The startup develops a system that converts electricity into steam or heat for industrial applications, providing an emission-free alternative to fossil fuels in steam and heat production. This technology enables on-demand energy storage and discharge, addressing the need for cost-effective and sustainable solutions in industrial processes.
Funding
$4.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many industrial processes rely on fossil fuels for steam and heat generation, resulting in substantial carbon dioxide emissions and contributing to climate change. The fluctuating costs and environmental impact of fossil fuels create a need for sustainable and economically viable alternatives.
Solution
Elstor provides a power-to-heat energy storage system that enables industrial facilities to produce steam and heat using renewable electricity. The system stores energy as thermal energy during off-peak hours when electricity prices are low, and then discharges it as heat or steam when needed. By replacing fossil fuels with clean electricity, Elstor's solution reduces CO2 emissions, lowers operational costs, and provides a hedge against volatile fuel prices. The system's modular design allows for scalability and integration into various industrial applications.
Target Audience
Elstor's primary customers are industrial companies in sectors such as food processing, chemical manufacturing, and district heating seeking to reduce their carbon footprint and energy costs.
Features
- Patented thermal energy storage technology with high power-to-heat efficiency (95-97%)
- AI-powered charging algorithm optimizes energy storage based on electricity prices and heat demand
- Modular design allows for customizable storage capacities (5-20 MWh per unit, scalable)
- Remote monitoring and control for optimized performance and integration with existing processes
- Rapid response time (< 1 second) for quick adjustments to changing heat demands
- Compatible with various industrial processes, including food processing, chemical manufacturing, and district heating
- Constructed with readily available and recyclable materials for long-term sustainability