At the Breakthrough Energy Summit today, EU-Catalyst announced a significant €75 million investment aimed at advancing cutting-edge climate technologies through Rondo Energy’s innovative industrial decarbonization projects. This funding, supported by Breakthrough Energy Catalyst, the European Investment Bank (EIB), and the European Commission, marks a pivotal step towards enhancing sustainability across Europe.
Mario Fernandez, Head of Breakthrough Energy Catalyst, emphasized the importance of Rondo’s initiatives in reducing Europe’s reliance on natural gas. “Rondo’s projects are crucial as European manufacturers seek alternatives to traditional energy sources,” Fernandez explained. “We are proud to support these groundbreaking initiatives across Europe and collaborate with esteemed partners like Rondo, the EIB, and the European Commission, who share our commitment to advancing transformative climate technologies.”
Key Projects Driving Decarbonization
1. Decarbonizing Covestro’s Chemical Production
In Northern Germany, Rondo Energy will deploy an innovative RHB100 system to provide continuous steam powered by intermittent wind energy to Covestro, a global leader in specialty chemicals. This initiative aligns with Covestro’s sustainability goals, supporting their efforts in circularity and decarbonization.
2. Establishing a “Clean Utilities Core” at GreenLab’s Industrial Park
Located in Skive, Denmark, Rondo will install an additional RHB100 unit to generate high-pressure steam from renewable sources. This system will convert intermittent electricity into stable heat and power, serving multiple clients within GreenLab’s innovative green and circular industrial complex.
3. Decarbonizing Food & Beverage Production
Rondo’s third project involves integrating on-site and off-site solar energy solutions to achieve deep decarbonization for a prominent European food and beverage producer. Further details on this transformative endeavor will be announced soon.
Advancing Clean Energy Solutions
Each project strategically harnesses cost-effective intermittent energy from local and remote wind and solar resources. By delivering continuous, high-pressure, zero-carbon steam and power as a service, Rondo aims to make clean industrial heat and power more economically viable compared to conventional fuels.
Ann Mettler, VP of Breakthrough Energy Europe, underscored the strategic importance of reducing Europe’s dependency on imported gas through domestic renewable energy solutions. “Repurposing our industrial infrastructure is crucial for climate, economic, and national security,” Mettler emphasized. “These projects demonstrate our ability to achieve sustainable results with the right technology, vision, and financial support.”
Looking Forward
The funding from Breakthrough Energy Catalyst and its partners is poised to eliminate barriers associated with industrial heat electrification, facilitating scalable and cost-effective energy solutions globally. For more insights into Rondo’s innovative projects and Breakthrough Energy Catalyst’s collaborative efforts with the European Investment Bank and the European Commission, visit [link to more information].
This investment reaffirms Europe’s commitment to pioneering sustainable industrial practices and sets a benchmark for global climate resilience initiatives.
Photo source: Google
By: Montel Kamau
Serrari Financial Analyst
28th June, 2024
