CO2 Battery company Energy Dome has won €17.5 million (US$18.5 million) in grant and equity financing from the European Innovation Council, the maximum amount available.
Energy Dome, an Italy-based company which has developed a novel CO2-based long-duration energy storage system, has closed an US$11 million bridge funding round.
A “novel and innovative” technology which uses CO2 as a medium to store energy could be made using off-the-shelf equipment and made available to the market as early as next year, the company behind it has said.
Almost 70% of home solar PV in Germany comes with battery energy storage attached and the country’s residential storage market represented around 2.3GWh of installed capacity by the end of 2020.
