German multinational König Metall has taken a strategic stake in Caldera, a UK firm set to transform the domestic low carbon heat market.
Caldera has developed and patented a unique technology – the Warmstone heat battery – which stores off-peak, green electricity as heat, for use by households whenever required. With millions of homes not connected to the national gas grid and millions more poorly insulated, heat batteries will play an essential role in helping countries meet their net zero carbon commitments.
König Metall is already working closely with Caldera, and the German firm’s assisted vacuum insulation is a critical component of the Warmstone heat battery.
Nina Zwiebelhofer, owner and managing director of the König Metall Group said:
“Our mission is to become a leader in renewable and sustainable technologies. Our investment in Caldera is an important strategic move for the group. The opportunities are considerable, and we have already identified new, additional areas of interest. We are excited to be shareholders in Caldera and look forward to supporting their vision to help decarbonise home heating.”
Hans-Jörg Leuze, Executive Board Member of the König Metall Group said:
“We have spent many years reviewing thermal storage technologies and we have been hugely impressed with what the team at Caldera has achieved.The Warmstone heat battery is a simple, innovative technology and a game changing step forward.”
James Macnaghten, CEO of Caldera said:
“We are delighted to have König Metall on board as a strategic investor. Its strong manufacturing base in Europe and proven track record in large volume manufacturing will be vital as we scale-up and press on with our European growth plans.
“Our Warmstone heat batteries address the many millions of hard to heat homes across the UK and Europe by efficiently storing off-peak, renewable electricity as heat and then supplying it on demand to the homeowner. The unit is a direct replacement for an oil or gas boiler and connects directly into the existing plumbing system and radiators with minimal fuss.
“This investment is the first step towards what we hope will become a close long-term working partnership with König Metall.”