Business Wire

Energy Dome Successfully Launches First CO2 Battery Long-Duration Energy Storage Plant in the World

Share

Energy Dome, a leading provider of utility-scale long-duration energy storage, today announced the successful launch of its first CO2 Battery facility in Sardinia, Italy. This milestone marks the final de-risking of the CO2 Battery technology as Energy Dome enters the commercial scaling phase, becoming the first commercial long-duration energy storage technology on the market offering a reliable alternative to fossil fuels for dispatchable baseload power globally.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220607006330/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Energy Dome's CO2 Battery facility in Sardinia, Italy (Photo: Business Wire)

The initial phase of operations has confirmed the performance of the CO2 Battery and its capability of storing energy for a long duration, all while maintaining highly competitive round-trip efficiency, without degradation or site dependency. The Sardinia demonstration project has proven this innovative process using off-the-shelf equipment available from a globally established supply chain, demonstrating that the rapid global deployment of the CO2 Battery is now possible with no bottlenecks.

“I am proud of our dedicated team and of our results. We can now provide an answer to the most pressing issue of our time: climate change,” said Energy Dome Founder and CEO Claudio Spadacini. “Our breakthrough technology, the CO2 Battery, is now commercially available to make cost-effective renewable energy dispatchable on a global scale.”

Energy Dome’s CO2 Batteries can be quickly deployed anywhere in the world at less than half the cost of similar-sized lithium-ion battery storage facilities, and use readily available materials, such as carbon dioxide, steel and water. Energy Dome is now preparing for its first full-scale 20MW-200MWh plant. Its first commercial project, Commercial Operation Date, is expected to be deployed by the end of 2023.

Energy Dome began its operations in February 2020 and has progressed from a concept to full testing at multi-megawatt scale in just over two years. To achieve this, Energy Dome has tapped a team of experts in turbomachinery, process engineering and energy, with a proven track record in ventures designing novel turbines and building over 500MW of energy projects. This successful launch is also in part due to the unique nature of Energy Dome’s process, which integrates known components in a novel industrial process based on a thermodynamic transformation of CO2.

The company has already secured multiple commercial agreements, including with an Italian utility A2A for the construction of a first 20MW-5h facility. 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.

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.

About Energy Dome

Energy Dome is an energy storage solution provider that is unlocking renewable energy by making solar and wind power dispatchable using the CO2 Battery. Led by a team with a track record of innovation in the energy sector, Energy Dome’s low-cost energy storage technology helps accelerate the global transition to renewable energy by enabling greater penetration of renewables on the grid. In 2022, the company won the prestigious BloombergNEF Pioneers competition under the category “providing round-the-clock zero-emissions power." For more information, please visit www.energydome.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Cassandra Sweet
Antenna for Energy Dome
energydome@antennagroup.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Senior Worldfirst Executive Joins UK Fintech Storfund29.6.2022 09:00:00 CEST | Press release

After a six month search, Storfund has appointed Worldfirst’s former Global Head of Enterprise, Oliver Whelan, as its Chief Revenue Officer. Whelan, who spent almost a decade at payments fintech Worldfirst, will be responsible for accelerating Storfund’s rapid and profitable growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220629005094/en/ Oliver Whelan, Chief Revenue Officer (Photo: Business Wire) Available in 20 countries on the world’s biggest marketplaces, including Cdiscount, Back Market, PcComponentes, Fyndiq and Amazon, Storfund is one of the UK’s fastest growing fintechs. But what’s more remarkable in an industry obsessed with scaling loss-making operations, Storfund has achieved this growth whilst turning a profit. The founders took the decision to fund growth from revenue rather than external capital, believing this would create an impact-driven culture: growth would only come if clients saw that its service

Alliance of Tech Founders Line up to Invest in the Next Generation of Global Innovators With $158m Series C Funding Round for Entrepreneur First29.6.2022 08:00:00 CEST | Press release

Entrepreneur First (EF), a scaleup investor in early stage founder talent, has raised a $158m Series C funding round from a group of veteran technology founders, including Patrick and John Collison, Reid Hoffman, Taavet Hinrikus and Matt Mullenweg. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220628005653/en/ Entrepreneur First co-founders Alice Bentinck and Matt Clifford (Photo: Business Wire) Bucking the trend of mounting layoffs and diminishing venture capital volumes across the startup world, owing to fears of a looming recession, the host of successful entrepreneurs and founders are backing EF to unlock opportunities for a diverse set of new global founders. EF’s impressive global roster of backers includes , John and Patrick Collison (co-founders of Stripe), Taavet Hinrikus (co-founder of Wise), Reid Hoffman (co-founder of LinkedIn), Matt Mullenweg (co-founder of Wordpress), Tom Blomfield (co-founder of Monzo and GoC

Mavenir Supports Provision of National Public Warning Systems in Germany and the United Kingdom29.6.2022 08:00:00 CEST | Press release

Mavenir, the Network Software Provider building the future of networks with cloud-native software that runs on any cloud and transforms the way the world connects, today announced it is working closely with four tier one Mobile Network Operators (MNOs) across Germany and the United Kingdom to deliver Cell Broadcast (CB) functionality. CB, a technical specification maintained by 3GPP, is a method of sending messages to multiple mobile telephone users in a defined area at the same time. Mavenir is committed to supporting government agencies and MNOs in delivering high-quality alert and warning systems for use in times of national emergencies, natural disasters such as flash floods, wildfires or earthquakes, terrorist attacks or public unrest. Brandon Larson, Senior Vice President and General Manager of Mavenir’s Multimedia Business Unit said, “The floods experienced in western Germany July 2021, became one of the region's worst natural catastrophes in recent generations. Such unprecedent

Ipsen Announces U.S. FDA Priority Review for palovarotene New Drug Application in Patients With Fibrodysplasia Ossificans Progressiva Following Resubmission29.6.2022 07:00:00 CEST | Press release

Regulatory News: Ipsen (Euronext: IPN; ADR: IPSEY) today announced that the U.S. Food and Drug Administration (FDA) has accepted for Priority Review its resubmitted New Drug Application (NDA) for investigational palovarotene for the treatment of patients with fibrodysplasia ossificans progressiva (FOP), an ultra-rare genetic disorder. Ipsen is seeking approval of palovarotene, an oral, selective retinoic-acid receptor gamma (RARγ) agonist for the prevention of heterotopic ossification (HO; new bone formation outside of the normal skeletal system). The FDA has assigned 29 December 2022 as the Prescription Drug User Fee Act goal date, which is on track with anticipated regulatory submission timelines. “This FDA submission acceptance marks a significant milestone for those living with FOP in the U.S. where no approved treatment options exist today for this progressive and debilitating ultra-rare genetic disorder,” said Dr. Howard Mayer, Executive Vice President and Head of Research and De

The LYCRA Company Announces New Equity Ownership29.6.2022 01:49:00 CEST | Press release

The LYCRA Company, a global leader in developing innovative fiber and technology solutions for the apparel and personal care industries, today announced that a group of financial institutions, comprising Lindeman Asia, Lindeman Partners Asset Management, Tor Investment Management, and China Everbright Limited (“New Shareholders”), have gained full equity control of the Company. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220628005988/en/ The LYCRA Company announces new equity ownership. Current management team led by CEO Julien Born continues to run business with full shareholder support. (Photo: Business Wire) The change of equity control follows the conclusion of the receivership process that started in February when the New Shareholders initiated an enforcement action against Ruyi Textile and Fashion International Group Limited, the former parent of The LYCRA Company, for loan defaults associated with its purchase of T