EnergyNest
EnergyNest is a Norwegian thermal energy storage company commercializing ThermalBattery™, a modular concrete-based heat storage system for industrial process heat decarbonization. It serves energy-intensive European enterprises across chemicals, cement, steel, and food sectors via Heat-as-a-Service and EPC delivery models.
- Company typePrivate
- Founded2011
- HeadquartersAsker, Norway
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What EnergyNest does
EnergyNest AS is a Norwegian thermal energy storage company founded in 2011 and headquartered in Billingstad (Asker), Norway. The company develops and commercializes the ThermalBattery™, a modular concrete-based sensible heat storage system using embedded heat exchangers, delivered in standardized 20-foot ISO container modules. The technology stores energy as high-temperature heat (up to 390°C, 100+ bar) and releases it on demand to supply industrial process heat and steam, targeting energy-intensive industries including cement, chemicals, food and beverage, glass, pulp and paper, steel, and utilities.
The company generates revenue through three streams: Heat-as-a-Service (HaaS), a zero-CAPEX managed service where EnergyNest retains equipment ownership and supplies heat to customers on multi-year contracts; turnkey Engineering, Procurement and Construction (EPC) projects for customers who prefer full ownership; and Grid Flexibility Services that monetize thermal storage assets through balancing market participation. The go-to-market is enterprise field sales targeting industrial buyers with annual heat demand above 5 GWh and process temperatures between 120°C and 300°C, with sales supported by a website configurator for initial qualification. EnergyNest maintains wholly-owned subsidiaries in Germany (Hamburg), Netherlands (Rotterdam), and Spain (Seville and Madrid), and serves markets across Europe with plans for North America. Notable reference customers include Avery Dennison (Europe's largest CST and thermal storage installation at 2.7 GWh), YARA International, ENI, LEONHARD KURZ, TESA, and MASDAR.
EnergyNest firmographics
Firmographics- Name
- EnergyNest
- Legal name
- ENERGYNEST AS
- Website
- https://energy-nest.com
- Company type
- Private
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- EnergyNest is a Norwegian thermal energy storage company commercializing ThermalBattery™, a modular concrete-based heat storage system for industrial process heat decarbonization. It serves energy-intensive European enterprises across chemicals, cement, steel, and food sectors via Heat-as-a-Service and EPC delivery models.
- Ownership category
- akta.pro rank
EnergyNest industry classification
Industry- Product category
- Industrial Thermal Energy Storage
- NAICS
- Power Boiler and Heat Exchanger Manufacturing (33241), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414)
- SIC
- Heating Equipment, Except Electric & Warm Air Furnaces (3433)
- akta.pro primary industry
- High-Temperature Solid Media Storage (Bricks, Concrete, Ceramic) (EUAFANAF)
- akta.pro secondary industries
- Thermal LDES (High-Temperature, Molten Salt, Carnot/Heat-to-Power) (EUAFADAC), Industrial Process Heat TES (Steam, Kilns, Furnaces, Waste-Heat Coupling) (EUAFANAI)
Keywords
Where EnergyNest is headquartered
LocationHeadquarters
- HQ city
- Asker
- HQ country
- Norway
- HQ region
- Europe
Offices5 records
Markets served
EnergyNest business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Technology or R&D, Operations, Personnel, Marketing or Sales
Revenue model
- Heat-as-a-Service (HaaS): Zero upfront capital expenditure model where EnergyNest retains ownership of the thermal storage infrastructure and provides heat to customers as a service. Customers pay for heat delivered without making capital investment in equipment.
- Turnkey EPC Projects: Engineering, procurement and construction contracts where EnergyNest designs, procures, and builds the complete power-to-heat and thermal storage system for customers who prefer full ownership.
- Grid Flexibility Services: Additional income streams through participation in grid flexibility and balancing markets using thermal storage assets to provide demand response capabilities.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Heat-as-a-Service (Zero CAPEX) |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
EnergyNest product offering
Product offeringCore offering
EnergyNest designs, manufactures, and delivers modular thermal energy storage systems based on its patented ThermalBattery™ technology, which stores energy as high-temperature heat in concrete blocks with embedded heat exchangers and releases it on demand as industrial process heat or steam. The company pairs the storage units with power-to-heat electric heaters and continuous energy-market optimization, delivering complete industrial heat systems to energy-intensive manufacturers via Heat-as-a-Service contracts or turnkey EPC projects.
Product overview
EnergyNest offers a unified portfolio centered on its patented ThermalBattery™ technology, a modular sensible heat storage system that stores energy as high-temperature heat in concrete using embedded heat exchangers. The core product is complemented by Power-to-Heat Solutions that convert excess or low-cost electricity into heat for industrial processes. Customers can access these offerings through two delivery models: Heat-as-a-Service (HaaS) for zero-CAPEX access, or turnkey EPC projects for full ownership. The solutions target energy-intensive industries including cement, chemicals, food & beverage, glass, pulp & paper, steel, and utilities, providing process heat and steam from 120°C to beyond 300°C.
Differentiator
Problem solved
Functional benefit
Products and services
- ThermalBattery™ Modular thermal energy storage system that stores electricity as heat in concrete blocks with embedded heat exchangers and releases it on demand as industrial process heat or steam from approximately 120°C to beyond 300°C.
- Power-to-Heat Solutions Electric-heater systems that convert electricity into heat only when electricity prices fall below gas prices, combined with thermal storage to deliver heat on demand for industrial customers.
- Heat-as-a-Service (HaaS) Zero-CAPEX service in which EnergyNest installs and owns the thermal storage system and sells delivered heat to the customer under a multi-year contract.
