Antora Energy Raises $550M to Accelerate Thermal Battery Expansion
Thermal battery developer Antora Energy has closed an oversubscribed $550 million Series C funding round to expand its manufacturing capacity and accelerate commercial project deployment across the United States.
Co-led by G2 Venture Partners and Eclipse, the round drew new investments from Ribbit Capital, Salesforce Ventures, Activate Capital, John Doerr, Westly Group, StepStone Group, and Liberty Mutual Strategic Ventures. Existing backers including Breakthrough Energy Ventures, Lowercarbon Capital, and Decarbonization Partners also participated.
The capital injection will support the establishment of a second domestic manufacturing hub, strengthen Antora’s U.S. supply chain, and speed up large-scale installations. Antora’s thermal technology stores low-cost renewable electricity as high-temperature heat in solid carbon blocks, providing industrial facilities and data centers with on-demand zero-emission heat and power without relying on critical minerals.
“From factories to data centers, energy is the bottleneck to industrial growth,” said Andrew Ponec, co-founder and CEO of Antora. “Antora has shown we can help break that bottleneck—delivering energy fast, at massive scale, with American innovation.”
The funding follows the recent operational launch of Antora’s 5 gigawatt-hour battery storage system in South Dakota, which transitioned from initial construction to energy delivery in under 12 months. The company also recently expanded its primary San Jose facility into a three-building manufacturing campus.
Pictured: Antora thermal batteries at the POET bioprocessing facility in Big Stone City, South Dakota.
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