A clean-energy startup focused on long-duration grid storage has closed a €50 million Series B funding round, with participation from two sovereign climate investment funds and several industrial conglomerates seeking to decarbonise their operations.
The company’s iron-air battery technology promises storage durations of up to 100 hours at a fraction of the cost of lithium-ion alternatives, a key requirement for managing the intermittency of wind and solar generation at scale.
Proceeds will fund the construction of a pilot grid-scale installation in northern Germany, expected to be operational by early next year.
