Kyoto Group supports Norway’s bold move to ban fossil fuels from Industrial Heat processes
Oslo, Norway 11 October 2024
Kyoto Group welcomes the Norwegian government's proposed ban on the use of fossil fuels in industrial process heat.
The Ministry of Climate and Environment's announced proposal covers indirect heat, processes where the heat source is not in direct contact with the material being heated. Instead, heat is transferred through a medium such as steam, which is common in industrial processes.
The proposal, which targets activities not currently covered by the EU Emissions Trading System, aims to phase out fossil fuels by January 1, 2030.
"We wholeheartedly support this proposal. Industrial process heat consumes a quarter of the global energy supply, and currently it is overwhelmingly reliant on fossil fuels, making it a significant contributor to CO2 emissions. This needs to change, and we must start transitioning to renewables now,” says Camilla Nilsson, CEO of Kyoto Group.
The alternatives are here
Kyoto Group is especially encouraged by the Ministry’s recognition that viable alternatives to fossil fuels are already available and that the barrier to their adoption lies not in cost or technical feasibility, but rather in knowledge gaps and a lack of focus.
"This is music to our ears. The alternatives are here, and the path to implementation is clearer than ever. We hope the proposal is swiftly turned into regulation and that other countries take note," says Nilsson.
Kyoto Group has developed Heatcube, an innovative thermal energy storage solution that integrates both heat generation and storage. By storing energy from intermittent renewable energy sources, industrial customers can reduce both their process heat production costs and CO2 emissions, eliminating the need for fossil fuels. The first commercial Heatcube at Norbis Park in Denmark is already making an impact, cutting nearly 200 tons of CO2 emissions to date, while the second Heatcube installation at the Kall Ingredients corn processing plant in Hungary is nearing completion and is poised to achieve an impressive CO2 reduction of up to 8,000 tons annually.
Will reduce emissions
The ban is expected to reduce Norway’s CO2 emissions by 300,000 tonnes annually from 2030. The Ministre expects reductions to start before 2030 as companies gradually adapt to the coming ban.
The proposal contains exceptions for special circumstances, but these are strictly limited.
In addition to fossil fuels, the proposal limits the use of biofuels.
The proposal is here (in Norwegian): Høring av forslag til forskrift om forbud mot bruk av fossile brensler til indirekte fyring i industrien fra 2030 - miljodirektoratet.no
For further information, please contact:
Håvard Haukdal, CFO
+47 48 10 65 69
About Kyoto Group
Heat accounts for two thirds 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). www.kyotogroup.no
