Italian energy storage solutions startup Energy Dome closed its Series B round with $44M (€40M) in funding.
The firm, which has developed a "CO2 Battery" for storing renewable energy, intends to use the proceeds to commercialize its technology. It expects to have two 200 MWh frames operational by the end of 2024.
Italian energy company Eni's corporate VC arm Eni Next and Intesa Sanpaolo bank's VC division Neva SGR co-led the funding round.
- Barclays' Sustainable Impact Capital, CDP Venture Capital, Invitalia, Novum Capital Partners, 360 Capital, Japan Energy Fund, and Elemental Excelerator participated in the round.
- The firm has raised $59.5M (€54M) in total funding to date.
- Energy Dome claims it has "a qualified pipeline that exceeds 9 GWh" from power producers and corporations across the U.S., Europe, South America, India, and Australia.
