THEMO
14.3.2024 08:01:33 CET | Business Wire | Press release
The smart thermostat technology of the Estonian-Finnish cleantech company Themo has passed the requirements for Fingrid's Frequency Containment Reserve in Finland. This means that the frequency of Finland's national electricity grid can in the future be balanced quickly and easily through the heating systems of all Finnish electrically heated households and other residential and accommodation spaces. Themo's smart thermostats save money for their users by optimizing electricity consumption while considering the current market price. In addition, the owners will now be compensated for the utilization of thermostats in the reserve market. Themo also secured a growth funding of 1.3 million euros for product development.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240313357001/en/
Pictured from left: Joonas Rantala, Sales Director of Themo, Madis Uuemaa, CEO and Markus Perkkiö, CFO. (Photo: Business Wire)
Themo's core innovation is an efficient electricity optimization algorithm on which the company's smart thermostats are based. In addition to many other parameters such as time of day and weather forecast, the algorithm considers fluctuations in the price of electricity on the stock exchange when optimizing electric heating.
Themo thermostats can now also be used to balance the frequency of Fingrid's grid. The reserve market operated by Fingrid is used to adjust the grid to balance electricity consumption and production. Themo's technology can control many relatively low-power, standard electric heaters with a fast response time.
“We have successfully verified the operation of 1 MW of power mass under test conditions organized by Fingrid. To pass Fingrid's FCR-D market requirements, the reserve market supplier must be able to detect the frequency deviation and make the necessary adjustment itself within 7.5 seconds. With our sophisticated cloud solution, aggregation and adjustment of devices is possible in seconds," says Madis Uuemaa, CEO and technology developer at Themo.
Aggregated power from 20,000 smart thermostats balances the frequency of the grid
Frequency Containment Reserve for Normal Operation (FCR-N) and Frequency Containment Reserve for Disturbances (FCR-D) are active power reserves that are automatically controlled based on the frequency deviation. The Frequency Containment Reserve for Disturbances (FCR-D), the control test which Themo smart thermostats have now passed, maintains a frequency of at least 49.5 Hz or up to 50.5 Hz when the frequency deviates from the standard range. At equilibrium, the frequency is 50.0 Hz.
“In practice, this means that when a frequency deviation is detected, the algorithm automatically switches on all Themo smart thermostats for a short period of time, for instance 20 seconds. Switching on does not affect the heating of the home or heating costs, but with 20,000 electric heaters in the Finnish market alone, aggregated power has a significant balancing effect on the frequency. In addition, Fingrid will pay a compensation based on marginal pricing," says Uuemaa.
Themo's b2b customers involved in the reserve market
Intelligent and rapidly adjustable electrical innovations like Themo are key to the transition from fossil fuels to more sustainable energy solutions. New energy solutions such as solar and wind are more volatile for the grid. To balance the frequency deviations of the grid, reserves are needed and Fingrid will purchase them from the market it operates. Such reserves are for examples power plants, consumption targets, and energy storage facilities that change their output as needed.
“It is a great achievement and socially important that we can use the large reserves of existing electric heaters to balance the grid. In the past, balancing was done mainly by fossil power plants. The technology developed by Themo is an important part of future smart electricity grids," says Joonas Rantala, Sales Director at Themo.
Themo's b2b customers, such as Sato, Y-Foundation, Asuntosäätiö, rental housing companies owned by the largest Finnish cities, Holiday Club resorts, and some other companies offering rental housing and other types of accommodation or care services participated in the approved test. In the future, Themo's b2c customers will also be able to participate in the reserve market.
Themo manages around 10 MW under its current customer base. The aim is to manage 60 MW by the end of 2026.
EUR 1.3 million growth funding for product development
In addition to passing Fingrid's reserve market regulation test, Themo also secured EUR 1.3 million in growth funding for product development. This funding will strengthen Themo's position in the market and enable it to invest increasingly in smart energy solutions. The company's long-term goal is to secure emission-free and affordable electricity for everyone. With smart thermostats, customers can save up to 50% of electricity compared to manual thermostats. For a large rental property operators or hotels, financial savings can amount to tens of thousands of euros.
The lead investor in the funding round is Sunly, an Estonian company investing in renewable energy and modern technology. Sunly has already participated in Themo's previous funding rounds. The second largest investor is Finnish Indie Investments, owned by Heikki Nakari. Other Finnish angel investors such as Henry Nilert and Ali Omar are also involved.
