The global fashion retailer H&M Group is investing in
Rondo and joining Rondo's Strategic Investor Advisory Board to
explore the potential for heat storage technologies to help
decarbonize the textile supply chain.
ALAMEDA, Calif., June 19, 2024 /PRNewswire/ -- Fashion
company H&M Group is partnering with Rondo Energy, the
leading provider of zero-carbon industrial heat and power, to
explore the potential for heat storage technologies in its supply
chain. The fashion company is also making an investment in Rondo
and joining Rondo's Strategic Investor Advisory Board (SIAB). The
new collaboration will help Rondo deliver clean, affordable heat
powering textile factories around the world.
Rondo Heat Batteries combine century-old materials and
cutting-edge automation to turn intermittent renewable electricity
into the continuous, high-temperature heat and power required by
industries including textile producers. H&M Group and Rondo
will explore opportunities for factories in the group's global
supply chain to replace fossil fuels with clean heat and power
delivered by Rondo Heat Batteries. Rondo will use H&M Group
Ventures' investment to expand its international operations and to
develop and build storage projects serving this need.
Rondo Heat Batteries deliver deep decarbonization by changing
the fuel, not the factory. As a member of Rondo's advisory board,
H&M Group will join other global leaders seeking large-scale,
low-cost, zero-carbon energy to power their operations, including
Rio Tinto, Aramco Ventures, SABIC, SCG, TITAN, and SEEIT.
"Producing and finishing fabrics requires large amounts of
low-cost energy, which makes our brick batteries a perfect fit,"
said John O'Donnell, Founder
& Chief Innovation Officer of Rondo Energy. "Today, coal
delivers most of the heat and most of the carbon pollution making
fabrics, because it's always been cheap and simple to burn. But the
world is changing. Region by region around the world, wind and
solar power are becoming cheaper than fossil fuels. At Rondo, we've
created a simple, practical tool to harness those new energy
sources."
"Rondo is thrilled to be working in partnership with H&M
Group to explore how our technology can be of use in their supply
chain, and to have H&M as an investor and member of our
Strategic Investor Advisory Board," said Eric Trusiewicz, CEO of Rondo Energy.
The fashion industry has been called "hard to decarbonize," due
to the structure of the industry and its needs for low-cost energy.
Today, making what we wear releases some 5% of global greenhouse
gases, and emissions are rising every year. Rondo Heat Batteries
replace most fossil fuel use in fabric production, and could cut
the carbon footprint of our clothing by nearly two-thirds.
H&M Group has been investing steadily in decarbonizing its
supply chain through several initiatives to support suppliers
reducing their use of energy, increasing their use of renewable
electricity and replacing fossil fuels. Now H&M Group's
investment arm, H&M Group Ventures, is taking the next step
with Rondo.
"Rondo is H&M Group Venture's first investment in
decarbonisation technology. The company's thermal battery energy
storage has the potential to help factories electrify, which is key
to achieving our climate targets. We look forward to working
closely with Rondo and the broader ecosystem in scaling decarb
tech," said Laura Coppen,
Sustainability Investments at H&M Group Ventures.
Southeast Asia is a center of
the world textile industry, where companies like H&M Group are
seeking to further create positive impact for people, the planet
and economies. Rondo is well suited to serve H&M Group's
work in this region, with a growing presence and experience base in
the region today. In May, Rondo and SCG Cleanergy announced
Southeast Asia's first heat
battery, and the world's first heat battery powering a cement
plant. Rondo and SCG have established large-scale production
capacity in Thailand, and
announced plans to scale production capacity to 90GWh/year.
About Rondo Energy
Rondo Energy enables industrial decarbonization—both feasible
and profitable—today. The Rondo Heat Battery harnesses low-cost
renewable electricity and delivers the world's highest temperature,
highest efficiency energy storage of any kind, empowering customers
to operate with zero-carbon energy.
In March 2023, Rondo started the
first commercially operating electric thermal energy storage system
in the U.S., with the highest efficiency and temperature energy
storage worldwide.
Learn more at rondo.com.
About H&M Group
H & M Hennes & Mauritz AB (publ) was founded in
Sweden in 1947 and is quoted on
Nasdaq Stockholm. H&M's business idea is to offer fashion and
quality at the best price in a sustainable way. In addition to
H&M, the group includes the brands COS, Monki, Weekday, &
Other Stories, H&M HOME, ARKET, Afound and Sellpy. H&M
Group's investment arm H&M Group Ventures makes long-term
investments in entrepreneur-led companies working with solutions
for a circular and more sustainable fashion industry. Learn more at
hmgroup.com and hmgroupventures.com
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