The parties have successfully executed the Initial Operations Test (IOT) to demonstrate the operability of Heatcube and its capability to perform service as a heat storage system, absorbing power from the electrical grid, storing thermal energy in molten salt and delivering heat to the district heating system. The IOT has confirmed the integrated functionality of the flow heater, circulation of salt, heat-tracing, steam-generator, air system, salt draining system and all safety functionality, thus confirming that Heatcube is now operational.

"This achievement not only displays the effectiveness of our technology but also paves the way for a future where industrial process heat is sourced from clean renewable electricity, enabling the industry to finally decarbonize. The era of change is here, and we are proud to lead the charge towards a greener more prosperous future says Kyoto Group CEO Camilla Nilsson. I would like to express my sincere gratitude to our Chief Project Officer Agnieszka Sledz and her team for this professional and successful installation and commissioning of Heatcube and to Nordjyllandsværket for the extraordinary collaboration".

Upon handover according to the "Commercial Handover Protocol" that now has been signed, Nordjyllandsværket commercially takes over Heatcube meaning that the lease is activated and the leasing price payable in accordance with the terms of the leasing agreement.

Within the upcoming two months, the parties will fine-tune the operation of Heatcube together and Kyoto Group will provide comprehensive training for the staff at Nordjyllandsværket, enabling them to proficiently operate Heatcube and conduct the thorough performance test, ensuring its alignment with all design parameters.

[image]CAPTION: Completion of Norbis Park Heatcube

[image]CAPTION: Connection to the grid of Norbis Park Heatcube

[image]CAPTION: Commissioning of Norbis Park Heatcube