Rondo Energy raised $60 million to accelerate industrial decarbonisation

Rondo Energy, a zero-carbon industrial power and heat provider, has secured $60 million in a new funding to accelerate the introduction of Rondo heat batteries to transform the market for energy storage globally.

In order to set up storage projects globally, the company received funding from Energy Impact Partners, Breakthrough Energy Ventures, SCG, and TITAN. In addition to this, the Climate Innovation Fund of Microsoft, Rio Tinto, SABIC, and Aramco Ventures were some of the industrial investors, while SDCL Energy Efficiency Income Trust and John Doerr were the climate investors.

In 2023, the first commercial Rondo unit started operating, reducing the carbon intensity of the biofuel generated by Calgren Renewable Fuels.
In 2023, Rondo, in collaboration with Siam Cement Group, announced its current heat battery storage capacity of 2.4 GWh per year. The company intended to increase this capacity to 90 GWh per year.