Electrified Thermal Solutions Secures $19M to Revolutionize Industrial Heat with Joule Hive Thermal Battery

SUMMARY

• Electrified Thermal Solutions raised $19 million to advance its Joule Hive Thermal Battery (JHTB) system.
• The JHTB system is the first of its kind, capable of producing ultra-high temperatures (up to 1,800°C / 3,275°F) for industrial heat processes, powered by renewable electricity.
• The technology is designed to decarbonize energy-intensive sectors such as mining, metals, cement, chemicals and food processing, replacing fossil fuels with cost-effective, clean alternatives.
• The system addresses a $100 billion industrial heat market and supports global net-zero goals.

Electrified Thermal Solutions Secures $19M to Revolutionize Industrial Heat with Joule Hive Thermal Battery

Electrified Thermal Solutions, a Boston-based innovator in electrified heating and thermal energy storage, has secured $19 million in funding to accelerate the commercialization of its Joule Hive Thermal Battery (JHTB) system. This cutting-edge technology, developed at MIT, represents a transformative solution for decarbonizing industrial heat processes, which account for over 20% of global greenhouse gas emissions.

The funding round was led by a consortium of strategic investors including, Holcim MAQER Ventures, Vale Ventures, TechEnergy Ventures, EDP Ventures, Tupras Ventures Financial investor GVP Climate, Follow-on support from Clean Energy, Ventures and Starlight Ventures, Additional participation from Mass Ventures and Clean Energy Venture Group further underscores the broad-based confidence in Electrified Thermal's innovative approach.

Joule Hive Thermal Battery: A Revolutionary Technology

At the core of the Electrified Thermal is its patented Joule Hive Thermal Battery (JHTB), designed to store and deliver renewable electricity as near-flame temperature, zero-carbon heat at up to 1,800°C / 3,275°F. Among other important benefits, it has three:

• Energy efficiency: Produces ultrahigh-temperature heat for use in industrial processes.

• Economic viability: A clean, efficient alternative to fossil fuels.

• Integration: Compatible with existing infrastructure.

This breakthrough technology opens doors to decarbonization for industries that have traditionally been energy-intensive, including mining, metals, cement, and chemicals, which have struggled to develop cost-effective solutions to reduce reliance on fossil fuels.

Industry Impact and Market Opportunity

This JHTB technology deals with a long-standing challenge in global decarbonization: industrial heat processes. This makes up 85% of the emissions within energy-intensive industries and thus takes up a great portion of greenhouse gas emissions around the globe. By unlocking clean, scalable, and affordable solutions, Electrified Thermal is unlocking a $100 billion market opportunity.

 

Global Partnerships and Decarbonization Goals

Electrified Thermal's technology has been of interest to global industrial leaders:

• Vale Ventures believes there is an opportunity to reduce scope 1 and scope 3 emissions while decarbonizing all processes along the mining value chain.

• EDP Ventures views the JHTB as an industrializer and believes that the core of the mission to drive energy transition lies in this business.

• GVP Climate makes the JHTB technology scalable and economically viable in a manner necessary for industrial acceptance.

Future Outlook!

Electrified Thermal expects to hit several targets before the decade is over:

• Launch its first commercial demonstration of the JHTB system by 2025.

• Begin full commercialization of the technology by 2026.

• Deploy 2GWs of thermal power capacity, helping industries worldwide transition to net-zero emissions by 2030.

About Electrified Thermal Solutions

Electrified Thermal Solutions is a leader in the innovation of zero-carbon industrial heat. Its Joule Hive Thermal Battery (JHTB) is poised to revolutionize industrial heat processes with ultra-high-temperature performance, cost savings, and environmental benefits. The Boston-based company is committed to enabling the global transition to decarbonized industrial processes, working with industries foundational to the modern economy.

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