The world’s first CO2 battery for long-duration energy storage is being commercialized (update)

Italian startup Energy Dome has now begun to commercialize the world’s first CO2 Battery, which was launched earlier this month in Sardinia, Italy. The battery uses carbon dioxide to store renewable energy on the grid, and Energy Dome says the technology can be quickly deployed anywhere in the world.

June 28 update: Energy Dome today announced that it has secured $11 million in bridge funding, which will enable it to buy equipment for a 20-megawatt/200-megawatt-hour/10-hour duration facility for Italian utility A2A, with which it has a memorandum of understanding.

The Evolution Fund of asset management company CDP Venture Capital Sgr, together with existing investor Barclays, led the convertible funding. Swiss family office Novum Capital Partners, an existing shareholder in Energy Dome, also joined the round.

With the closing of this latest convertible round, Energy Dome has now raised a total of nearly $25 million since the company emerged from stealth mode in February 2020. Its series B round is planned for later in 2022.

World’s first CO2 Battery

Energy Dome sited the CO2 Battery in Sardinia to favor speed to market and ease of execution, as it’s in an industrial area with an existing electrical connection. Further, Sardinia currently uses coal, but the fossil fuel will be phased out by 2025. The battery can be paired with both wind and solar.