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Kyoto: acquires Mercury Energy in Spain

  • Sector: Infrastructure
  • Date: March 24, 2022

  • Company: Kyoto utvikler en innovativ conteinerbasert løsning for termisk energilagring, for å generere damp etter behov i industrielle prosesser.

Kyoto announces the acquisition of Mercury Energy S.L. from Andrés Barros Borrero. Mercury Energy will become a subsidiary of Kyoto and a new business unit named Kyoto Technology Spain. The share purchase agreement with Andrés Barros Borrero was signed on 23 March 2022 and Kyoto expects that the transaction will be completed during April or May 2022.

The acquisition will significantly strengthen Kyoto’s molten salt capabilities and development capacity, and expand the company’s geographic footprint close to its key markets in Europe, to be able to serve the increasing demand for thermal energy storage in Europe. By acquiring Mercury Energy we are able to grow our team of skilled engineers with in-depth knowledge about thermal storage, molten salt and steam-generation, together with significant molten salt IPR, says Bjarke Buchbjerg, CTO at Kyoto.

Mercury Energy is a great strategic fit for us at Kyoto, adding to our growing capacity and bringing the key capabilities we need to rapidly scale our business and accelerate the commercial rollout of Heatcubes across Europe, says Camilla Nilsson, CFO and Interim CEO at Kyoto. Their extensive competence on thermal energy storage in molten salt as well as steam-generation enables us to deliver modular and scalable solutions to some of the most interesting industrial customers in Europe, Nilsson concludes.