Good Heat raises $2 million to electrify industrial heat and slash energy bills

Good Heat has secured $2 million in pre-seed funding to kickstart our Thermal Energy Storage deployment platform – delivering clean, affordable process energy to industry. 

Our backers Understorey Ventures, Investible, 2100VC and Foobar VC, share our vision to replace gas with renewable-powered thermal energy storage (TES) systems as industrial electrification is at a critical inflection point.  

Besides the capital to fuel our growth, we're bringing on board a group of investors who are deeply connected into global industry networks and with valuable experience backing energy-as-a-service platforms. 

Good Heat's heat-as-a-service model makes the transition simple: we finance, build, and operate thermal energy storage installations — our customers just buy heat, not hardware. We manage the heat battery through our intelligent energy management system (EMS), delivering lower energy bills, and drastically reduced emissions. 

Our first large-scale project in Victoria will help a major manufacturer save over $1.5 million annually while cutting carbon from gas combustion. By charging heat batteries when renewable electricity is cheapest and dispatching steam on demand, we cut industry energy bills and help stabilise the grid.  

With a growing pipeline and a model built to scale - Good Heat is ready to make electrified heat the obvious, preferred, and most profitable choice for industry!

Good Heat team (L-R): Bauke van Gent, Tom Geiser, Bruis van Vlijmen