Industrial heat accounts for 30% of global energy use, 90% of which is generated by fossil fuels. As Europe advances in renewable energy generation, industrial electrification lags behind due to the intermittent nature and cost volatility of renewables. Industry faces the challenge of decarbonizing their heat processes whilst ensuring efficiency, cost competitiveness and operational stability.

The transition to green energy is a critical challenge facing industries worldwide, particularly when it comes to securing stable, high-temperature heat. Today 90% of this heat is supplied by fossil fuels such as natural gas, representing €1.35T in fuel spend.

The intermittent nature of renewable energy sources results in fluctuating energy costs and availability creating uncertainty around adoption.

As the EU ramps up CO2 taxation and industries look to secure supply and shield themselves from energy market volatility, the demand for scalable and cost-effective green heat solutions has never been more urgent.

Turning volatility into value: Thermal storage as a pathway to competitive green heat

The challenge is not just replacing fossil fuels. The challenge is achieving this transition in a way that is both economically viable and operationally reliable.

The EU’s evolving energy market, with increasing instances of negative pricing during renewable energy surplus hours, presents a unique opportunity. By leveraging thermal storage, we can capture these low-cost periods and make renewable heat competitive with fossil-based alternatives. This approach offers significant potential, especially for industrial sites in energy-intensive sectors such as food processing and chemicals.

At Hyme Energy, we have developed a molten salt-based thermal storage technology that empowers energy-intensive industries with a low-risk, cost-stable solution for supplying green steam.

Flexible business models can fast-track green heat adoption

While thermal energy storage technologies hold considerable promise, several barriers hinder their widespread adoption. One key challenge is overcoming the reluctance of some companies to embrace new technologies. Established industries may have ingrained practices and be hesitant to deviate from them. Traditional CapEx-heavy investment models further deter companies from transitioning, as the financial burden of infrastructure upgrades can be significant.

With Hyme’s flexible Heat-as-a-Service offering, we address these concerns by reducing the need for upfront capital investments, reducing financial risk and making the transition to green energy more accessible and scalable.

Achieving a cleaner energy future requires collaborative efforts from various stakeholders. Companies, governments, and organizations must work together to accelerate the adoption of green solutions. By fostering greater collaboration, implementing supportive policies, and promoting the adoption of innovative technologies, we can move towards a future where industries can thrive while minimizing their environmental impact.