Finnish Polar Night Energy Successfully Closes €7.6m in Seed Funding to Scale Up Sand Battery Technology — Polar Night Energy
Summary
Jonathan Oppenheimer is a South African businessman, social impact investor, and conservationist. They have an impressive track record of nurturing Finnish companies into international success stories. Its a great solution to hedge against volatility in electricity prices", says Jens S\xf6derholm, representing Holdix and Turret. We are excited to be part of their journey", says Max von Rettig from PC Rettig & Co Impact AB.The funds will be used for several key purposes, including growing sales and R&D teams to better cater to our customers needs, and advancing our capabilities in converting stored heat back to electricity. Additionally, the new investors will provide invaluable strategic insights and industrial expertise, strengthening our strategic efforts and bringing fresh perspectives to the company.Recently, Polar Night Energy has achieved significant progress with the announcement of a new industrial-scale Sand Battery project with Loviisan L\xe4mp\xf6, a Finnish district heating company, in addition to a partnership with Ilmatar, a Nordic energy company and independent power producer (IPP), aimed at storing surplus wind and solar energy in large-scale Sand Batteries.