Polar Night Energy
Develops a battery that stores electricity as heat within sand for commercial and industrial applications.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
| investor | €0.0 | round | |
* | €7.6m | Seed | |
| Total Funding | 000k | ||
| EUR | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 99 % | 98 % | 52 % | 720 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (789 %) | (184 %) | (94 %) | (229 %) | (290 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
Polar Night Energy specializes in high-temperature thermal energy storage. The company has developed a large-scale energy storage system, known as a "Sand Battery," which utilizes sand or similar materials to store energy in the form of heat.
The system is designed to store surplus electricity generated from renewable sources, such as wind and solar power. This energy is then used to heat the sand to high temperatures. The stored heat can be discharged and used for various purposes, with a primary application being the supply of heat to district heating networks. This addresses the challenge of energy intermittency from renewable sources by providing a stable and consistent heat supply.
The company operates on a project-based business model, constructing and commissioning these Sand Batteries for clients. An example is the industrial-scale unit built for the power company Loviisan Lämpö in Pornainen, Finland. This battery has a thermal power of 1 MW and a capacity of 100 MWh, demonstrating its application for municipal or utility-scale operations. The target clients are power companies and other entities that require large-scale thermal energy storage solutions.
Keywords: thermal energy storage, sand battery, renewable energy, district heating, energy storage solutions, heat storage, clean energy, energy grid, long-duration storage, cleantech