Arteche enters the energy storage business with its strategic entry into Teraloop through Arteche Ventures
Arteche enters the energy storage business with its strategic entry into Teraloop through Arteche Ventures
Arteche obtains the exclusive distribution of this technology under the name “Arteche powered by Teraloop” in the main countries where the Power Quality business operates
Among the most relevant aspects of the agreement is a permanent seat for Arteche on the Board of Directors, thus reinforcing Teraloop's current and future R&D projects
Through this purchase of shares, Arteche formalizes its first operation from Arteche Ventures, a company of the Group that focuses its investment capabilities on the acquisition of new technological capabilities and innovation developments
Mungia (Bizkaia), September 6th 2024.- Arteche, a global leader in power measurement and monitoring solutions, has taken a significant step forward in its innovation and sustainability strategy with its entry into Teraloop, a leading company in energy storage technology. This transaction not only expands Arteche's portfolio in the Grid Reliability business line, but also introduces the company to the emerging energy storage market.
Teraloop's technology, characterized by its bushingless rotor configuration and the use of recycled and recyclable materials, is a versatile solution with multiple applications in grid stabilization and renewable energy integration.
These flywheels will be commercialized under the name “Arteche powered by Teraloop” in the first months of 2025 as stand-alone equipment or as part of Arteche's capacitor banks, increasing their lifetime by more than 20%.
"With this alliance, Arteche not only reinforces its commitment to power quality and reliability, but also positions itself at the forefront of energy storage, an essential field for the future of electrical infrastructure", states Óscar Fernández de Retana, Chief Technology Officer (CTO) of Arteche.
Antonio Capristo, Chief Executive Officer (CEO) of Teraloop, said: "This strategic alliance with Arteche represents a key milestone in our expansion and consolidation in the European and international market. Having the backing of a global leader like Arteche not only consolidates our innovative technology, but also enables us to accelerate our ability to bring cutting-edge solutions to a wider range of customers.”
Teraloop's synthetic inertia technology is integrated at key points in the energy chain, from generation, transmission and distribution to consumption, offering fundamental solutions in renewable energy integration and grid stabilization or even fast vehicle charging, among others, as its main applications include improving energy efficiency through regenerative energy processes. These processes, among other things, mitigate voltage drops and stabilize energy flows in situations of high demand or power outages.
A commitment to innovation and sustainability
Teraloop's “flywheels” have a useful life of more than 25 years and their composition of recycled and recyclable mechanical materials means that their product footprint is smaller than other technologies in this market segment. In addition, 99% of its materials can be sourced from European suppliers and almost all of them are recoverable with existing processes.
About Teraloop
Teraloop is an innovative company dedicated to the development of advanced energy storage solutions. Founded with a vision to revolutionize the management and storage of electrical energy, Teraloop combines cutting-edge technologies with sustainable engineering principles to deliver efficient, safe and environmentally friendly storage systems.
The company's mission is to contribute to the global energy transition by creating solutions that improve the stability and efficiency of power grids, specializing in the development of kinetic energy storage systems. This technology promises to be key in the integration of renewable energy sources, such as solar and wind, into power grids around the world.
With a strong focus on research and development, Teraloop is committed to continuous innovation to deliver products that not only meet today's energy needs, but also anticipate the challenges of the future. The company, headquartered in Helsinki, Finland, collaborates with a global network of strategic partners to bring its solutions to key markets in Europe, the Americas and Asia.