#United States #Richardson #Skyven Technologies #Kyotherm #Arcturus Heat Pump

Skyven Technologies and Kyotherm Join Forces

In a significant move towards sustainable industry practices, Skyven Technologies has announced a $70 million co-development and project finance agreement with Kyotherm. This partnership aims to fast-track the implementation of their innovative steam-generating heat pump technology, aptly named Arcturus, which is designed to facilitate the decarbonization of hard-to-abate sectors in the United States.

The Vision for Industrial Decarbonization

Skyven Technologies, known for pioneering emissions-free industrial steam, is on a mission to transform how industries waste energy. The Arcturus technology exemplifies this vision, utilizing innovative heat pump solutions to reclaim waste heat and produce steam without carbon emissions. With the recent $145 million funding awarded from the Department of Energy’s Office of Clean Energy Demonstrations, the momentum for Skyven’s initiatives is on the rise.

Arun Gupta, the Founder and CEO of Skyven, emphasizes the importance of this infusion of capital, stating, "This capital helps fund our Energy-as-a-Service offering, allowing us to deploy Arcturus at industrial manufacturing facilities, saving them money and cutting their emissions with no capital expense required." This reflects not only a commitment to innovation but also to the financial accessibility of sustainable solutions for industries across the board.

Structured For Success

The agreement between Skyven and Kyotherm operates on a milestone-based structure that blends project debt and equity, ensuring that Skyven maintains majority control over the venture. This allows Skyven to integrate all necessary funding phases effectively, beginning with development capital for initial design and planning all the way through construction funding for on-site Arcturus installations.

Kyotherm, recognized as a prominent financier in renewable thermal energy projects, acts as a crucial partner in providing capital for these upcoming ventures. Gupta highlights Kyotherm’s role in supporting customers achieve their decarbonization goals while minimizing risk and enhancing success. The collaborative effort is expected to yield immediate and long-term benefits for both the environment and the economy.

Impact on Communities and Workforce

A notable aspect of this partnership is its potential to enhance air quality in local communities by drastically reducing industrial emissions. As part of their commitment, Skyven and Kyotherm plan to create jobs across the United States and develop workforce training programs tailored to equip the manufacturing sector with the necessary skills for a decarbonized future.

Arnaud Susplugas, CEO of Kyotherm, expressed his enthusiasm, saying, "We are proud to partner with Skyven Technologies again, and we see a lot of potential in the deployment of high temperature industrial heat pumps such as Arcturus. This relationship aligns with our commitment to finance with an optimized cost of capital scalable solutions that address the urgent challenge of industrial decarbonization."

The existing partnership between Skyven Technologies and Kyotherm has proven fruitful, resulting in six successful decarbonization projects at California Dairies, Inc., which collectively reduced over 7,000 metric tons of CO2 emissions annually with no upfront capital from the client. This ongoing collaboration highlights both companies’ dedication to creating sustainable business practices while fostering meaningful economic opportunities.

About Skyven Technologies

Skyven Technologies specializes in developing technologies that reduce carbon footprints among industries that find it challenging to de-carbonize. Their flagship Arcturus steam-generating heat pump offers a competitive edge in producing emissions-free steam efficiently and economically.

Through an Energy-as-a-Service model, they enable manufacturers to achieve significant emissions reductions while avoiding large upfront investments, making sustainable transformation not only feasible but profitable.

About Kyotherm

Kyotherm focuses on co-developing and financing renewable thermal projects alongside end-users and solution providers. Their Energy-as-a-Service strategy offers a zero upfront capital expenditure approach, catering to organizations aiming to lower their carbon emissions without the burden of initial costs. Since its inception in 2011, Kyotherm has financed 63 projects across 12 countries, boasting an impressive installed capacity of 270 MW.

For more details about Skyven Technologies, you can visit their website at www.skyven.co.