LONDON (dpa-AFX) - Spirax-Sarco Engineering plc (SPX.L), a thermal energy management and fluid technology solutions group, Thursday announced its decision to take 15% stake in thermal battery company Kyoto Group with an investment of 3 million pounds.
Spirax-Sarco will also enter into agreements to accelerate the decarbonisation of industrial process heat with Kyoto's Heatcube, a molten salt thermal energy storage solution.
On approval at Kyoto's Annual General Meeting to be held on 30th June, Spirax-Sarco Engineering, Kyoto and Iberdrola, a clean energy company, will sign agreements to support the development of Heatcube, Spirax-Sarco said in a statement.
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