Energy Dome, to support the implementation of its CO2 Battery, receives 17,5 million euros from the European Innovation Council.
Energy Dome, the maker of the CO2 Battery, a revolutionary long-life energy storage solution, announces that it has secured a €17.50 grant from the European Innovation Council (EIC). million euros, the largest amount ever allocated by the programme.
The EIC Accelerator is Europe’s flagship funding program for identifying, subsidizing and scaling up breakthrough innovations in strategic areas, such as energy storage. The investment will be made through the EIC Fund, an exclusive entity owned by the European Commission which works to award grants and direct shareholdings in companies offering promising cleantech solutions.
Energy Dome was selected through an extremely competitive process from over 1,000 companies that submitted a complete application.
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Claudio Spadacini, founder and CEO of Energy Dome, said:
Thanks to this strategic support from the European Commission, Energy Dome will be able to accelerate the expansion of the activity and implement the CO2 Battery in the world markets.
Long-term energy storage is the missing link for the full decarbonisation of the energy market, because it increases grid flexibility and integrates renewables safely and efficiently into global electricity grids.
There is currently a significant technological gap in the market, and the CO2 Battery represents the ideal solution because it provides highly efficient energy storage, at a competitive cost and with the use of already available and ready-to-use components, which make this technology usable for global customers.
The EIC Fund joins other strategic investors such as Barclays, 360 Capital, CDP Venture Capital SGR and Novum Capital Partners, who have invested a total of 25 million US dollars in Energy Dome, to finance the company’s growth in its mission : making the energy transition possible.
About Energy Dome
Energy Dome is revolutionizing the energy storage sector and makes it possible to decarbonise the grid thanks to the continuous availability of solar and wind energy. The company invented and developed the CO2 Battery, a long-term energy storage system that immediately makes sustained energy storage possible worldwide.
The properties of carbon dioxide allow the system to efficiently and cost-effectively store energy in a modular, site-independent footprint. CO2 Batteries use off-the-shelf, off-the-shelf standard components from existing, trusted supply chains, and offer a pathway to store massive amounts of intermittent renewable energy and accelerate the energy transition.www.energydome.com .
The original text of this announcement, written in the source language, is the official version which is authentic. Translations are offered solely for the convenience of the reader and must refer to the text in the original language, which is the only legally valid one.
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Energy Dome, a supporto dell’implementazione della sua CO2 Battery, ottiene 17,5 milioni di euro dal Consiglio europeo per l’innovazione, Milano, December 22, 2022
