Investment in the millions for market entry
30.04.2024 ⅼ Hasle b. Burgdorf
Green-Y Energy AG completes multi-million investment to realize the market entry of the compressed air energy storage system in 2025.
Multi-million investment in compressed air energy storage for buildings and industry
Green-Y Energy AG, based in Hasle near Burgdorf in Switzerland, has completed a further investment round of three million Swiss francs. The capital will be used to drive forward market entry with a new type of compressed air energy storage system for buildings and industry, which Green-Y has developed and produces. Using compressed air, it not only stores electricity, but also supplies buildings and processes with heating and cooling at the same time. This makes the technology particularly sustainable compared to conventional battery systems. The investment round was concluded with the renowned Swiss Kapital Global Impact Fund AG, the greentech investment vehicle of entrepreneur Umut Ertan.
Pilot system in practical use – market launch next year
After a development phase of four years, Green-Y successfully realized a pilot plant with a total capacity of 100 kWh in 2023. The system stores PV electricity from a commercial site and is used to optimize self-consumption. In residential and office buildings, it can also support space heating, hot water heating and cooling. In industrial companies, the heat and cold generated can be used in production processes.
“The additional capital gives us the opportunity to further optimize our storage technology and drive forward the marketing of the systems,” says Rafik Barhoumi, CEO of Green-Y Energy AG. “We thank all investors for their trust!”
Umut Ertan, founder of Schweizer Kapital Global Impact Fund AG and lead investor: “I am enthusiastic about the technology and the team. Based on my experience in the real estate industry, I am convinced that we can use this technology to solve one of the major challenges of the future, the issue of energy storage, in a particularly environmentally friendly way.”
Expert confirms sustainability of compressed air storage systems
Green-Y’s compressed air storage units do not use critical raw materials, have a long service life of 20 years and are particularly efficient thanks to the integrated generation of heat and cold.
When the accumulator is charged, air is compressed using electricity and stored in compressed air cylinders at up to 300 bar. Compression generates heat of up to 60°C, which can be used for heating buildings, hot water or as process heat.
When the storage tank is discharged, the air from the storage cylinders is expanded and a generator produces electricity. During expansion, the temperature drops to up to 3°C. The resulting cold can be used for room cooling, server cooling or as process cooling.
Storage technology expert Christian Ochsenbein, Head of the Swiss Battery Technology Center, confirms the advantages of multiple use: “Green-Y’s compressed air energy storage system makes economic and ecological sense if the storage of electrical energy is combined with the use of heat or cold. This is why compressed air storage systems are particularly suitable for neighborhoods, larger office buildings and industry.”
About Schweizer Kapital Global Impact Fund AG
Schweizer Kapital Global Impact Fund AG was founded in 2018 by entrepreneur Umut Ertan to support start-ups with sustainability-related and scalable business models through impact investing. The Zurich-based Schweizer Kapital Global Impact Fund AG supports companies with a range of needs-based financing options from venture capital to private equity. In addition to environmental technology, the focus is on the logistics/real estate, mobility/automotive, health/food and FinTech sectors. The long-term goal is to become one of the leading European impact investors with an international impact.
Further information: schweizer-kapital.ch
Press contact
Kathrina Weiss
k.weiss@schweizer-kapital.com
About Green-Y Energy AG
Green-Y Energy AG, based in Hasle near Burgdorf in Switzerland, develops and produces innovative compressed air energy storage systems (CAES) for buildings and industry. The nine-strong team at the company, which was founded in 2020, contributes to the energy transition with sustainable energy solutions. It is supported by investors and as part of funding and research projects together with leading Swiss universities. The compressed air energy storage system developed by Green-Y stores electricity and also generates heat and cold. This makes it suitable for use in residential areas, office and commercial buildings as well as in industry.
Further information: green-y.ch
Press contact:
Peter Fritzen
press@green-y.ch
