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WSC bolsters its commitment to decarbonisation of industries with a strategic investment in Solatom and a new investment platform to fund, own, and operate projects

Madrid, Spain, 31 May, 2024 – White Summit Capital (“WSC”), a specialised energy transition infrastructure investor and manager, has made a strategic investment in Solatom CSP, S.L. (“Solatom”), a pioneer of Concentrated Solar Heating, as part of a partnership to deliver solar thermal energy projects to industrial clients across Europe. The partnership showcases their joint commitment to accelerate the decarbonisation of industries.

Under the terms of the partnership, WSC will establish a newly formed investment platform that will fund, own and operate projects developed and built by Solatom. Their solution will provide industrial firms with an efficient way to swap conventional fossil-fuels for renewable heating solutions without having to bear the significant upfront costs of building such infrastructure. WSC is acquiring a stake in Solatom alongside other investors who participated in the company’s latest capital increase.

Solatom, based in Valencia, Spain, and known for its patented use of proven Compact Linear Fresnel Reflector (CLFR) technology (TRL9), specializes in generating clean and cost- effective thermal energy via steam and high-temperature water for industrial applications. The company leverages a modular design that is both space-efficient and scalable. This customer- centric approach is exemplified in Solatom’s existing 4 MWth1 project for Heineken in Valencia and an extensive €100+ million project pipeline totalling 100+ MW across Spain, continental Europe and Latin America.

WSC has designed a tailormade structure to fund the construction of exclusive Ready-to-Build CSH projects developed by Solatom. Through this newly established platform, WSC will own and operate assets that deliver reliable, cost-effective solutions for industrial processes through long-term Heat Purchasing Agreements (HPAs).

Solatom’s CSH plants can generate a wide range of medium temperatures, from 90°C to 450°C, meaning it can be applied in industrial processes such as boiling pasteurising, cleaning and drying, and also higher temperature applications such as distilling, nitrate melting and compression. The technology is seeing rising industrial demand, particularly from the food and beverage industry, which is seeking to reduce CO2 emissions across their plants with long-term contracts that ensure stable, cost-competitive thermal energy supply.

“The partnership with WSC will expand our market reach by accelerating the growth of our HPA product, which is crucial for us to deliver a compelling customer-centric solar solution for industrial steam generation,” stated Miguel Frasquet, Solatom’s CEO.

“This collaboration with Solatom highlights our ongoing strategy to support proven energy transition initiatives that are ready to scale and align with global sustainability goals,” remarked Amaia del Villar, Head of Investment Management at WSC. “We aim to not only boost Solatom’s capabilities but also accelerate the adoption of CSH across sectors and markets.”

1 Megawatt thermal (unit of thermal power produced).

About White Summit Capital

White Summit Capital is a privately owned, long-term investor specialised in sustainable energy infrastructure with over €2.1 billion of deployed capital through investments in Europe and North America.

WSC manages capital on behalf of long-term investors including pension funds, sovereign wealth funds, and other institutional investors. Decarbonisation of industries is a key pillar of White Summit Capital’s investment strategy and a focus of its new Article 9 White Summit Capital Decarbonisation Infrastructure Fund.

WSC has made investments across key segments of the energy transition, including renewables integration, sustainable transportation, and the decarbonisation of industries. WSC is registered with Spain’s CNMV as an Alternative Investment Fund Manager.

About Solatom

Solatom is a Valencia-based company specialised in Concentrated Solar Heating (CSH). The company leverages its patented technology to provide cost-effective and sustainable thermal energy solutions, aimed primarily at industrial applications.