Kyoto Group Welcomes Simen Valaamo as New CFO for Strategic Growth

Kyoto Group Welcomes Simen Valaamo as New CFO

Kyoto Group has officially appointed Simen Valaamo as its new Chief Financial Officer (CFO). The announcement, made on July 1, 2025, emphasizes the company's commitment to strengthen its leadership team as it tackles the urgent challenge of decarbonizing industrial heat.

Mr. Valaamo's extensive background in finance and business development, particularly within European energy markets, positions him as a key player in advancing Kyoto's mission. His previous experience includes notable roles within the energy and process industries, where he has showcased a strong competency in strategic financial management.

Morten Bülow, CEO of Kyoto Group, expressed his enthusiasm about the appointment, stating, "We are thrilled to welcome Simen into his new role as CFO and a key member of the leadership team. His expertise in energy markets and experience in developing our Heat as a Service (HaaS) model will be critical as we scale our operations to meet the increasing demand for decarbonized industrial heat across Europe."

Simen Valaamo succeeds Håvard Haukdal, who has successfully served as CFO since September 2022. While Mr. Haukdal made significant contributions to the company, including strategic investments and facilitating green financing, Mr. Valaamo’s transition marks a new chapter for the firm as surging interest in sustainable solutions unfolds.

Valaamo joined Kyoto Group in March 2022, initially taking on the role of Business Developer. He was promoted to Director of Market Intelligence in February 2024, wherein he played an instrumental part in propelling the company’s vision forward. His prior negotiation and leadership roles at StormGeo Nena and Alcoa add layers to his qualifications as CFO.

Reflecting on his new responsibilities, Valaamo expressed his eagerness to collaborate with the board, leadership team, employees, and partners. "I look forward to continuing to work with our board and our team to deliver on our strategic ambitions," he stated. "Having already been part of Kyoto Group for over three years, I'm excited to help drive our next phase of growth as we scale up Heatcube installations, strengthen customer partnerships, and lead sustainable industrial heat initiatives in Europe."

For context, Kyoto Group’s flagship product, Heatcube, is pivotal to the firm’s strategy. Designed to address the critical issue of industrial carbon emissions, which account for approximately 40% of global emissions primarily from fossil fuels, Heatcube offers a sustainable and cost-effective solution that captures and stores renewable energy for industrial heating applications. The company’s objective is to ensure a transition towards a greener future by empowering industries with renewable thermal energy.

Founded in 2016, Kyoto Group operates from its headquarters in Oslo, Norway, and has a branch in Seville, Spain, demonstrating its commitment to geographical expansion and innovative decarbonization solutions. The company remains supported by Glentra, a prominent Danish energy fund dedicated to fostering the green transition through innovative energy efficiency technologies.

As renewable energy continues to drive change in industrial practices, Kyoto Group is uniquely positioned to be at the forefront of this evolution, thanks to its steadfast commitment to innovation and sustainability through leaders like Mr. Valaamo.

For any inquiries, Morten Bülow, the CEO of Kyoto Group, can be reached at [email protected] or +34 634 208 432.

To learn more about Kyoto Group and its initiatives, visit Kyoto Group and follow us on our LinkedIn page.