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Energy Dome gets $44M uplift into its CO2 battery for renewable energy storage

Variety

27-04-2023 | 08:19

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Energy Dome gets $44M uplift into its CO2 battery for renewable energy storage

Italian climate startup Energy Dome, which has developed a “CO2 Battery” for storing renewable energy, has closed a €40 million (~$44M) Series B round — bringing the total raised for its novel energy storage solution to €54M (or just shy of $60M).

The round was co-led by Eni Next, the corporate VC arm of Italian energy giant Eni; along with Neva SGR, the VC company owned by European banking group Intesa Sanpaolo. Existing investors also participated, including Barclays’ Sustainable Impact Capital, CDP Venture Capital, Invitalia, Novum Capital Partners and 360 Capital. Other investors in the round include Japan Energy Fund and Elemental Excelerator.

We last covered the 2020-founded startup when it closed an $11M Series A back in 2021 — explaining that its system uses CO2 in a closed-loop cycle to store energy generated from renewable sources (such as solar).

Energy Dome

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