Straumlind and Alor collaborate to improve utilization of energy

Straumlind and the innovation company Alor have signed a letter of intent regarding collaboration to develop solutions that improve utilization of energy, reduce strain on the grid and provide Icelandic households with low electricity prices.

From the year 2021 Straumlind has offered Icelander low electricity prices using its own computer software, developed with smart meters, automation and the future in mind. The software makes Straumlind unique in the market with high adjustability capabilities. Straumlind was therefore the first electricity sales company to automate registrations of new customers and to offer households a Night time discount.

"We at Straumlind believe that Icelandic households can play a big part in utilizing the electricity grid better. With improved utilization we lessen the need for untimely and expensive investments to manage peaks in the demand. Straumlind is working tirelessly towards being the best option for households in the electricity market, both with regard to prices and smart solutions. Today we are offering the lowest price in the market, Night time discount and we are developing a solution that will give the general user information and positive incentives that contribute to reducing peaks in the demand. We believe that a collaboration with Alor can add great support to these projects" says Símon Einarsson, CEO of Straumlind.

Alor is developing sustainable energy storages with batteries that will support Straumlinds projects regarding developing solutions that increase balance in the grid, improve utilization of energy and low electricity prices in Iceland. Alors aluminum batteries are 95% recyclable, with low UMHVERFIS footprint in addition to being safe to operate and move since there is no fire- or explotions hazard. Research have shown that the lifetime of these batteries is at least double the lifetime of known battery techniques on the market today. Alor plans to finish the development of a battery product by the end of year 2024.

"It has never been more important to utilize the electricity we generate the best and in that mission energy storages play a big part, e.g. by storing electricity until it is needed and decreasing peaks in the demand. Big challenges call for cooperation of different parties and we believe that valuable solutions can be created by bringing our revolutionary battery together with an electricity sales company that has innovation as its goal" says Linda Fanney Valgeirsdóttir, CEO of Alor.