Wiersholm has assisted Kyoto Group on strategic investment

Kyoto Group AS has signed a strategic investment agreement with Iberdrola and Spirax-Sarco Engineering plc.

The transaction comprises a NOK 76.17 million equity raise against Iberdrola and Spirax-Sarco Engineering subject to approval by the annual general meeting to be held on 30 June. Our capital markets team consisting of Anne Lise Gryte, Karl Magnus Ulstein-Rygnestad and Markus Olaussen.

In connection with and subject to completion of the capital raise, Kyoto will also enter into certain agreements related to commercial and technical cooperation with the investors, including a partnership agreement with Spirax-Sarco on development of electrical heaters. Wiersholm’s renewable partner Inge Ekker Bartnes, joined by Åsmund Kjos Fjell has assisted Kyoto in these negotiations.

Kyoto Group’s mission is to make renewable energy a plug-and-play solution by building a thermal battery, Heatcube, which provides a sustainable and cost-effective alternative to traditional fossil fuels by capturing and storing abundant but variable energy from sources such as solar and wind.