Energy Dome Receives $44 Million Investment

Energy Dome, which works in the renewable energy sector, announced that it received 44 million dollars in Series B investment round. Eni Next led this investment round for the Italy-based startup. Japan Energy Fund, Neva SGR, CDP Venture Capital, Elemental Excelerator, 360 Capital, Sustainable Impact Capital, Novum Capital Partners and Invitalia also participated in the Series B investment round. The company, which started operations in 2020, raised $11 million in Series A funding in 2021.

Also See: HIVED Receives €11.2 Million Investment

Energy Dome Develops Batteries to Store Electrical Energy

Energy Dome was launched in 2020 by Claudio Spadacini. The startup develops batteries that enable the storage of electrical energy from renewable energy sources. The battery technology is based on the use of carbon dioxide to store energy. The key feature of carbon dioxide is that it only stores energy at high density, without the need for extremely low temperatures. In order to charge the batteries, it is enough to take carbon dioxide at a pressure and temperature close to the atmosphere and compress it.

The Italian startup said it has launched its first carbon dioxide battery in Sardinia. The company aims to minimize the difference between energy demand and supply. In this way, it will also provide efficiency from the energy system used. In other words, it aims to save energy.

As we all know, Russia declared war on Ukraine in 2022. As a result, an energy crisis emerged in Europe. We can say that the climate crisis is a problem that has been threatening the world for almost 100 years. Therefore, every carbon dioxide (CO₂) released into the air (over 35 billion tons) makes sustainable energy sources critical. Recently, studies on sustainable energy sources have increased in Europe.