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.