Ore Energy develops a low-cost, long-duration energy storage system using a modular battery technology that employs reversible rusting of iron, water, and air. This solution addresses the challenge of storing renewable energy for extended periods, enabling a fully decarbonized electricity grid.
Funding
$61M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
PVSFounders
Product
Problem
Renewable electricity generation is intermittent, and existing battery technologies are too expensive, fire‑prone, and difficult to scale for long‑duration storage, forcing reliance on fossil‑fuel backup during periods without wind or sun.
Solution
Ore Energy develops long‑duration energy storage systems that use abundant, low‑cost materials such as iron, water, and air. The batteries are designed to be fire‑safe and environmentally benign, enabling large‑scale deployment at a fraction of the cost of conventional chemistries. By leveraging readily available resources, the technology can be produced economically and scaled rapidly to meet grid‑level storage needs. This approach aims to replace fossil‑fuel peaker plants and provide reliable, multi‑hour to multi‑day storage for a fully renewable power grid.
Target Audience
Primary customers are utility operators, renewable energy developers, and large‑scale grid managers seeking affordable, safe, and scalable storage solutions for intermittent generation.
Features
- Battery chemistry based on iron, water, and air, eliminating reliance on scarce or toxic materials
- Inherently fire‑safe design with no flammable electrolytes
- Low material cost enables a significantly lower levelized cost of storage compared to lithium‑ion systems
- Modular architecture that supports easy scaling from megawatt‑hour to gigawatt‑hour installations
- Long‑duration discharge capability suitable for multi‑hour to multi‑day energy storage applications