The Anonymous Widower

Enery Dome Closes $11M Convertible Round To Accelerate Commercial Deployment Of CO2 Battery

The title of this post, is the same as that of this press release from Energy Dome.

When I first saw Energy Dome on the Internet, I thought they had something.

Energy Dome Secures Funding, Partner For New CO2 Energy Storage Projects was my first post about the company and this is an extract, from that post.

Note.

  1. It appears that Energy Dome has weaponised carbon dioxide against climate change.
  2. Providing 2.5 MW for over an hour and a half is an impressive performance.
  3. I think this project has the style we associate with Italy and Italians.

I have found their website at energydome.com and behind their energy storage system is unusual technology.

Their web site says this about their choice of storage medium.

CO2 is the perfect fluid to store energy cost effectively in a closed thermodynamic process as it is one of the few gases that can be condensed and stored as a liquid under pressure at ambient temperature. This allows for high density energy storage without the need to go at extreme cryogenic temperatures.

That is breathtakingly simple!

The main tank for the gaseous carbon dioxide is an inflatable dome and the liquid carbon dioxide is stored in steel tanks.

A turbine -compressor moves the carbon dioxide between gaseous and liquid states storing it appropriately.

It is very impressive! And I suspect extremely affordable!

This was the sub-heading of Tuesday’s press release.

Provider of long-duration energy storage completes convertible funding round co-led by CDP Venture Capital Sgr and Barclays and joined by Novum Capital Partners, ahead of planned Series B round.

This is the second time they have raised eleven million dollars to fund a project.

This paragraph from the press release outlines how the money will be used.

Energy Dome’s rapid technological development motivates the speed and frequency of the funding rounds. The Series A enabled the company to complete its 2.5MW / 4MWh commercial demonstration plant in Sardinia, Italy, the final step of technology de-risking. Energy Dome has begun the commercialization of the CO2 Battery. This latest bridge funding will allow the company to accelerate its development in advance of the Series B round by placing purchase orders for the long lead time turbomachinery equipment associated with its First of a Kind utility scale (20MW, 200MWh, 10-hour duration) energy storage projects. A Memorandum of Understanding for this first utility scale project has been signed with A2A, a major European utility, and the company is making strong progress on its commercial pipeline.

This is a company to watch.

 

July 1, 2022 - Posted by | Energy, Energy Storage |

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