Energy Dome, a Milan, Italy-based provider of CO2 Battery as long-duration energy storage solution, has been awarded €17.5 million in funding.
The award came from the European Innovation Council, through the EIC Fund.
The company intends to use the funds to accelerate the scale up of its business and the deployment of CO2 Batteries across global markets.
Led by CEO Claudio Spadacini, Energy Dome invented and developed the CO2 Battery, a Long-Duration Energy Storage system that makes Long Duration Energy Storage viable globally. The properties of carbon dioxide allow the system to store energy efficiently and cost-effectively, with a modular and site-independent footprint. CO2 Batteries use readily available components from reliable and existing supply chains, providing a pathway to store massive amounts of intermittent renewable energy and accelerate the energy transition.
EIC Fund, an entity owned by the European Commission to make grants and direct equity investments in companies with promising cleantech solutions, joined other strategic investors, including Barclays, 360 Capital, CDP Venture Capital SGR and Novum Capital Partners, that have invested a total of $25m in Energy Dome.
FinSMEs
02/01/2023