We have joined decarbonization and electrification investment leaders Breakthrough Energy Ventures and Energy Impact Partners in supporting Rondo Energy (“Rondo”) through its recent Series A financing round.
The round supports Rondo’s scale-up of its innovative “heat battery” technology, aiming to provide new solutions for decarbonizing power generation and heavy industry, including cement manufacturing. The Rondo Heat Battery uses established industrial technologies to transform renewable electricity into heat at 98% efficiency, exhibiting high scalability potential that is cost competitive to current energy storage methods.
In addition to supplying heat at temperatures of up to 1,500°C, the modular battery can store renewable energy generated during off-peak hours, ensuring grid load flexibility and achieving additional greenhouse gas emissions savings. Our Group will work in a technological partnership with Rondo to develop new concepts for decarbonizing industrial production, including cement, combining our significant expertise on sustainable and digital manufacturing with Rondo’s unique innovation in industrial decarbonization. Through this partnership we are looking forward to working together towards carbon neutrality in cement production and to playing a leading role in building the infrastructure of the future.