Antora Energy closes $550M Series C for thermal batteries; eyes 2nd U.S. manufacturing hub

<cite index="43-1,43-2">Antora Energy, a leading U.S. energy storage company, announced closing on $550 million in Series C funding. The oversubscribed round was co-led by G2 Venture Partners and Eclipse, with participation from new investors including Ribbit Capital, Salesforce Ventures, Activate Capital, John Doerr, Westly Group, StepStone Group, and Liberty Mutual Strategic Ventures, plus existing investors including Decarbonization Partners, Breakthrough Energy Ventures, and Lowercarbon Capital</cite>.

<cite index="43-3">The announcement comes on the heels of the company's deployment of one of the largest battery storage projects in the world, a 5 gigawatt-hour system in South Dakota that advanced from initial construction to delivering energy in under 12 months</cite>. <cite index="43-3,43-4">Antora's thermal batteries store low-cost electricity as heat in insulated blocks of solid carbon and deliver it around the clock as heat or power, meeting surging energy demand from large new loads without raising costs for consumers</cite>.

<cite index="43-2">The Series C will accelerate deployment of large-scale projects across the country, enable Antora to expand production and establish a second U.S. manufacturing hub</cite>. For infrastructure investors: <cite index="49-2">cleantech venture investment has been relatively modest in recent years, and Antora's raise marks one of the sector's largest this year</cite>—a signal that late-stage capital is concentrating on proven technologies addressing immediate AI data-center energy demand. <cite index="45-3">Antora is working with utilities across the country to develop similar rate structures for future projects, pioneering an electricity tariff that rewards Antora for charging during periods of surplus local renewable energy production</cite>.