Skyven Technologies Transforms the Financing of Industrial Decarbonization Projects

Skyven Technologies, Inc., an Energy-as-a-Service company with a mission to decarbonize industrial process heat, and Kyotherm, Inc., an investment company that specializes in the third-party financing of renewable thermal projects, have demonstrated public-private funding to decarbonize America's industrial manufacturing sector. This innovative financial approach was used to successfully implement the six decarbonization projects recently announced by Skyven and California Dairies, Inc (CDI), enabling more than 3,500 metric tons of CO2 reduction over the past year.

This public-private project financing, built on Skyven's Energy-as-a-Service (EaaS) model, combines direct financing from Skyven, third-party financing from Kyotherm, and public funding from the California Energy Commission's Food Production Investment Program (FPIP). Skyven's EaaS model is compatible with state and federal grant funding, including the FPIP program, serving a growing need for public-private partnership.

Under the EaaS model, the clean emissions-free heat delivered by Skyven's systems is measured and verified with meters and IoT data monitoring. The manufacturing facility pays for the delivered heat at prices lower than their current natural gas costs. The savings are shared by the manufacturer, third party financers, and Skyven for the life of the contract.

"When we first announced this partnership back in 2021, it was unproven - no one was doing this for industrial heat," said Arun Gupta, CEO of Skyven Technologies. "Today we're proud to report that the combination of public and private funding sources has led to fully operational industrial decarbonization projects that are outperforming original expectations - with no cost to the industrial manufacturer."

"Skyven's Energy-as-a-Service model removes the major financial barrier to industrial decarbonization projects," said Arnaud Susplugas, CEO of Kyotherm Inc. "It is great to see that Kyotherm's access to competitive capital and our dedication to energy efficiency projects are helping lead the industrial decarbonization revolution."

Skyven Technologies | https://skyven.co/

Kyotherm | www.kyotherm.com/en