Energy Dome Closes 40 Million Euro Series B Financing Round

Firm Behind CO2 Battery™ Secures Extra Funding to Scale World Product Commercialization and Velocity ​​Time-to-Market

Vitality Dome, the corporate behind the CO2 Battery™, the brand new long-duration power storage answer, at the moment introduced that it has closed a 40 million euro (circa $44 million) Sequence A funding spherical B.

The financing spherical was led by Eni Subsequent, the company enterprise capital arm of Eni. Eni Subsequent invests in high-growth start-ups to advertise the power transition to a zero-carbon future. Its portfolio contains start-ups with probably the most disruptive applied sciences, equivalent to power storage and fusion. The spherical was led by Neva SGR, the enterprise capital firm of Intesa Sanpaolo, one of many largest banking teams in Europe. Local weather expertise and power switch applied sciences are one of many most important areas of the funding technique for Neva SGR.

Current buyers adopted Vitality Dome’s Sequence B spherical, confirming their religion within the potential of the corporate and the crew behind it, together with Barclays’ Sustainable Influence Capital, CDP Enterprise Capital, Italian asset administration firm owned by CDP Fairness Spa, and Invitalia, with the purpose of selling the event of all gamers within the innovation ecosystem by its Evolution Fund, Novum Capital Companions, a Swiss multi-family workplace by its buyers, and 360 Capital, a Paris- and Milan-based VC with utility A2A as one of many most important restricted companions. Additionally taking part within the spherical is the Japan Vitality Fund, a specialised local weather tech enterprise fund representing entities together with Biprogy, Enechange, Mitsui Sumitomo Belief Financial institution and Toshiba Vitality Programs. Sequence B contributors embody Elemental Excelerator, a US nonprofit investor centered on local weather tech.

This financing spherical brings the invested capital of Vitality Dome to round 54 million euros. The proceeds from this funding will allow Vitality Dome to enter full industrial scaling mode on a world foundation.

After the profitable closing, Claudio Spadacini, Founder and CEO of Vitality Dome, shared his message to the market: “Think about a system that may retailer renewable power with 75% RTE (AC-AC, MV- MV) and a price that’s half the price of lithium. A system that doesn’t degrade for 30 years and is made solely of metal, water and CO2. Now think about that that system is fabricated from current and well-known parts that the any energy plant operator can keep and function , and people parts will be deployed at GWh scale worldwide with out bottlenecks within the provide chain or particular web site limitations. When you like this concept, cease imagining . As a result of it’s true, the expertise is sorted. Our CO2 Battery™ is prepared for the market and, after closing the Sequence B spherical, we’re prepared to ensure its efficiency to any buyer who is actually about eradicating the fossil fuels and changing renewable power sources.

The Vitality Dome answer for long-term power storage has achieved an enthusiastic acceptance within the international market. Vitality Dome already works with many utilities, unbiased energy producers and company prospects in key markets, leading to a professional pipeline that exceeds 9GWh in markets such because the US, Europe, South America , India and Australia. The Firm’s short-term goal is to take care of the momentum gained to this point; Vitality Dome went from the beginning of operation to full commercial-scale deployment in simply three years and may have two commonplace 20MW-200MWh frames industrial operation by the tip of 2024. vital suppliers.

Extra in regards to the Spherical

With the participation of well-capitalized worldwide buyers, this Sequence B spherical will allow the additional commercialization of Vitality Dome’s expertise worldwide and help the enlargement of Vitality Dome’s crew in key markets, with a selected give attention to the US

Utilizing the proceeds of the spherical will serve to offer monetary ensures to prospects as an illustration that this crew is keen to place their “pores and skin within the sport” with their prospects in deploying the CO2 Battery™. The funding will even help the enlargement of the Vitality Dome enterprise within the US to benefit from the alternatives out there from the Inflation Discount Act and the related Funding Tax Credit out there for utility-scale power storage.

Concerning the Vitality Dome

The Vitality Dome revolutionizes power storage and prompts the decarbonization of the grid by making photo voltaic and wind energy out there 24/7. The corporate invented and developed the CO2 Battery™, a long-term power storage system that makes long-term power storage viable in at the moment’s world. The properties of carbon dioxide permit the power 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 parts from dependable, current provide chains, offering a approach to retailer giant quantities of renewable power and facilitate the transition to power. For extra info, please go to

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