A “novel and innovative” technology which uses CO2 as a medium to store energy could be made using off-the-shelf equipment and made available to the market as early as next year, the company behind it has said.
Energy Dome, a startup headquartered in Italy, has raised US$11 million in a Series A funding round and entered a Memorandum of Understanding (MoU) regarding the first commercial deployment of its CO2 Battery with one of its investors.
Claiming the technology’s optimal application is for daily charging and discharging of energy with storage durations of between four and 24 hours, Energy Dome’s first demonstration system is being built in Sardinia, southern Italy
The Series A funding will be used to complete the 2.5MW / 4MWh demonstration project, Energy Dome said yesterday, as well as to accelerate growth of the business, founded in 2019 by the CO2 Battery’s inventor, entrepreneur Claudio Spaccini. The demonstrator is going to be finished and tested during the first quarter of 2022, according to Energy Dome.
Italian renewable energy and utility services company A2A participated in the fund raise via partnership with the round’s lead investor, tech VC firm 360 Capital. A2A and Energy Dome have signed the MoU for a proposed 100MWh project.