Multi-day energy storage startup Ore Energy clinches $43M in new investment round
Dutch energy storage startup Ore Energy has raised more than $40m, as it looks to commercialise its long-storage batteries. The $43m Series A funding round was led by two new investors, tech-investor P... Ore Energy's tech is looking to solve a key bottleneck in the energy transition, which is storage.
Key Takeaways
- Energy Multi-day energy storage startup Ore Energy clinches $43M in new investment round Ore Energy's tech is looking to solve a key bottleneck in the energy transition, which is storage.
John Reynolds 1 hour ago Share Share Send email Copy link Dutch energy storage startup Ore Energy has raised more than $40m, as it looks to commercialise its long-storage batteries.
- The funding brings the company's total raised to $61m.
Ore Energy's tech is looking to solve a key bottleneck in the energy transition to renewables, which is storage.
- Built using iron, water and air, Ore Energy say its batteries can be manufactured through a fully European supply chain, without relying on imported critical raw materials like lithium or cobalt.
Ore Energy has signed what it says is the largest long-duration energy storage system deal in continental Europe, with Dutch energy supplier Budget Thuis.
- Affordable, renewable baseload power is the foundation for the next generation of manufacturing, AI infrastructure and industrial growth globally.
Ore Energy's long-duration storage is an essential part of that future.
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Stats & Key Facts
- #Dutch energy storage startup Ore Energy has raised more than $40m, as it looks to commercialise its long-storage batteries.
- #The $43m Series A funding round was led by two new investors, tech-investor P...
- #Energy Multi-day energy storage startup Ore Energy clinches $43M in new investment round Ore Energy's tech is looking to solve a key bottleneck in the energy transition, which is storage.
- #John Reynolds 1 hour ago Share Share Send email Copy link Dutch energy storage startup Ore Energy has raised more than $40m, as it looks to commercialise its long-storage batteries.
Ore Energy's tech is looking to solve a key bottleneck in the energy transition, which is storage. Energy Multi-day energy storage startup Ore Energy clinches $43M in new investment round Ore Energy's tech is looking to solve a key bottleneck in the energy transition, which is storage. John Reynolds 1 hour ago Share Share Send email Copy link Dutch energy storage startup Ore Energy has raised more than $40m, as it looks to commercialise its long-storage batteries.
The $43m Series A funding round was led by two new investors, tech-investor Plural and HV Capital, the European early-stage and growth VC firm. The round also included investment from Amsterdam VC Positron Ventures. The funding brings the company's total raised to $61m.
Ore Energy's tech is looking to solve a key bottleneck in the energy transition to renewables, which is storage. It says its iron-ore batteries can store electricity for up to 100 hours, unlike lithium-ion batteries, which typically deliver energy over a few hours. Advocates of its tech say it will transform how we power industry, scale AI data centres and drive economic growth.
For more details please read the original article at Tech.eu.
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