As countries accelerate the shift toward renewable energy, one challenge continues to limit the full potential of wind and solar power: storing electricity for long periods. While renewable generation is increasing rapidly, existing battery technologies are primarily designed for short term energy storage, making it difficult to deliver stable, affordable power when renewable generation falls. Long duration energy storage is increasingly being recognised as a critical technology for building resilient electricity grids, supporting industrial decarbonisation, and powering the next generation of energy intensive applications. Dutch startup Ore Energy is addressing this challenge with an iron air battery technology designed to store renewable electricity for several days, and the company has now secured fresh funding to move toward large scale commercial production.
Ore Energy has raised $43 million in a Series A funding round to accelerate the commercialisation of its long duration energy storage technology.
The investment was led by Plural and HV Capital, with participation from Positron Ventures. The latest financing brings the company’s total funding to $61 million and will support manufacturing expansion as demand for long duration storage continues to grow.
Building Batteries for Multi Day Energy Storage
Ore Energy is developing iron air battery technology capable of storing electricity for up to 100 hours, providing significantly longer storage durations than conventional lithium ion battery systems.
The company believes long duration storage will play an increasingly important role in balancing renewable electricity generation by storing excess energy produced during periods of high wind or solar output and releasing it when demand increases or renewable production declines.
This capability can help improve grid reliability while supporting the wider adoption of renewable energy across Europe.
A Different Approach to Battery Materials
Unlike many battery technologies that depend on imported critical minerals, Ore Energy has built its storage system using iron, water, and air.
According to the company, these materials enable the batteries to be manufactured through a European supply chain while reducing dependence on raw materials such as lithium and cobalt.
This approach supports both supply chain resilience and Europe’s broader ambition to strengthen domestic clean technology manufacturing.
By using abundant and widely available materials, the company also aims to reduce production costs while improving long term scalability.
Supporting Europe’s Energy Transition
Long duration energy storage is becoming increasingly important as electricity systems integrate larger amounts of renewable generation.
Unlike traditional batteries designed for several hours of storage, Ore Energy’s technology can deliver electricity over multiple days, helping utilities manage fluctuations in renewable power generation.
The company believes this capability will become essential for supporting manufacturing, industrial operations, artificial intelligence infrastructure, and other sectors requiring stable and reliable electricity supplies.
Affordable renewable baseload power is expected to become a key driver of future economic growth, making long duration storage an increasingly valuable component of modern energy systems.
Commercial Momentum Builds
Alongside the funding announcement, Ore Energy highlighted a major commercial milestone through an agreement with Dutch energy supplier Budget Thuis.
The company says the partnership represents the largest long duration energy storage system agreement signed in continental Europe to date.
The project demonstrates growing market confidence in long duration battery technologies as utilities seek new solutions for managing renewable electricity at larger scale.
The newly secured investment will primarily be used to establish Ore Energy’s first manufacturing facility, enabling the company to transition from technology development toward commercial production.
Expanding the Future of Energy Storage
As governments and businesses continue investing heavily in clean energy infrastructure, demand for technologies capable of storing renewable electricity over extended periods is expected to rise significantly.
Long duration storage is increasingly viewed as an essential enabler of decarbonisation by improving grid flexibility, reducing reliance on fossil fuel backup generation, and supporting greater renewable energy penetration.
With fresh funding, a growing commercial pipeline, and plans to establish manufacturing capacity, Ore Energy is positioning itself as an emerging player in Europe’s clean energy sector. By combining abundant raw materials with innovative battery technology, the company aims to make long duration energy storage more affordable, scalable, and accessible while supporting the transition toward a more resilient and sustainable energy future.