Family office-backed 'sand battery' startup plots European expansion after major milestone

A Finnish startup backed by family office Stephan Industries has proved its giant sand battery can replace fossil fuels in a town's heating network.

Now it wants to replicate the model across Europe – and plans to begin raising for its Series A round this year.

"We have active negotiations underway in several European countries," Annette Höglund-Dönnes, CCO at Polar Night Energy, tells Impact Loop.