The smart thermostat Technology developed by the Estonian-Finnish cleantech company Themo has successfully met the requirements for Fingrid’s Frequency Containment Reserve in Finland. This accomplishment means that the frequency of Finland’s national electricity grid can now be efficiently balanced through the heating systems of electrically heated households and various residential spaces. Themo’s smart thermostats not only optimize electricity consumption based on current market prices but also provide owners with compensation for participating in the reserve market. To further support its innovative technology, Themo has secured a growth funding of 1.3 million euros for product development.
Themo’s core innovation lies in its electricity optimization algorithm, which forms the basis of their smart thermostats. This algorithm takes into account various factors, including electricity price fluctuations, time of day, and weather forecasts, to optimize electric heating. In addition to providing energy-saving solutions for users, Themo thermostats can now play a crucial role in balancing Fingrid’s grid frequency, particularly in the Frequency Containment Reserve for Disturbances (FCR-D) market.
By passing Fingrid’s rigorous test conditions and proving its ability to detect and adjust to frequency variations within seconds, Themo’s technology is paving the way for a more sustainable energy future. With the participation of 20,000 smart thermostats, the aggregated power can effectively stabilize the grid frequency. This achievement not only benefits the environment but also offers financial incentives through compensation based on marginal pricing.
Themo’s involvement in the reserve market reflects a broader shift towards intelligent and adaptable energy solutions, essential for transitioning to more sustainable sources. By leveraging existing electric heating reserves, Themo is contributing to a greener grid that relies less on fossil fuels. The company’s collaboration with various b2b clients, including rental housing companies and resorts, underscores the widespread adoption and potential impact of their technology.
In addition to its technological advancements, Themo has secured significant growth funding to further enhance its product offerings and expand its market presence. The funding, led by key investors like Sunly and Indie Investments, highlights confidence in Themo’s mission to provide clean and affordable electricity for all. Through smart thermostats, customers can not only achieve significant energy savings but also contribute to a more sustainable and efficient electricity grid.
As an Estonian-Finnish cleantech company dedicated to shaping the future of electricity grids, Themo continues to innovate and lead the way towards a cleaner, more sustainable energy landscape. With a focus on emission-free solutions and customer-centric energy optimization, Themo is poised to make a significant impact on the global transition to cleaner energy sources.
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