Finland
Elstor Oy, with its slogan "New power-to-heat thermal energy storage technology for emission free low-cost steam and heat.", positions itself as a key playmaker in the clean energy sector. Founded in 2017, the Finnish company is pioneering zero-emission solutions for steam and heat production through its power-to-heat thermal energy storage technology.
Elstor's innovation holds the promise to replace traditional gas, oil, and biofuel systems, boasting both eco-friendliness and cost-efficiency. Since its inception, Elstor has proven its market validity with its first commercial unit operational since October 2021 and amassing 12 commercial contracts, a significant achievement globally.
Elstor's units range from 5 to 100 MWh with an output of 1 to 20 MW, and each 5 MWh unit saves approximately 480 tons of CO2 annually, contributing to a sustainable future. Their products support demand response and grid balance control effectively, underlined by an attractive economic payback time.
The company gained recognition among green initiatives and secured investment from Ilmastorahasto - The Finnish Climate Fund in May 2021. This funding positions Elstor as a significant player in the Energy sector and a promising investment, with an eye on environmental impact and substantial return on investment.
