GEA acquires stake in heat storage provider Caldera
Summary
We are seeing major benefits in electrification and using thermal storage to deal with supply and demand volatility in generating heat throughout our end-markets. Thats why we have invested into Caldera, says Kai Becker, CEO of GEAs Heating & Refrigeration Technologies Division. It bridges the gap between variable renewable electricity generation and industrial process heat demand and offers a scalable, economically viable alternative to fossil fuel boilers. With GEAs global reach, process and industrial heating expertise, we can accelerate the deployment of such complementary solutions to industries worldwide.The investment from GEA is a game-changing opportunity for our company and a strong endorsement of our technology, says James Macnaghten, CEO of Caldera. I believe that working with GEA and especially leveraging GEAs vast experience will help deploy our Storage Boilers into even more companies such as breweries, distilleries, the dairy industry as well as the food and pharmaceutical industries, with the ultimate goal of reducing carbon emissions for the benefit of all, Macnaghten concludes.