Energy Dome unveils the world’s first CO2 battery facility in Sardinia, Italy
Energy Dome has announced the successful launch of the company's first CO2 battery facility in Sardinia, Italy. With this milestone, the final step of risk elimination of CO2 battery technology is completed. Energy Dome is now entering the commercial-scale phase, making it the first commercial long-term energy storage technology on the market that offers a reliable alternative to fossil fuels for base load provision worldwide.
The first stage of operation confirmed the CO2 battery's performance and its ability to store energy for long periods, all while maintaining a highly competitive return efficiency, with no downturn or location dependency. The demonstration project in Sardinia has proven the usefulness of this innovative process using turnkey equipment available worldwide, showing that rapid global deployment of the CO2 battery is possible without much difficulty.
"I am proud of our dedicated team and our results. We now have an answer to the most pressing problem of our time: climate change," said Claudio Spadacini, founder, and CEO of Energy Dome.
"Our breakthrough technology, the CO2 battery, is now commercially available to make cost-effective renewable energy available worldwide."
Energy Dome's CO2 batteries can be rapidly deployed anywhere in the world at less than half the cost of comparable sized lithium-ion battery storage facilities. They use readily available materials such as carbon dioxide, steel, and water. Energy Dome is currently working on the first full-scale installation of 20 MW-200 MWh. The first commercial project is expected to be deployed for commercial use by the end of 2023.
Energy Dome began operations in February 2020 and has completed a full multi-megawatt-scale test facility just over two years from conception. To achieve this, Energy Dome has employed a team of experts in turbomachinery, process engineering, and energy, with a proven track record of designing new turbines and building more than 500 MW of energy projects. This successful introduction is also partly due to the uniqueness of the Energy Dome process, which integrates well-known components into a new industrial process based on the thermodynamic transformation of CO2.
The company has already signed several commercial agreements, including an agreement with Italian utility company A2A for the construction of an initial 20 MW-5h plant. Earlier this year, Energy Dome also signed a non-exclusive licensing agreement with Ansaldo Energia, a major supplier of power plants and components, to build long-term energy storage projects in Italy, Germany, the Middle East, and Africa.
Energy Dome's plan is backed by investors including European Deep Tech venture capital firm 360 Capital, Barclays, Novum Capital Partners, and Third Derivative.
To fund the rapid commercial scaling up, Energy Dome plans to launch a Series B fundraising round for potential investors interested in its breakthrough energy storage technology.