TheStorage
Sand-based thermal energy storage technology to decarbonise industrial heat.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | €1.0m | Seed | |
| Total Funding | 000k | ||
| EUR | 2024 |
|---|---|
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
TheStorage, officially registered as Buffer Solutions Oy, is a Finnish company established in 2023 targeting the significant challenge of decarbonizing industrial heat. Founded by power plant industry experts Olli Hannula, Timo Siukkola, Heikki Hannula, and Esko Kulju, the firm is based in Tampere, Finland. The company has secured a total of €2.15 million in funding through an initial €1 million investment from 2C Ventures and Superhero Capital, followed by an additional €1.15 million from Business Finland to advance its research and development.
The core of TheStorage's business is a thermal energy storage (TES) system designed to help industrial clients transition from fossil fuels to renewable energy sources. The company's technology addresses the intermittency of renewables by capturing electricity when it is abundant and inexpensive—typically from wind and solar—and converting it into high-temperature heat stored in ordinary sand. This stored thermal energy provides a stable, continuous supply of heat for industrial processes, thereby reducing reliance on fossil fuels, lowering energy costs by up to 70%, and cutting greenhouse gas emissions. The business model enables clients to profit from the price fluctuations in the energy market and potentially generate additional revenue through grid balancing services.
TheStorage's product is a modular and scalable energy storage system. It consists of two insulated silos, a patent-pending electric heater, and a proprietary heat exchanger. Sand is heated to over 1000°C and kept in an insulated silo. When energy is required, the hot sand flows through a heat exchanger, transferring its heat to a working medium like steam, thermal oil, or hot air to meet specific industrial needs. The system is designed to be highly efficient, with dynamic sand flow enabling heat transfer that is reportedly ten times more effective than static solutions. The company serves a range of industries, including food and beverage, wood and paper, chemicals, and plastics. The technology is currently in the proof-of-concept phase, with real-world client testing planned for 2025, aiming for eventual full-scale deployment of Combined Heat and Power (CHP) units.
Keywords: thermal energy storage, industrial heat, decarbonization, sand battery, cleantech, renewable energy, energy storage solutions, combined heat and power, green transition, energy cost reduction