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Ore Energy secures $43 million Series A to scale iron‑air batteries
Amsterdam‑based startup Ore Energy announced a $43 million Series A financing round, bringing its total funding to $61 million. The round was led by Plural and HV Capital with participation from Positron Ventures. Founded in 2023 by Aytac Yilmaz, Rutil Ozdemir and Yaiza Gonzalez Garcia, the company develops iron‑air battery systems that store renewable electricity for up to 100 hours using only iron, water and air, avoiding lithium and cobalt.
The funding will be used to build the first European manufacturing plant and to reach gigawatt‑hour‑scale production by 2028. Ore Energy has already completed pilot projects at Delft’s Green Village and at EDF Lab les Renardières in France, and it signed a 1 GWh off‑take deal with Dutch energy‑telecom provider Budget Thuis, with an initial 400 MWh delivery planned for 2028. The technology aims to provide multi‑day storage for the grid, AI data centres and industrial facilities, reducing curtailment of wind and solar power and lowering reliance on fossil fuels.
Entities
Aytac Yilmaz · Aytaç Yılmaz · Budget Thuis · HV Capital · Ore Energy · Plural · Rutil Özdemir · Yaiza Gonzalez Garcia
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 4 SOURCES] Iron‑air batteries can store renewable electricity for up to 100 hours. www.deltaenergie.it · egirisim.com · webrazzi.com · thenextweb.com
- [● 2 SOURCES] Ore Energy's total funding reached $61 million after the round. www.deltaenergie.it · thenextweb.com
- [● 4 SOURCES] The batteries use only iron, water and air, avoiding lithium and cobalt. www.deltaenergie.it · egirisim.com · webrazzi.com · thenextweb.com
- [● 4 SOURCES] Pilot projects were completed at Delft’s Green Village and at EDF Lab les Renardières in France. www.deltaenergie.it · egirisim.com · webrazzi.com · thenextweb.com
- [● 4 SOURCES] Ore Energy plans to build its first manufacturing facility and achieve gigawatt‑hour‑scale production by 2028. www.deltaenergie.it · egirisim.com · webrazzi.com · thenextweb.com
- [● 4 SOURCES] Ore Energy signed a 1 GWh off‑take agreement with Dutch utility Budget Thuis, with an initial 400 MWh delivery slated for 2028. www.deltaenergie.it · egirisim.com · webrazzi.com · thenextweb.com
- [● 4 SOURCES] Ore Energy raised $43 million in a Series A funding round. www.deltaenergie.it · egirisim.com · webrazzi.com · thenextweb.com
- [● 4 SOURCES] The Series A round was led by Plural and HV Capital, with participation from Positron Ventures. www.deltaenergie.it · egirisim.com · webrazzi.com · thenextweb.com