Themo is an Estonian-Finnish cleantech company founded in 2014. Themo consists of the parent company Smart Load Solutions OÜ and its wholly owned Finnish subsidiary Themo Nordic Oy. The technology developed by Themo is an important part of the smarter electricity grid of the future. The company's long-term mission is to enable clean and affordable electricity for all. www.themo.io
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240313357001/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Murata Develops World’s Smallest 008004-inch Size (0.25mm × 0.125mm) NTC Thermistor for Space-Constrained Temperature Sensing20.10.2026 04:00:00 CEST | Press release
Murata Manufacturing Co., Ltd. (TOKYO: 6981) (ISIN: JP3914400001) announces the development of the world’s smallest* 008004-inch size (0.25mm × 0.125mm) NTC thermistor, the NCU01 series. Compared with Murata’s previous smallest 01005-inch size (0.4mm × 0.2mm) product, the new series reduces mounting area by approximately 60% while achieving equivalent temperature-sensing performance, with resistance tolerance of ±1% and B-constant tolerance of ±1%. Its ultra-compact size enables temperature sensing to be positioned in increasingly restricted spaces and closer to heat-generating components, supporting more accurate and responsive thermal monitoring in smartphones, wearable devices, and other densely integrated electronic devices. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261019189089/en/ [Murata Manufacturing Co., Ltd.] World’s smallest 008004-inch size (0.25mm × 0.125mm) NTC thermistor Murata plans to begin sample shipm
Hologic Signs Definitive Agreement to Acquire Reveal Genomics19.10.2026 21:30:00 CEST | Press release
Acquisition would expand Hologic’s oncology diagnostics portfolio to help inform treatment decisions for more women with breast cancer Hologic, a global leader in women’s health, today announced that it has signed a definitive agreement to acquire Reveal Genomics, a precision oncology company based in Barcelona, Spain, that develops advanced genomic diagnostic tests to help personalized cancer treatment, including its HER2DX test to help optimize therapy for patients with HER2-positive breast cancer. Breast cancer remains one of the most significant health challenges women face today. Reveal Genomics’ tests are highly complementary to Hologic’s existing oncology diagnostics, including the Breast Cancer Index® (BCI) test, the guideline-recognized genomic assay to help inform decisions regarding extended endocrine therapy in women with HR+ early-stage breast cancer. The combination of Hologic’s existing testing with Reveal Genomics’ portfolio represents a significant expansion of Hologic
An Active Role in Freshness: ProAmpac Introduces ProActive Intelligence Shelf Protect19.10.2026 21:27:00 CEST | Press release
ProAmpac, a global leader in flexible packaging and material science, introduces ProActive Intelligence™ Shelf Protect (SP) Series, giving food producers a new way to help preserve product quality and reduce costly spoilage. Designed for select meat, seafood, and dairy applications, the technology is FDA- and USDA-compliant for intended uses in fresh beef, fresh pork, cooked sausage, deli meat, fresh salmon, and fresh cheese. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261019305953/en/ Clearshield®-SP Shrink Bag This direct food-contact biotechnology packaging helps reduce microbial growth associated with food spoilage in intended applications, supporting longer shelf life throughout storage and distribution. Shelf Protect’s patented biotechnology is built directly into food-contact packaging film. “For meat processors, every product lost represents an investment in production, packaging, and distribution that goes unreal
Vedanta Ltd Doubles Zinc Capacity in South Africa with US$ 600 Mn investment19.10.2026 19:19:00 CEST | Press release
Vedanta Limited doubled its annual zinc production capacity to 500,000 tonnes1in South Africa through an investment of nearly US$ 600 Mn at Gamsberg (Phase II) at Vedanta Zinc International (VZI). Gamsberg has one of the world’s most significant zinc deposits and is VZI’s flagship zinc mine. Inaugurated by South African President Cyril Ramaphosa and Vedanta Limited Director Priya Agarwal-Hebbar, this expansion marks one of the decade’s largest mining investments in South Africa. It advances Vedanta Limited’s position as the world’s largest2 zinc producer, with a vision of achieving 3 million tonnes of annual production across India and South Africa. Of this, 2 million tonnes are targeted from its subsidiary, Hindustan Zinc Limited the world’s largest integrated zinc producer, while Vedanta Zinc International business aims to contribute 1 million tonnes annually. This expansion strengthens the ZAR 21 Bn (nearly US$ 1.5 Bn) investment commitment Vedanta made at the 2018 South Africa Inve
Unlocking Digital Gold’s US$700bn Opportunity19.10.2026 18:00:00 CEST | Press release
The digital gold market, worth US$45–55bn today, could unlock up to US$700bn in latent demand, according to new research from World Gold Council and Boston Consulting Group. The report points to substantial untapped appetite among retail investors, with nearly nine in ten surveyed saying they would consider digital gold under the right conditions. The US$700bn opportunity represents the report’s estimate of total latent demand that could be released if today’s barriers to adoption were removed, rather than a near-term forecast. The report’s five-year base case sees digital gold growing by around 27% a year to US$160–170bn by 2031. That could rise to US$270–280bn over the same time if more barriers fall faster. Momentum is already building as financial markets undergo a broader digital transformation, bringing tokenised investment products increasingly into the mainstream. Tokenised gold, one segment of the digital gold market alongside vaulted digital gold, has grown fivefold in value
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom