Hyme x Innovayt // EIC Accelerator
Hyme stands at the forefront of renewable energy solutions, accelerating the shift towards a fossil-free energy future by deploying innovative thermal energy storage solutions, and leveraging cutting-edge technology to address pressing challenges in heat and power generation.
Recognising the imperative to overcome limitations in existing storage technologies, Hyme’s thermal energy storage solution harnesses the power of high-temperature heat stored in molten salt to store electricity. With deep roots in the renowned Concentrated Solar Power (CSP) industry, molten salt energy storage stands out, boasting maturity and safety honed over decades of deployment.
Hyme’s primary breakthrough lies in the use of sodium hydroxide as a storage medium. The enhanced thermophysical properties and higher chemical stability at elevated temperatures of sodium hydroxide allow for decreased costs and footprint requirements in molten salt storage, together with a significant reduction of critical materials. Hyme’s solution offers a cost-effective, flexible (with high charging/discharging efficiency), and scalable approach to decarbonizing EIIs and CHP utility plants, addressing the challenges of intermittent renewable power. The unique focus on utilising less toxic, and sustainable molten salt and pioneering corrosion-limiting technologies, gives Hyme the potential to redefine industry standards.
Backed by a highly diverse and skilled team committed to innovation, Hyme is not only challenging existing energy storage paradigms but also leading the change towards sustainable energy accessibility.
In collaboration with Innovayt, Hyme recently secured significant funding from the EIC Accelerator (EICA). Hyme was awarded a grant of €2.5 million and an equity investment of €15 million, a testament to the EU‘s confidence in Hyme’s thermal energy storage solution and its potential to redefine energy storage and consumption. This pivotal support enables the advancement of Hyme’s technology to greater technological readiness and facilitates its validation and demonstration in real-world settings. The project stands on the shoulders of Hyme’s achievements to date and will incorporate the learnings from Hyme’s tech development and industrial pilot plant in Esbjerg (Denmark). A key part of the next steps in the journey is the next small commercial-scale demonstration plant in Denmark, which represents Hyme’s first grid-connected system operating on commercial terms. This project, set to retrofit a CHP utility plant with Hyme’s energy storage technology to deliver high-temperature steam, aims to validate all components, systems, and control software in a live operational and commercial environment.
On behalf of Hyme, Innovayt coordinated and prepared this grant application, as well as provided support in the interview preparation phase and in the contract negotiation process. By supporting Europe’s most promising and innovative concepts, EICA seeks to foster innovation, stimulate economic development, and tackle societal issues.
This funding will allow us to fully mature our molten salt thermal energy storage technology and to continue building our organisation so we can fully unlock the commercial pipeline we have already created. We are thankful and proud of the team that worked hard for months to obtain the funding.
– Ask Emil Løvschall-Jensen, CEO at Hyme.