Antora Energy Raises $150 Million to Slash Industrial Emissions and Spur U.S. Manufacturing


Sequence B funding led by Decarbonization Companions will speed up manufacturing of Antora Power’s factory-built thermal batteries to decarbonize industrial amenities throughout the US and world wide.

Antora Power, a pacesetter within the zero-emissions warmth and energy business, has raised a $150 million Sequence B funding spherical led by Decarbonization Companions, a partnership between BlackRock and Temasek. This spherical of financing will allow Antora to ramp up manufacturing of factory-made thermal batteries to offer billions of {dollars} value of zero-emissions power to industrial prospects. Emerson Collective, GS Futures, The Nature Conservancy, and a subsidiary of NextEra Power Assets, LLC additionally participated on this spherical, together with present traders Belief Ventures, Lowercarbon Capital, Breakthrough Power Ventures, BHP Ventures, Overture VC, and Grok Ventures.

“Relating to decarbonizing the business, we now have no time to waste”

Antora unlocks zero-emissions industrial power, cheaper than fossil fuels. Antora harnesses renewable electrical energy to warmth blocks of strong carbon—a low-cost, earth-abundant, and secure storage medium extensively utilized in industries—into radiant warmth. temperature of an insulated module. The saved warmth is then reliably provided on the scale and temperature demanded by giant industrial operations. As well as, Antora’s thermal battery can generate electrical energy with breakthrough efficiencies utilizing Antora’s thermophotovoltaic (TPV) know-how, which converts saved warmth immediately into electrical energy with out the drawbacks of a standard warmth engine.

Trade is the only largest contributor to local weather change, accounting for 30% of world emissions.1 As wind and photo voltaic turn out to be the planet’s most cost-effective sources of latest electrical energy, business most aren’t ready to make use of this clear power potential for a easy manner. purpose: cost-effective option to retailer intermittent renewable power on an industrial scale.

Antora bridges the hole between renewable power and industrial manufacturing, offering zero-emissions warmth and energy to factories with American-made batteries. Manufactured on the firm’s manufacturing unit in San Jose, CA, Antora’s modular thermal batteries roll off the manufacturing line able to be shipped on the highway for easy set up in industrial areas. Antora’s thermal batteries can have a major impression on decarbonizing industrial power whereas creating US jobs, stimulating America’s manufacturing sector, and strengthening home provide chains.

“Relating to decarbonizing the business, we now have no time to waste,” mentioned Andrew Ponec, co-founder and CEO of Antora Power. “We’re happy to affix forces with Decarbonization Companions and all of our unimaginable traders to additional Antora’s development. This financing will allow us to construct and deploy our thermal batteries quicker, persevering with to full velocity forward to decarbonize business in the US and world wide. As a result of our thermal batteries are manufactured in a manufacturing unit in the US, this isn’t solely an funding in Antora, it’s an funding in US jobs, manufacturing, and management within the clear power transition.”

“New know-how is required to assist decarbonize the commercial power sector as a part of the transition to a low-carbon economic system,” mentioned Dr. Meghan Sharp, International Head and Chief Funding Officer at Decarbonization Companions. “Antora is the clear chief in decarbonizing industrial warmth, which accounts for 15% of world emissions.2 This capital will allow Antora to develop its manufacturing and industrial deployments, assembly important demand prospects for its zero-emissions warmth and energy merchandise in the US and world wide. We’re happy to accomplice with the Antora staff.”

This funding comes on the heels of great milestones the corporate has achieved since asserting its Sequence A in 2022, bringing complete funding to over $230 million. Along with help from non-public traders, Antora has acquired important early and ongoing help from the US Division of Power’s Superior Analysis Tasks Company-Power (ARPA-E) and Industrial Effectivity and Decarbonization Workplace (IEDO); the Nationwide Science Basis; and the California Power Fee (CEC).

Final yr, the corporate’s momentum was marked by:
• Launch of its commercial-scale thermal battery, a factory-built system that shops power at temperatures too scorching to deal with “hard-to-decarbonize” sectors similar to cement and metal.
• Opening of a landmark US-based thermal battery manufacturing facility, the place Antora will manufacture its thermal battery modules for the corporate’s first main industrial challenge.
• Constructing the world’s first devoted manufacturing line for thermophotovoltaic (TPV) cells and demonstrating an effectivity of greater than 40% for its TPV know-how, unlocking the twin warmth and energy output wanted to totally remove fossil gas combustion in as we speak’s manufacturing processes.
• Named one among TIME’s Greatest Innovations of 2023 and Quick Firm’s 2023 World Altering Concepts.

To be taught extra about Antora Power, go to www.antoraenergy.com and observe the corporate on LinkedIn and Twitter.

About Antora Power
Antora Power unlocks zero-emissions warmth and electrical energy for business, cheaper than fossil fuels. Antora’s thermal batteries convert low-cost, intermittent renewable electrical energy into dependable industrial power. In-built a manufacturing unit in the US, Antora’s modular thermal batteries launch electrical energy and warmth at temperatures excessive sufficient to satisfy essentially the most demanding industrial decarbonization functions. Antora merchandise will decarbonize international business whereas supporting US jobs, encouraging American manufacturing, and strengthening home provide chains. The corporate is backed by main traders, together with Decarbonization Companions, Belief Ventures, Lowercarbon Capital, Breakthrough Power Ventures, Emerson Collective, The Nature Conservancy, BHP Ventures, Grok Ventures, GS Futures, Overture VC, and a subsidiary of NextEra Power Assets, LLC.

About Decarbonization Companions
Decarbonization Companions is a three way partnership between Temasek and BlackRock targeted on late-stage enterprise capital and early-growth non-public fairness investments in next-generation firms that present options and applied sciences to assist speed up in international efforts to realize a web zero international economic system by 2050. Decarbonization Companions combines Temasek and BlackRock’s complementary platforms and experience in sourcing and underwriting non-public investments, portfolio and danger administration, and sustainable know-how and analytics. Decarbonization Companions invests in a variety of firms which have confirmed know-how and want capital to scale. The partnership targets a number of sectors, together with Carbon Seize, Storage and Utilization, Bio and Low Carbon Merchandise, Subsequent Era Power, Superior Mobility, Carbon Administration Providers and Digital Transformation. The partnership displays BlackRock and Temasek’s joint dedication to serving to construct extra sustainable and steady portfolios, whereas additionally contributing to constant, long-term monetary returns that profit their purchasers and stakeholders.



Source link

We will be happy to hear your thoughts

      Leave a reply

      F2C Deals
      Logo
      Compare items
      • Total (0)
      Compare
      0

      Joe Doe in London, England purchased a

      Joe Doe in London?

      Joe Doe in London, England purchased a

      Joe Doe in London?

      Joe Doe in London, England purchased a

      Joe Doe in London?

      Joe Doe in London, England purchased a

      Shopping cart