Kyoto Group AS

Environmental & Social Information • Feb 6, 2023

Kaura Coproducts aims to use Heatcube to lower emissions

Kaura Coproducts aims to use Heatcube to lower emissions

Oslo, Norway 6 February January 2023 - Kyoto Group is pleased to announce that

it has signed a Letter of Intent (LOI) with Kaura Coproducts of Seville, Spain,

to supply a Heatcube thermal energy storage solution.

Kaura Coproducts is dedicated to the production of high-added-value raw

materials for pet food and aquafeed, as well as the revaluation of animal by

-products for the energy sector.

The intention is to substitute 40 percent of the current consumption of fossil

fuels with the Heatcube so to provide stable and sustainable heat generation for

the production process.

The Heatcube planned for installation at the facility will have 80 MWh of

thermal storage capacity, with a charge capacity of 10 MW and a discharge

capacity of 5 MW. Total heat consumption at the facility is 24 GWh per year. It

is planned for operation for 17 hours, 5.5 days per week.

"A sustainable use of resources is at the heart of our business. We want to

extend this to energy resources by shifting from fossil fuels to renewable

energy sources. To achieve this, we need energy storage, and the Heatcube is

perfectly positioned for the process heat that we need," says Juan Cabotá

Jiménez, Head of Communication of Kaura Coproducts.

Pending final negotiations, the installation is estimated to happen in the first

half of 2024.

"We're excited about the cooperation with Kaura, which again illustrates the

potential for Kyoto in the Spanish market, where the basic idea of using molten

salt to store heat is broadly accepted due to its use in concentrated solar

plants. It also illustrates the demand for sustainable heat in the agricultural

industry," says Tim de Haas, Chief Commercial Officer of Kyoto Group.

Kyoto's Heatcube provides thermal energy storage and heat generation in one

product. It supplies industrial customers with the technology needed to lower

both their costs for producing process heat and their CO2 emissions through the

use of intermittent renewable energy sources instead of fossil fuels for heat

production.

The Kyoto Heatcube can be configured with storage capacities from 16 MWh to over

96 MWh, with a discharge effect for each Heatcube of up to 5 MW. It is an

innovative, low-cost, and modular storage solution for thermal energy that can

use multiple renewable energy sources to heat molten salt to over 450 degrees

Celsius. The high-temperature salt is then used to produce steam for industrial

production processes.

For further information, please contact:

Håvard Haukdal, Kyoto Group CFO

havard.haukdal@kyotogroup.no

+47 48 10 65 69

About Kyoto Group

Heat accounts for half of industrial energy consumption. Traditionally, nearly

all of it is based on fossil fuels. Kyoto Group's Heatcube, a thermal energy

storage (TES) solution, provides a sustainable and cost-effective alternative by

capturing and storing abundant but variable energy from sources such as solar

and wind. Founded in 2016, Kyoto Group is headquartered in Oslo, Norway, and has

subsidiaries in Spain and Denmark. The Kyoto share is listed on Euronext Growth

(ticker: KYOTO).

About Kaura Coproducts

KAURA COPRODUCTS is a company dedicated to the production of high added value

Raw Materials for petfood and aquafeed, as well as the revaluation of animal by

-products for the energy sector. All this is carried out thanks to its brands,

RENFEED and RENBIO.