Rondo Energy, a provider of zero-carbon industrial heat and power solutions, recently secured $60 million in new financing. The capital will help expedite the rollout of its Rondo Heat Batteries worldwide as it aims to transform the global energy storage market. Investors including Breakthrough Energy Ventures, Energy Impact Partners and Microsoft’s Climate Innovation Fund participated in the round.
The Alameda-based company works to equip policymakers and business leaders with an affordable and reliable solution for rapid decarbonization as shareholder pressure to deploy climate solutions increases.
Rondo’s technology is based on brick and iron wire, making it more cost-effective than storage solutions like green hydrogen and chemical batteries. Rondo’s materials also allow it to avoid some safety, durability and supply chain risks these alternate technologies often face. Its batteries capture low-cost renewable electricity to deliver high-temperature and high-efficiency energy storage.
