Newton Energy Solutions, a Delft-based company specializing in thermal storage systems, has raised €2.5 million from Fair Capital Impact Fund and existing investors, including Carteman Ventures, TNO, and König Metall Group. This funding will accelerate the market introduction of their innovative energy storage system, NEStore.
The company aims to deploy NEStore in large residential and utility buildings with significant peaks in hot water consumption, such as sports clubs and hotels. This solution is designed to address the growing challenges of electricity grid congestion and increased demand, enhancing grid resilience and flexibility.
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About NEStore
Founded by Pavol Bodis, Martin Mohana, and Laurens van Vliet, Newton Energy Solutions has developed NEStore, a thermal storage solution also known as a heat battery. CEO Pavol Bodis describes NEStore as “a smart energy solution with the potential to transform how we use energy.” The system can store 20-30 kWh of thermal energy, suitable for typical households, and can replace or complement existing gas boilers, especially in homes with solar panels.
Integration with Heat Pumps
NEStore can switch to a gas boiler when sustainable energy is insufficient and integrates effectively with heat pumps due to its large storage capacity and the heat pump’s high coefficient of performance (COP).
Investor Confidence
Fair Capital Impact Fund, focused on sustainable investments, sees NEStore as a vital innovation for making natural gas obsolete. Michelle de Rijk, Impact Investor at Fair Capital Impact Fund, states, “NEStore provides compact energy storage with minimal heat loss, functioning like a battery, and sustainably heats water in commercial buildings and homes.”
Stefan Wolff from König Metall Group adds, “With the 2030 Agenda, we aim to revolutionize energy storage possibilities and support a CO2-neutral future.”
Future Outlook For Newton Energy Solutions
With this significant investment, Newton Energy Solutions is poised to enhance its contributions to the energy transition, providing sustainable and efficient thermal storage solutions that support a stable and resilient electricity grid.
