Teraloop access to new frontiers through strategic partnership with Arteche
Press release: 06/09/2024
Helsinki, Finland, 6th September, 2024
– Teraloop Oy, a pioneering Finnish company specialising in a new generation of flywheel-based power management and energy storage solutions, is pleased to announce a strategic investment from Arteche, a global leader in electrical energy measurement and monitoring solutions based in Bilbao, Spain. This partnership, formalised through Arteche Ventures, marks a significant milestone for Teraloop towards its expansion into the rapidly growing energy storage market and reinforcing its position as a key innovator in the field.
Teraloop’s cutting-edge flywheel technology, characterised by its unique hub-less rotor design and use of abundant, recyclable materials, offers a versatile and sustainable solution for network stabilisation and the integration of renewable energies. This collaboration with Arteche validates Teraloop’s technological advancements and paves the way for broader market adoption across key regions, including Spain, Australia, and Mexico.
The Teraloop solution can play a supportive role in frequency stabilisation for transmission system operators (TSOs) and will help industries operating critical processes to both reduce costs associated with peak power usage and to increase utilisation in demanding power services. Teraloop’s installations, in particular for a plastic moulding company in Italy and a dairy processing plant on Terceira island, are to demonstrate the wider potential of the company’s solution.
A pivotal aspect of this collaboration is Arteche’s permanent position on Teraloop’s Board of Directors, ensuring ongoing strategic alignment and fostering deeper integration of both companies’ strengths.
"This strategic alliance with Arteche represents a key milestone in our expansion and consolidation in the European and international markets. Having the support of a global leader like Arteche consolidates our innovative technology and will accelerate our ability to bring cutting-edge solutions to a greater number of customers," stated Antonio Capristo, Chief Executive Officer of Teraloop.
Affari Italiani press release
Óscar Fernández de Retana, Chief Technology Officer of Arteche, commented on the partnership, saying, "With this alliance, Arteche not only reinforces its commitment to energy quality and reliability but also positions itself at the forefront of energy storage, an essential field for the future of electrical infrastructures."
Arteche press releaseTeraloop’s flywheel technology represents a groundbreaking innovation in the energy sector, offering power management and synthetic inertia that enhances grid stability across various points in the energy chain, from generation to consumption. By improving energy efficiency with a fast-response, durable system, Teraloop’s solutions can mitigate voltage drops and stabilise energy flows, particularly during periods of high demand or power outages.
Sustainability is at the core of Teraloop’s mission and manifested in the design of its flywheels, which have a lifespan of over 25 years and are constructed from readily recyclable materials. This commitment to environmentally friendly solutions is further reinforced by the fact that 99% by mass of the materials can be sourced from European suppliers, with 94% recoverable through existing processes.
About Teraloop Oy
Teraloop was created in 2014 at the Aalto university campus and employs talented graduate and postdoctoral engineers covering electromagnetic, electrical, mechanical and advanced material disciplines.
The company has been supported by Business Finland, following private investments by Yaskawa, the Japanese leader in electronics, and EU-based experts in renewable energy businesses. Teraloop has also been the beneficiary of two grant-funded projects under the Horizon 2020 programme, to demonstrate and pilot the technology with end-users.
About Arteche Group
Founded in 1946, the Arteche Group operates within the electrical sector, from generation to distribution, specialising in electrical equipment, components, and solutions.
Arteche ranks among the top three global leaders in the measurement transformer market and holds a leading position in the auxiliary relay market. The Group is committed to enhancing the quality, efficiency, and reliability of electrical energy transportation and distribution, investing heavily in R&D to drive innovation. Arteche is present in over 175 countries, with 13 factories across Europe, America, Asia, and Oceania, and employs more than 2,800 people worldwide.
Media contact details:
- Ted Ridgway Watt, Chief Communications Officer
- ted.ridgwaywatt@teraloop.com
- +44 7894 321066
