Kiilto Ventures invests in Voltan Energy, a distributed geothermal energy scaleup

Kiilto Ventures invests in Voltan Energy, a Finnish scaleup that designs, constructs, finances and operates geothermal energy infrastructure. Compared to traditional heating sources, Voltan’s energy solutions provide a cost-effective, emission-free alternative for residents and building owners.

Today, district heating is the largest source of emissions in many Finnish large cities. For example, about 60% of Helsinki’s direct carbon dioxide emissions originate from the production of district heating. Due to the cold climate, the heat demand is considerable.

Since 2010, district heating prices in Finland have increased over 70 percent, translating into higher costs of living for apartment building residents and owners. In addition, there lacks a proper incentive or ability for these users to invest themselves into renewable energy sources, which require heavy upfront costs.

Helping everyone benefit from sustainable energy solutions

By working with leading construction companies like YIT, Voltan Energy can facilitate the development of green infrastructure and provide long-term operation and optimization for large residential buildings.

“With this funding round, we are able to accelerate the expansion and scaling of energy solutions for the built environment. Right now, we’ve been commissioned for over 30 sites” says Richard Cawén, Co-Founder of Voltan Energy.

A scalable model for new and existing buildings

Kiilto Venture’s investment will enable Voltan to construct more and larger energy sites in key markets, and strengthen its commercial and operational team.

“We invest in innovative companies that have the potential to ensure a sustainable future for the built environment, and energy solutions have a significant impact on that. The geothermal financing and go-to-market model offered by Volta Local Energy has the potential for positive change, as it enables the reduction of emissions from energy use in the built environment and improves the user experience. In addition, the model can be further developed, for example, with the help of technical innovations", says Matti Rönkkö, Head of Kiilto Ventures.

“The company's founders, Miika and Richard, have considerable experience in the energy sector and in the development of innovative business models. We believe that Voltan's team has the prerequisites to create a significant positive impact in new and renovation construction through both scaling expertise and innovation,” adds Matti.

A long-term vision for making everyday living more sustainable

Through its commitment to sustainability and customer-centricity, Voltan is participating in the construction of a carbon-neutral society for future generations.

“We’re excited to have Kiilto Ventures as a strong backer. We share the same passion for making the built environment better for everybody, today and in the long-term future. Like Kiilto, we want to be here to stay and eventually reach a 100-year old history,” says Miikka Lemmetty, Founder and CEO of Voltan Energy. 

Kiilto Ventures invests in and builds early-stage startups that future-proof the built environment and regenerate nature. Kiilto Ventures is the VC of Kiilto, a family-owned company based in Finland with a 100+ year-old history and 2080 vision, aiming to be an environmental leader in the areas of construction, industrial adhesives and fire proofing, professional hygiene and consumer goods. 

Voltan Lähienergia Oy is an energy company that focuses on green heating and cooling solutions for buildings. Voltan designs, constructs, finances, and operates ground-source heat systems for large properties. Voltan offers its services to construction companies, developers, real estate investors and housing associations.

For more information, please contact:

Matti Rönkkö, Head of Kiilto Ventures 
Kiilto Ventures
Tel. +358 40 628 0999

Miikka Lemmetty, Co-Founder and CEO 
Voltan Lähienergia Oy
Tel. +358 45 271 4247