TheStorage, a cleantech company developing thermal energy storage solutions for industrial applications, has raised €3.6 million in a seed funding round led by Voima Ventures.
The round also included participation from existing investors Superhero Capital and 2C Ventures, alongside new investor Momentum. The company is focused on enabling industries to decarbonise heat production by storing and optimising energy use.
What The Company Does
TheStorage develops thermal energy storage systems that store energy in materials such as sand and release it as heat when needed. The technology is designed to help industrial operators electrify heat processes and reduce reliance on fossil fuels.
Its systems allow companies to store excess energy, including renewable electricity, and use it at optimal times based on operational demand and electricity pricing. This helps improve energy efficiency while reducing costs and emissions.
The solution is built to integrate into existing industrial processes without disrupting performance, enabling companies to transition to low-carbon heating without major infrastructure changes.
In addition to energy storage, the system enables participation in electricity markets, including grid balancing, by adjusting when energy is consumed or released.
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Market context / industry background
Industrial heat production remains one of the most emissions-intensive sectors globally, with a large share still dependent on fossil fuels. Decarbonising this segment is challenging due to the high energy requirements and the need for consistent, reliable heat supply.
At the same time, the increasing share of renewable energy in electricity systems introduces variability in supply, creating a need for storage solutions that can balance production and consumption.
Thermal energy storage is emerging as a practical approach to address both challenges, enabling industries to use renewable energy more effectively while stabilising energy costs and supporting grid flexibility.
Fluctuations in electricity and fossil fuel prices are further driving demand for systems that allow industrial users to optimise when and how they consume energy.
In parallel, many industrial processes operate continuously, making it difficult to align energy consumption with intermittent renewable generation. Thermal storage systems provide a buffer that allows excess energy to be stored during periods of high supply and used later when demand increases. This supports more efficient energy management without requiring major changes to existing industrial infrastructure. As regulatory pressure to reduce emissions intensifies, companies are also seeking solutions that can be integrated into current operations while contributing to long-term sustainability targets and improving overall energy resilience.
At the same time, financing and deployment models are evolving to support wider adoption, with increasing interest in energy-as-a-service structures that reduce upfront costs for industrial users. This is helping lower barriers to entry and enabling more companies to explore thermal storage as part of their decarbonisation strategies.
Founder commentary
Timo Siukkola, CEO and co-founder of TheStorage, said the funding marks an important step in bringing the company’s technology to market at scale.
He noted that demand for thermal energy storage is increasing across industrial sectors, as companies look for solutions that can help manage energy costs while meeting sustainability targets.
Growth plans / use of funds
The company plans to use the funding to accelerate commercialisation of its technology, expand its team, and continue product development.
TheStorage is focused on scaling its solution for broader industrial adoption, with the aim of deploying its systems internationally as demand grows for cost-effective decarbonisation technologies.
About TheStorage
TheStorage is a cleantech company developing thermal energy storage solutions for industrial applications. Its technology stores energy in materials such as sand and releases it as heat, enabling companies to replace fossil fuel-based heating with electricity-based systems. The platform helps industries reduce emissions, optimise energy use, and improve cost efficiency while supporting the transition to low-carbon industrial processes.
