Family office-backed 'sand battery' startup plots European expansion after major milestone
17 Jun 2026
06:00
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.
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.
A year ago, a tank of crushed rock the size of a house switched on in a small Finnish town. A year later, it has been shown to slash the emissions of the town by 70%. Now the company behind it is raising money and signing deals across the continent.
Polar Night Energy is preparing a Series A and expanding into new European markets, according to the startup’s chief commercial officer Annette Höglund-Dönnes.