Published by Todd Bush on February 16, 2022
February 16, 2022 10:52 AM Eastern Standard Time SUNNYVALE, Calif.--(BUSINESS WIRE)--Antora Energy has unlocked a solution to deliver zero-emissions heat and electricity to heavy industry that is more reliable than fossil fuels, and just as cheap, according to Antora Energy CEO Andrew Ponec. 'The manufacturing sector—including notoriously hard-to-decarbonize industries like cement, steel, and petrochemicals—accounts for a staggering 30% of global greenhouse gas emissions. Today, there aren't scalable solutions to clean up the major drivers of these emissions—heat and power from combusting coal and gas,' Ponec says. 'Partnering with Breakthrough Energy Ventures, Lowercarbon Capital, and our strong syndicate of other investors brings the resources and know-how to scale up our business and wipe out billions of tons of CO2 emissions per year.'
Additional investors include Shell Ventures, BHP Ventures, Grok Ventures, Trust Ventures, Overture VC, Impact Science Ventures, and existing investor Fifty Years VC.
Antora's thermal energy storage system soaks up inexpensive renewable electricity and stores it as high-temperature heat. This stored thermal energy can then be used directly to provide process heat up to 1500°C or converted back to electricity. In other words, Antora turns wind and solar into 24/7 power and heat and sets industry on a course to cheap, clean, around-the-clock energy.
Antora Energy has been developing their technology since being founded in 2018 with support from the Department of Energy, the California Energy Commission, the National Science Foundation, the Activate Fellowship, and private investors. With a recent Series A and previous funding under their belts, Antora will build out their first customer-sited projects and speed up hiring. 'We are building a diverse team of compassionate people who find joy in their work and are driven to stop climate change,' says Ponec.
'Clean energy storage for industrial heat and power will be a key enabler of tomorrow's zero carbon world. Antora Energy will have a major impact on lowering carbon emissions stemming from the manufacturing industry. We look forward to our partnership with Antora to help bring their critical new product to market,' said Carmichael Roberts, Breakthrough Energy Ventures.
Chris Sacca, Chairman at Lowercarbon Capital, said, 'Antora makes heat and electricity from solar panels cheaper than burning gas. That's lights out for fossil fuels.'
About Breakthrough Energy Ventures
Backed by many of the world's top business leaders, Breakthrough Energy Ventures (BEV) invests in cutting-edge companies that will lead the world to net-zero emissions. BEV has more than $2 billion in committed capital to support bold entrepreneurs building companies that can significantly reduce emissions from buildings, agriculture, transportation, electricity, and manufacturing. BEV's strategy links cutting-edge ideas with patient, risk-tolerant capital to bring transformative clean energy innovations to market as quickly as possible.
The first fund was created in 2016 as part of the Breakthrough Energy network of initiatives and entities, which include investment funds, nonprofit and philanthropic programs, and policy efforts linked by a shared commitment to scale the technologies needed to address climate change and achieve a path to net zero emissions by 2050. Visit www.breakthroughenergy.org to learn more.
About Lowercarbon Capital
Lowercarbon Capital backs kickass companies that make real money slashing CO2 emissions, sucking carbon out of the sky, and buying us time to heal the planet. For more information, visit: https://lowercarboncapital.com/.
About Antora Energy
Antora Energy is electrifying heavy industry with energy storage for clean heat and power. We make it possible and profitable to fully rely on renewable energy for industrial processes. Our technology eliminates the need to burn fossil fuels for heat and power, the biggest source of greenhouse gas emissions. We are growing our company with people who put team & mission first, value connection through laughter & joy, and build with humility & openness. Join our team and do the most fulfilling and impactful work of your life on climate change. Visit www.antoraenergy.com for more information.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside this Issue 💰 Cabot Corporation and Partners Selected for $5M in U.S. Department of Energy Grant to Support Continued Advancement of Global Hydrogen Economy ☀️ Eversource Energy Announces Ex...
Inside this Issue 🚌 Ballard Announces Orders for 70 Hydrogen Fuel Cell Engines for Delivery to Wrightbus in 2024 🏭 FuelPositive Announces Completion of Factory Acceptance Testing and Shipping of F...
Inside this Issue ⛽ Air Products Receives Funding to Build Two Large-Scale Hydrogen Refueling Stations in the Region of North-Rhine Westphalia Nordrhein Westfalen ✍️ VINCI Signs a Strategic Partne...
_Grant will support development of innovative, scalable manufacturing processes for producing carbon catalyst supports for fuel cells_ April 18, 2024 09:00 AM Eastern Daylight Time BOSTON--[C...
New Jersey Natural Gas to Reduce Fleet Emissions with Neste MY Renewable Diesel
WALL, N.J.--Expanding on its sustainability leadership, [New Jersey Natural Gas](https://njng.com) (NJNG), the principal subsidiary of New Jersey Resources (NYSE: NJR), **announced it is switching ...
Eversource Energy Announces Execution of Definitive Agreement with Ørsted to Sell Sunrise Wind
BOSTON & HARTFORD, Conn.--[Eversource Energy](https://www.eversource.com) (NYSE: ES) (“Eversource”) today announced it has finalized definitive documents regarding its previously announced agreemen...
_Fourteen private sector and university-led projects will support sustainable industrial practices that deliver economic opportunities and a healthier climate for U.S. communities and workers_ *...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.