European Multi-Day Energy Storage Startup Ore Energy Raises US$43 Million in Series A
The Amsterdam startup will use the funding to build its first factory and begin a 400 MWh first phase of the 1 GWh rollout, the companies said.
- Amsterdam-Based Ore Energy raised $43 million in Series A funding and signed a 1 GWh iron-air battery deployment agreement with Dutch utility Budget Thuis, marking the largest such deal in continental Europe.
- Designed to store renewable electricity for up to 100 hours, the batteries use iron, water, and air to help grid operators fill multi-day generation gaps when wind and solar power drop.
- Ore Energy will establish its first manufacturing facility using the new funding, targeting gigawatt-scale production by 2028 to support commercial deployment of the 400 MWh initial phase.
- Budget Thuis CEO Annemarie Buitelaar said the partnership helps reduce exposure to "volatile fossil fuel prices," with the initial 400 MWh phase planned for delivery in 2028.
- Ore Energy CEO Aytac Yilmaz emphasizes the technology provides "affordable, reliable baseload power" for AI data centers and Europe's next industrial age, positioning iron-air as essential infrastructure.
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Amsterdam startup Ore Energy raises $43 million to build iron-air batteries that store power for days
Ore Energy raised $43 million in Series A funding to scale iron-air batteries that store renewable electricity for up to 100 hours using iron, water and air
The Delft-based start-up Ore Energy has raised 38 million euros in investments today, reports the FD. With the invested capital, the start-up plans to build its first factory for iron-air batteries. These special batteries are almost as large as a shipping container and can store energy for more than one hundred hours. This is significantly longer than lithium batteries, which can only store energy for about four to eight hours.
To address the challenge of storing electricity generated when there is no sun or wind this challenge, Dutch startup Ore Energy has closed a $43 million Serie A funding round (about €39.5 million), led by venture capital funds Plural and HV Capital, with the participation of Positron Ventures. This operation raises the total funds raised by the Amsterdam-based firm to over $61 million.
Ore Energy funds first iron-air battery factory
Ore Energy has raised $43 million in Series A funding to establish its first manufacturing facility and prepare its iron-air battery technology for gigawatt-hour-scale production in 2028. Plural and HV led the round, with existing investor Positron Ventures participating, taking the Dutch company’s total funding above $61 million. The proposed factory is intended to validate manufacturing at scale rather than add another laboratory line. Ore Ene…
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