- EPC (Engineering, Procurement & Construction) Project Delivery Turnkey engineering, procurement, and construction delivery of complete power-to-heat and thermal storage systems for customers who prefer full ownership of the installed infrastructure.
Quantifiable outcome
- 30-70% electrification of industrial heat demand achievable per customer
- +4 more outcomes
Companies that use EnergyNest
Customer profileNamed customers6 records
Segments9 records
Ideal customer profiles2 records
EnergyNest technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature8 records
EnergyNest partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- European Industrial Partner NetworkcoreEnergyNest works with a network of established European industrial partners to deliver large-scale, reliable heat infrastructure. The collaboration model ensures seamless integration into existing production environments with clear accountability, proven execution processes, and predictable results.
Scale indicators9 records
Recent moves6 records
Expansion highlights5 records
EnergyNest competitors and assessment
Company assessmentDirect peers
- Electrified Thermal Solutions (ETS): U.S.-based startup commercializing Joule Hive thermal batteries (resistive-heated firebrick) for industrial process heat decarbonization up to ~1800°C. Direct competitor in the solid-media industrial heat battery category with a similar sales-led, hard-to-abate-industry focus.
- Rondo Energy: U.S.-based developer of an industrial heat battery using solid media, targeting decarbonization of process heat at 150°C+. Direct overlap with EnergyNest on use cases (chemicals, food, refining) and on offering both ownership and energy-as-a-service commercial models.
- Antora Energy: U.S. company building solid-state thermal storage and thermophotovoltaic conversion to deliver zero-carbon industrial heat and power. Direct competitor in the industrial heat decarbonization segment with overlapping target customers and a similar zero-CAPEX service offering.
- Kraftblock: German developer of modular thermal storage using recycled steel slag as the storage medium, with deployments in industrial process heat and district energy. Direct European peer with similar modular form factor, temperature range, and industrial customer profile.
- Brenmiller Energy: Israel-based thermal energy storage company selling the b'ThermEnergy crushed-rock storage system to industrial customers for process heat up to ~500°C. Closely comparable technology category (solid-media TES) and customer base (cement, chemicals, food, refining).
- Malta Inc. U.S. company developing pumped-heat/thermo-mechanical energy storage for long-duration storage and industrial heat decarbonization. Comparable as a long-duration storage provider targeting utility and industrial buyers, even though the storage medium differs from concrete.
- 1414 Degrees: Australia-based developer of molten-salt thermal energy storage (TESS) for industrial process heat and grid-scale applications. Competes in the same industrial heat decarbonization segment with an alternative solid/liquid storage chemistry.
Emerging players
- Highview Power: U.K.-based developer of liquid air (cryogenic) long-duration energy storage, with planned industrial applications. Adjacent long-duration storage player serving utilities and large industrials; not a direct storage-medium peer but competes for the same decarbonization capital.
Broad incumbents
- ABB: Global industrial technology provider offering electrification, process automation, and industrial heat solutions. Broad incumbent with channel access to the same energy-intensive industrial customers EnergyNest targets.
- Siemens Energy: Global OEM of industrial power, electrification, and heat solutions including industrial steam and heat decarbonization offerings. Broad incumbent in EnergyNest's target customer base, with the scale and balance sheet to bundle thermal storage into larger electrification projects.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
EnergyNest social profiles
Digital presenceEnergyNest compliance and trust
Trust signalCompliance1 record
EnergyNest financial estimates
Financial estimateRevenue estimate
Valuation estimate
EnergyNest leadership team
Management profileNumber of profiles
Profiles4 records
EnergyNest subsidiaries and ownership
Company hierarchySubsidiaries3 records
EnergyNest funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
EnergyNest M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about EnergyNest
What does EnergyNest do?
EnergyNest designs, manufactures, and delivers modular thermal energy storage systems based on its patented ThermalBattery™ technology, which stores energy as high-temperature heat in concrete blocks with embedded heat exchangers and releases it on demand as industrial process heat or steam. The company pairs the storage units with power-to-heat electric heaters and continuous energy-market optimization, delivering complete industrial heat systems to energy-intensive manufacturers via Heat-as-a-Service contracts or turnkey EPC projects.
Is EnergyNest a public or private company?
EnergyNest is a private company. It is classified as management employee owned and is currently operating.
When was EnergyNest founded?
EnergyNest was founded in 2011. It employs 11 to 50 people.
Where is EnergyNest based?
EnergyNest is headquartered in Asker, Norway, in the Europe region.
How does EnergyNest make money?
Three revenue lines are on record. Heat-as-a-Service (HaaS) is the primary driver. The others are turnkey EPC Projects and grid Flexibility Services.
Who are EnergyNest's main competitors?
Direct peers on record are Electrified Thermal Solutions (ETS), Rondo Energy, Antora Energy, Kraftblock, Brenmiller Energy, Malta Inc. and 1414 Degrees. Highview Power is listed as an emerging player. Broad incumbents are ABB and Siemens Energy.
Does EnergyNest have an API?
No public API is recorded for EnergyNest.
What industry is EnergyNest in?
EnergyNest's product category is Industrial Thermal Energy Storage. Its primary akta.pro industry code is EUAFANAF, High-Temperature Solid Media Storage (Bricks, Concrete, Ceramic), with a secondary code of EUAFADAC, Thermal LDES (High-Temperature, Molten Salt, Carnot/Heat-to-Power). Its NAICS code is 33241 and its SIC code is 3433.