Investment in Polar Night Energy

Jonathan Oppenheimer

Posted on

9 Apr


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Deal Value:

EUR 7.6 million

We advised lead investor Jonathan Oppenheimer in the EUR 7.6 million financing round in Polar Night Energy. The funds will be used for growth and accelerating towards power-to-heat-to-power readiness.

Polar Night Energy is a Finnish startup founded in 2018 that designs and manufactures high temperature thermal energy storages. The Sand Battery developed by the company enables a significant increase in wind and solar energy production while reducing the use of fossil fuels.

Recently, Polar Night Energy has achieved significant progress with the announcement of a new industrial-scale Sand Battery project with Loviisan Lämpö, a Finnish district heating company, in addition to a partnership with Ilmatar, a Nordic energy company and independent power producer (IPP), aimed at storing surplus wind and solar energy in large-scale Sand Batteries.

Jonathan Oppenheimer is a South African businessman, social impact investor, and conservationist. Other key participants in the round included Stephen Industries, Holdix, Turret and PC Rettig & Co. Impact.

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