steam into a global standard for pure, stable power.

Values

Innovation. Reliability. Customer satisfaction. Together more.

Ready for change?

This is how we make your processes fossil-free

The Elstor system makes clean electricity a cost-effective and fully emission-free alternative to fossil fuels. The storage capacity is always dimensioned according to the needs of each site. Contact us, and we will prepare a tailored profitability calculation for your operations.

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Kari Suninen

Kari Suninen

Co-founder & CEO M.Sc. (Tech.) in Industrial Engineering & Management

Tuomo Honkamäki

Sales Manager