The European Fee chosen the Power Dome, in essentially the most aggressive European funding scheme, as a sport changer within the vitality transition
Power Dome, the corporate behind the CO2 Battery, a disruptive long-term vitality storage resolution, right this moment introduced that it has been awarded €17.5 million in funding from the European Innovation Council (EIC), the biggest quantity accessible to program.
The EIC Accelerator is Europe’s flagship funding program to determine, finance and scale-up improvements in strategic areas, together with vitality storage. The funding shall be made via the EIC Fund, a novel entity owned by the European Fee to make grants and direct fairness investments in firms with good cleantech options.
Power Dome was chosen via a aggressive course of from greater than 1000 firms that submitted a whole utility.
“This strategic assist of the European Fee allows Power Dome to speed up the event of our enterprise and the deployment of CO2 Batteries in world markets,” stated Claudio Spadacini, Founder and CEO of Power Dome.
Lengthy-term vitality storage is the lacking hyperlink in a totally decarbonized vitality market, because it will increase the flexibleness of the grid and permits the protected and environment friendly integration of renewables into world grids. of electrical energy. At the moment, there’s a vital expertise hole out there, for which the CO2 Battery is the proper resolution, by offering high-efficiency vitality storage at a aggressive price and utilizing available, off-the- shelf elements that make this expertise accessible to prospects world wide.
The EIC Fund joins different strategic buyers, together with Barclays, 360 Capital, CDP Enterprise Capital SGR and Novum Capital Companions, who’ve invested a complete of $25 million in Power Dome, fueling the Firm’s progress in its mission to vitality switch happens.
Concerning the Power Dome
The Power Dome revolutionizes vitality storage and prompts the decarbonization of the grid by making photo voltaic and wind energy accessible 24/7. The corporate invented and developed the CO2 Battery, a Lengthy-Length Power Storage system that makes Lengthy Length Power Storage viable worldwide, right this moment. The properties of carbon dioxide permit the vitality storage system to be environment friendly and cost-effective, with a modular and site-independent footprint. The CO2 Battery makes use of available, off-the-shelf elements from dependable and current provide chains, offering a method to retailer massive quantities of intermittent renewable vitality and facilitate the vitality transition. For extra data, please go to www.energydome.com.