Energy Dome, the company behind the breakthrough long-term energy storage solution CO2 BatteryTM, announced today that it has completed a Series-B financing round for 40 million euros (about 44 million dollars).
The financing round was overseen by Eni Next, Eni’s Corporate Venture Capital arm. Eni Next invests in high-growth start-ups to accelerate the energy transition to a zero-carbon future.
Sein portfolio includes start-ups with ground-breaking technologies such as energy storage and fusion. The round was led by Neva SGR, a venture capital firm affiliated with Intesa Sanpaolo, one of Europe’s largest banking groups. Climate and energy-saving technologies are critical components of Neva SGR’s investment strategy.
Existing investors, including Barclays’ Sustainable Impact Capital, CDP Venture Capital, an Italian asset management firm owned by CDP Equity Spa, and Invitalia, which aims to support the development of all actors in the innovation ecosystem through its Evolution Fund, have joined Energy Dome’s Series B round, reaffirming their faith in the company’s potential and the team behind it.
The Japan Energy Fund, a specialized Climate Tech Venture Fund that represents companies such as Biprogy, Enechange, Mitsui Sumitomo Trust Bank, and Toshiba Energy Systems, is also taking part in the round.
Elemental Excelerator, a non-profit US investor with a focus on climate technology, is among the Series B participants.
With this financing round, the capital invested in Energy Dome has increased to around 54 million EUR. The proceeds from this investment will enable Energy Dome to enter the full commercial scalability mode on a worldwide scale.
The Energy Dome solution for long-term energy storage is being enthusiastically adopted by the global market. Energy Dome already collaborates with several energy providers, independent power generators, and corporate clients in key markets.
The end result is a qualified pipeline with over 9 GWh capacity in markets such as the United States, Europe, South America, India, and Australia. The company’s short-term goal is to maintain the previously gained dynamic.
Energy Dome has developed itself in only three years from startup to full commercialization and will have two standard 20MW-200MWh frameworks available until the end of 2024. The first unit is already in production, with key components being manufactured by key suppliers.
Energy Dome revolutionizes energy storage and enables decarbonization of power grids by making solar and wind energy available around the clock.
The company invented and developed the CO2 BatteryTM, a long-term energy storage device that has made long-term energy storage a reality around the world.
The properties of kohlendioxid enable the system to store energy efficiently and affordably, despite its modular and standort-independent design.
CO2 BatteriesTM make use of readily available, commercially available components from dependable, existing supply chains. They provide a means of storing large amounts of intermittent renewable energy and hastening the energy transition.
