CO2 battery solution

 

Italian-based Energy Dome raises 10M euro Series A to advance the first commercial deployment of a low-cost, long-duration CO2 battery. In this article we let you know why this deal stood out to us especially!

Energy Dome announced that they have closed an $11 Million Series A funding round to advance the first commercial deployment of a low-cost, long-duration CO2 battery.
360 Capital led the round, with participations from Barclays and Novum Capital Partners and strategic investor A2A, an Italian multi-billion energy company.

The Italian-based company was founded in 2019 and is part of ‘Cohort 417’ from Third Derivative, a global climate technology start-up accelerator founded by RMI and New Energy Nexus.

CO2 battery solution

Energy Dome’s innovation is a patented CO2 battery solution with a closed-loop cycle in which it changes CO2 from gas to liquid and back to gas. This enables the battery to charge/discharge in cycles that range between 4 to 24 hours, making it ideal for intra-day cycling which has many practical advantages compared to much of the existing battery technologies. With a low-cost modular design based on off-the-shelf components, a closed thermodynamic process with a 75-80% round-trip efficiency is created.

Advantage of the system

An advantage of the system is, that it can target a wide range of customers including utilities, independent power producers, grid operators, industrial applications, and remote mining Operations.
Hence, the battery can potentially provide a key solution for some of the present problems that arise due to demand and supply variance in renewable energy.

Why did we choose this deal?

This deal stands out to us as it comes with a signed MoU for a proposed 100MWh project with A2A. Furthermore, the company and technology are very scalable and if done successfully, this could provide a potentially crucial solution in the pathway to reducing power sector emissions and keeping global warming limited to 1.5°C by 2040. Energy Dome is a client of the PNO group.

Read more about this deal in their press release.

More information

Would you like to know more about entrepreneurial financing? We are happy to help you! Fill out the contact form and one of our specialists will get in touch with you.

 

CONTACT US

Send us a short message and we’ll get in contact ASAP.