How did the commercial scale of the CO2 Battery in Sardinia come about, and what role did the Breakthrough Energy Catalyst and EU partnerships play?
The full-scale CO2 Battery in Sardinia represents a significant milestone for Energy Dome, and our partnership with Breakthrough Energy Catalyst, along with the EU, has been crucial to this development. Last year in Dubai, we showcased our long-duration energy storage technology, which is both deep-tech and capital-intensive. To transform this innovation into a viable product, significant investments are needed, and large utilities, often conservative, require proof of both technical and business viability before committing.
The funding we secured, including blended finance from Breakthrough Energy Catalyst and the European Investment Bank, allowed us to make those critical early investments. This was essential not only to demonstrate the technology’s efficiency but also to prove that the business case holds up. In Sardinia, for example, we’re building a full-scale commercial plant and have already secured an offtake agreement with a large utility, demonstrating the economic viability of the energy storage service we offer. Once this is proven, we expect widespread deployment and impactful adoption of our technology.
How does the CO2 Battery differ from lithium-ion batteries in terms of operation and benefits?
The CO2 Battery operates very differently from lithium-ion batteries, though both serve the purpose of energy storage. Our technology is based on a thermomechanical process that compresses and liquefies CO2 when energy storage is required. When electricity is needed, the CO2 is re-evaporated and expanded to supply power back to the grid. The unique property of CO2, which allows it to liquefy at ambient temperature under pressure, makes it ideal for this application. This feature allows us to store energy efficiently while using readily available, off-the-shelf components without relying on rare or exotic materials.
Unlike lithium-ion batteries, our CO2 Battery is not dependent on rare earth elements, and we leverage existing industrial components, particularly from the oil and gas sector, making our system more cost-effective. Even in today's highly subsidized lithium-ion market, particularly in China, we are already more competitive. As we scale to gigawatt-hour capacity, we anticipate our capital expenditures (capex) to be 40% lower than those of lithium-ion systems, positioning us as a strong alternative for long-duration energy storage.
You've had a successful Series B funding round. What are your plans for commercial expansion with that funding?
Our Series B funding has been instrumental in expanding Energy Dome's global footprint. We see a universal need for long-duration energy storage across multiple continents. Currently, our project pipeline exceeds 10 gigawatt-hours, and this demand spans regions including North America, Europe, South America, India, Australia, and Chile. Of that pipeline, 1 gigawatt-hour has already passed environmental assessments and is ready for authorization. The overarching challenge of decarbonizing industries is a global one, and our technology offers a key solution by pairing renewable energy with long-duration storage capabilities.
The Series B funding has been used to expand our team globally. We now have a presence in Europe, the U.S., Chile, and Australia, which has allowed us to scale our pipeline and prepare for the commercial phase of our technology. Our first full-scale commercial project is on track for completion by the end of this year, with operations expected to begin in Q1 2025. This will mark a major turning point as we move from development to widespread deployment.
Tell me about your collaboration with MAN Energy Solutions and how it fits into your expansion strategy.
Our collaboration with MAN Energy Solutions is one of the key partnerships supporting the expansion of the CO2 Battery. The beauty of our technology lies in the fact that it relies on existing, off-the-shelf components, and MAN is a leading supplier of the turbo machinery required for our process. Their involvement strengthens our credibility and gives our potential customers, such as large utilities, additional confidence in the reliability of the technology.
After months of engaging as a typical supplier-buyer relationship, we entered into a non-exclusive commercial cooperation aimed at boosting the deployment of the CO2 Battery in specific markets. MAN’s recognition of the CO2 Battery’s potential as a solution for long-duration energy storage signals the scalability and viability of our technology. This partnership enhances our ability to meet global energy demands while ensuring reliability and sustainability for our customers.
What materials are used in the construction of the energy storage domes, and how do you ensure they are sustainably sourced?
The construction of the CO2 Battery domes primarily involves steel ropes, which bear the internal pressure of the dome, and a PVC-based membrane that protects the internal storage of CO2. These materials are carefully selected to ensure recyclability. Although the dome is large in volume, the materials used represent a small portion of the overall plant’s capital expenditure, less than 5% in terms of weight and cost.
Sustainability is at the core of our sourcing strategy. The membrane is fully recyclable, which was a critical factor in our selection process. Although the dome is a visually significant part of the CO2 Battery, the volume of materials used is minimal, and their recyclability ensures that we maintain a low environmental impact. We continuously assess our material choices to align with our sustainability goals and contribute to the circular economy.
Do you see your CO2 Battery as a viable replacement for fossil fuel-based energy storage systems?
Yes, the CO2 Battery can certainly replace fossil fuel-based energy storage systems, though it is not a complete solution on its own. For scenarios requiring up to 20 hours of energy storage, our technology provides a highly effective solution for renewable energy integration. However, for extreme cases, such as prolonged weather disruptions lasting weeks, a hybrid solution is necessary. This would involve a mix of renewable energy, long-duration storage like ours, and hydrogen or hydrogen-derived fuels to ensure an uninterrupted power supply.
In my view, the future of energy storage will involve a blend of technologies, including renewable energy storage, hydrogen, and perhaps nuclear, working together to achieve net-zero carbon emissions. The CO2 Battery will play a crucial role in decarbonizing the energy grid, but it must be part of a broader mix to fully address the challenges of transitioning away from fossil fuels.
What is your vision for the global impact and future of Energy Dome?
Energy Dome started as a bold idea four years ago, and at the time, many saw it as unconventional or even risky. But this is often the case with groundbreaking innovations—just like the early days of wind and solar power.
Now, as we scale up, I see the CO2 Battery becoming a symbol of the transition to a decarbonized world, much like wind turbines have become synonymous with renewable energy.
My vision is that, in the future, Energy Dome’s technology will be a fundamental part of the renewable energy landscape. I hope that our domes will be seen beside wind turbines and solar panels, serving as a visual and technological representation of our contribution to a greener, more sustainable society. Our goal is to be a major player in the global shift towards net-zero energy and to leave a lasting positive impact on the planet.
