The Finnish Climate Fund to accelerate Elstor’s solution for reducing emissions in steam and heat production as part of the electrification of industry

The Finnish Climate Fund has awarded a capital loan of up to EUR 4 million to Elstor Oy to speed up the rollout of their energy solution. The energy storage solution developed by Elstor offers a cost-efficient method of replacing fossil fuels in steam and heat production in, for example, food industry and medium-size district heating facilities.  In Finland, the market potential of the solution is nearly half a million tonnes of reduced emissions, which accounts for approximately 1% of Finland’s total emissions.

The electrification of industry and adoption of low-carbon solutions and energy generation are the first steps towards carbon neutrality.

“Electrification and transition to renewable energy sources are often raised as the most significant climate actions. However, the production of renewable energy also requires storage capability and while electricity production can be emissions-free, the heat and steam required by industrial processes are typically produced with fossil fuels. Elstor’s heat storage solution is a response to both these needs in a scale that is feasible and cost-efficient for any customer interested in reducing emissions, such as a bakery or a local energy company,”says Kari Suninen, CEO of Elstor, describing the significance of the innovation.

Read more: https://www.ilmastorahasto.fi/en/elstor-climatefund-funding-target/