Carbon dioxide reaches a liquid state when compressed and it expands with a pop when released, and now the Italian startup Energy Dome is ready to harness the action for a new energy storage system.
Why did Energy Dome build a CO2 battery in Sardinia?
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.
What is energy dome doing with Ansaldo Energia?
Earlier this year, Energy Dome also signed a non-exclusive license agreement with Ansaldo Energia, a major provider of power generation plants and components, to build long-duration energy storage projects in Italy, Germany, the Middle East and Africa.
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Edouard Neviaski, CEO of ENGIE's business entity 'Global Energy Management & Sales', said: “ENGIE is thrilled to partner with Energy Dome on this groundbreaking energy storage project. This collaboration highlights our unwavering commitment to developing sustainable and flexible solutions that drive the energy transition.
What is energy dome doing with $11 million?
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.
Energy Dome's plan is backed by investors including European deeptech venture capital firm 360 Capital, Barclays, Novum Capital Partners and Third Derivative. To fund the rapid commercial scale-up, Energy Dome plans to launch its Series B fundraising round for prospective investors interested in its groundbreaking energy storage technology.