EnergyNest was awarded the first prize in the 2017 edition of the Nordic Cleantech Open. The contest, organized by Cleantech Scandinavia, consisted of several competitive rounds in which hundreds of companies applied. Only 25 of these applicants were invited to pitch in front of a jury panel with representatives from prominent venture capital firms. The final top ten companies were invited for a final round of pitches at the Cleantech Capital Day in Oslo, Norway, with EnergyNest being announced as the winner on April 3. This marks the first time that a Norwegian company wins the prestigious contest.

"This was a very pleasant surprise. We effectively won recognition as one of the top cleantech companies," said Dr. Christian Thiel, CEO of EnergyNest. "With a robust technology based on well-known, globally available and fully recyclable materials, a certified system performance, and real commercial traction, we believe that we were able to come up with an attractive value proposal."

"This would not have been possible without a dedicated and talented team working hard to make this business turn into a commercial success. We also would not have come so far without strong support from Innovation Norway and the Norwegian Research Council," Dr. Thiel went on to add. "Our most sincere thanks go to Cleantech Scandinavia for their important role in organizing the Cleantech Open, which is undoubtedly the greatest platform for increasing the visibility of clean technology initiatives in the Nordic region. Their work is invaluable."

About EnergyNest: EnergyNest is a Norwegian technology company. Founded in 2011, the company has developed a unique and patented design for a modular solid-state thermal energy storage ("TES") systems and a solid-state storage medium (HEATCRETE®) that enables a very simple, efficient, and low-cost energy storage system. The TES technology can be applied in various markets that require high temperature thermal energy storage for many hours or days. The EnergyNest technology was demonstrated at the Masdar Institute, United Arab Emirates.

About the Nordic Cleantech Open: The Nordic Cleantech Open is a competition for cleantech entrepreneurs originating from the Nordic and Baltic countries. The purpose is to put a global spotlight on the ever-increasing flow of new innovative cleantech companies coming out the gate from the Nordic and Baltic innovation systems, to raise the interest from international investors and industrials, to help foster a new generation of cleantech teams, to attract new entrepreneurs to choose the cleantech sector and to accelerate Nordic cleantech companies onto the global market.

About Cleantech Scandinavia: Cleantech Scandinavia runs an internationally established network of investors, industrials and public actors, all with an interest in Nordic Cleantech. During its eight years in business, the organization has become a trusted source of cleantech-related investment opportunities, business intelligence, investment statistics and is renowned provider and promoter of Nordic Cleantech. The organization counts more than 70 members from the Nordics, Baltics, China, Great Britain, Belgium, Germany and France. This includes members such as Capricorn, Evonik Corporate Venturing, Tsing Capital, IdInvest Partners, Cleantech Invest, Sustainable Technology Partners, H&M, BASF Venture Capital, Dow Venture Capital, IKEA GreenTech, Veolia, General Electric, MAHLE Venture Capital and SABIC Ventures.