Antora Energy Raises $550 Million to Expand Thermal Battery Deployment
Antora Energy has closed a $550 million Series C funding round to expand manufacturing and deployment of its thermal battery technology in the United States. The funding will support the company’s efforts to scale energy storage systems designed for industrial applications and growing electricity demand from sectors such as data centres.
The financing round follows the company’s development of thermal energy storage (TES) systems that store electricity as heat and can later deliver energy for industrial processes. Unlike conventional electrochemical batteries, Antora Energy’s technology uses heat storage to provide long-duration energy storage capabilities.
The company has been developing systems aimed at reducing reliance on fossil fuels in industries that require high-temperature heat. Its technology stores energy in solid carbon materials heated using electricity and can later release stored energy as heat or convert it back into electricity.
The new investment comes as Antora Energy moves toward larger-scale commercial deployment. The company is commissioning a 5 GWh thermal energy storage system at a POET bioprocessing facility in South Dakota, one of its largest announced projects to date.
The Series C funding is expected to support further manufacturing expansion and deployment of thermal battery systems for industrial customers and energy-intensive facilities across the US.
Source: energy-storage.news
