Rondo Energy, an Alameda, CA-based provider of zero-carbon industrial heat and power, raised $60M in funding.
The round saw participation from Breakthrough Energy Ventures, Energy Impact Partners, SCG, and TITAN, Microsoft’s Climate Innovation Fund, Rio Tinto, SABIC, Aramco Ventures, SDCL Energy Efficiency Income Trust (SEEIT) and John Doerr.
The company intends to use the funds to grow its international operations and to develop and build storage projects around the world.
Led by CEO John O’Donnell, Rondo Energy provides a heat battery that captures low-cost renewable electricity and delivers high temperature, high efficiency energy storage of any kind, enabling customers to power their operations with zero-carbon energy.
In 2023, the company began operations of its first commercial unit, lowering the carbon intensity of biofuel produced by Calgren Renewable Fuels. In addition, in partnership with Siam Cement Group (SCG), Rondo announced current Heat Battery storage production capacity of 2.4GWh/year, with plans to reach 90GWh/year.
FinSMEs
16/08/2023