Kyoto Group has announced the appointment of Simen Valaamo as Chief Financial Officer (CFO). With a strong track record in finance, energy markets and business development within the European energy and process industries, Mr. Valaamo brings a wealth of experience that aligns with Kyoto’s mission to decarbonize industry through sustainable, low-cost heat.
“We are thrilled to welcome Simen into his new role as CFO and a key member of the leadership team. His energy market expertise and his central role in the development of our Heat as a Service (HaaS) model will be instrumental as we scale to meet the growing demand for decarbonized industrial heat in Europe.”
– Morten Bülow, CEO of Kyoto Group.
“At the same time, I want to thank Håvard Haukdal for his outstanding service and commitment to Kyoto. His financial leadership was critical in securing strategic investments and green financing, navigating our delisting processes, and establishing Kyoto as a trusted partner for industrial decarbonization.”
– Morten Bülow, CEO of Kyoto Group.
Simen Valaamo takes over from Håvard Haukdal, who has held the CFO position since September 2022. Mr. Valaamo will be based in Kyoto Group’s Seville office.
Mr. Valaamo joined Kyoto Group in March 2022 as a business developer and has served as director of market intelligence since February 2024. Prior to joining Kyoto Group, he worked for over six years in senior analyst and management roles at StormGeo Nena, a leading Nordic analysis house specializing in financial commodity and energy markets, and at global aluminum producer Alcoa.
“I look forward to continuing working with our board, leadership team, employees and partners to deliver on our strategic ambitions. Having been part of Kyoto Group for over three years, I’m excited to help drive our next phase of growth as we scale Heatcube installations, deepen customer partnerships, and pioneer sustainable industrial heat across Europe.”
– Mr. Simen Valaamo, New Chief Financial Officer.
Kyoto Group is a leading thermal battery company committed to decarbonizing industrial heat with its innovative solution, Heatcube. Industrial heat production is responsible for 40% of global carbon emissions—primarily driven by fossil fuels—but this often-overlooked emitter can be decarbonized today with Heatcube.
Heatcube provides a sustainable, cost-effective, plug-and-play solution that efficiently captures and stores renewable energy, converting it into electricity-powered heat to generate steam for industrial applications. Kyoto Group is on a mission to empower industries with renewable thermal energy, paving the way for a world powered by nature.
Founded in 2016, Kyoto Group has offices in Oslo, Norway, and Seville, Spain, and operates through subsidiaries in Denmark. Our principal owner, Glentra, a leading Danish energy fund, drives the green transition through innovative decarbonization and energy efficiency technologies.
