Antora Energy, an energy solutions company based in the US, has reportedly unveiled a solution for delivering zero-emissions electricity and heat, to heavy industry, which is much more reliable than conventional fossil fuels and just as affordable.
As per Andrew Ponec, CEO, Antora Energy, the manufacturing industry constitutes an astounding 30% of worldwide greenhouse gas emissions, this includes the notoriously difficult-to-decarbonize sectors like steel, cement, and petrochemicals. Right now, there are no scalable technologies for cleaning up the key sources of these emission; power and heat from gas and coal combustion.
Ponec added that teaming up with Lowercarbon Capital, Breakthrough Energy Ventures, and Antora’s powerful network of other investors, would bring the know-how and resources the firm needs to grow its business and eliminate billions of tons of CO2 emissions every year.
Among the additional investors are enterprises like BHP Ventures, Impact Science Ventures, Shell Ventures, Trust Ventures, Grok Ventures, and Overture VC, with existing investor; Fifty Years VC also joining the round.
The system for thermal energy storage developed by Antora absorbs low-cost renewable energy to store it in the form of high-temperature heat. This thermal energy can subsequently be converted again into electricity or can be used to provide process heat at temperatures of over 1500°C.
To simply put, Antora converts solar and wind energy into 24/7 electricity as well as heat and places the sector on a path to affordable, clean, round-the-clock energy.
Since its inception in 2018, Antora Energy has been developing its technology with funding from the Activate Fellowship, the Department of Energy, the National Science Foundation, the California Energy Commission, and private investors.
Antora will build up its first customer-sited developments and accelerate recruitment with the help of the recent Series A and former funding.
Ponec expressed that Antora is putting together a broad team of empathetic individuals who are committed to their profession and want to put an end to climate change.
