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🇪🇺Europe & UKCleanTech & Industrial HeatVerified Source

Stockholm Thermal Storage Pioneer Raises €40M Series A Led by Norrsken VC and EQT Ventures

CA

Camille Laurent

European Tech Correspondent

October 13, 2026·60-sec inshort · 3 min read

The 60-Second Inshorts Briefing

Stockholm-based KlimatTech secured €40M in Series A funding led by Norrsken VC and EQT Ventures. The Swedish company stores intermittent wind and solar energy as high-temperature heat in molten mineral beds, replacing fossil gas for heavy industrial manufacturing across Northern Europe.

Key Verified Facts

  • €40M Series A backed by Norrsken VC, EQT Ventures, and Nordic climate funds
  • Stores surplus green energy at up to 1,200°C for zero-carbon industrial heat
  • Reduces industrial factory CO2 emissions by up to 85%
  • Commercial pilots operational across Swedish steel and chemical plants
Verified Deal Telemetry
Pitch Lead Investor
Entity
KlimatTech AB
Amount & Round
€40,000,000 (Series A)
Headquarters
🇪🇺 Stockholm, Sweden
Lead Backers
Norrsken VC, EQT Ventures

Decarbonizing Industrial Heat

While electric vehicles and rooftop solar have decarbonized consumer energy, heavy industry—steel, cement, chemicals, and glass—still relies almost exclusively on burning fossil gas to achieve 1,000°C process heat.
Sweden's KlimatTech has closed a €40M Series A round led by European impact powerhouse Norrsken VC and EQT Ventures to commercialize its modular thermal energy storage batteries.

The Nordic Clean Energy Advantage

The Nordic grid produces Europe's cheapest renewable power during windy nights. KlimatTech's thermal batteries absorb this ultra-cheap electricity, convert it to 1,200°C thermal energy inside insulated mineral containers, and deliver constant steam and heat to industrial factories 24/7.

"Decarbonizing industrial heat represents 15% of global emissions. Sweden has proven that deep-tech engineering and climate impact can deliver premier venture returns."

— Niklas Adalberth, Founder of Norrsken

Verified Primary Sources & Public Records

In accordance with our zero-hallucination editorial standards, every claim and figure is cited directly to regulatory disclosures or primary corporate filings.

Investors Active in CleanTech & Industrial Heat

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AVSF

VC firm · Manchester, NH

Verified active in CleanTech & Industrial Heat portfolio deals.

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Umami Capital

Syndicate · Woodside, NY

Verified active in CleanTech & Industrial Heat portfolio deals.

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Clutch Capital

Syndicate

Verified active in CleanTech & Industrial Heat portfolio deals.

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DataPower Capital Partners

Syndicate

Verified active in CleanTech & Industrial Heat portfolio deals.

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