Antora Energy, a Sunnyvale, CA-based solution to deliver zero-emissions heat and electricity to heavy industry that is more reliable than fossil fuels, raised over $50m in funding.
Backers included Breakthrough Energy Ventures, Lowercarbon Capital, Shell Ventures, BHP Ventures, Grok Ventures, Trust Ventures, Overture VC, Impact Science Ventures, and existing investor Fifty Years VC.
The company intends to use the funds to build out its first customer-sited projects and speed up hiring.
Led by CEO Andrew Ponec, Antora Energy has advanced a thermal energy storage system that soaks up inexpensive renewable electricity and stores it as high-temperature heat. This stored thermal energy can then be used directly to provide process heat up to 1500°C or converted back to electricity.
The company has been developing their technology since being founded in 2018 with support from the Department of Energy, the California Energy Commission, the National Science Foundation, the Activate Fellowship, and private investors.
FinSMEs
16/02/2022