EnergyNest is honoured to have received funding from the European Union’s Horizon2020 Research and Innovation program under grant agreement number 744940 in October 2016. This confirms that the European Union regards EnergyNest as a highly innovative company with a technology relevant for the high-growth market of energy efficient solutions. “This puts EnergyNest in the Champions League of European startups”, says Mathias Aguirre Havgar from Innovation Norway, the national contact for the Horizon2020 program. Innovation Norway has earlier supported initial research and development of the thermal energy storage pilot of EnergyNest.
The project titled “Reducing carbon footprint by thermal energy storage” has the objective to identify a partner for demonstrating the thermal energy storage technology of EnergNest, by capturing waste heat from industrial installations, surplus or curtailed wind energy and return it as either heat/process steam, electricity or a combination of both. The feasibility study commences in November 2016 and will be finalized by April 2017.
“In the context of this feasibility study funded by the European Union we will identify a commercial partner to build a first demonstrator”, says Nils Høivik, Directory Technology of EnergyNest. Together with this partner EnergyNest intends to apply for funding a demonstrator under the Horizon2020 SME instrument Phase II by April 2017. In case of a successful application, the first commercial demonstrator might receive funding of up to 2.5 million EUR from the European Union.