Ore Energy raises $43M Series A backed by Plural and HV Capital
What’s the deal? Amsterdam-based Ore EnergyDealroom has a profile for this one. Try Dealroom → has raised a $43m Series A led by PluralDealroom has a profile for this one. Try Dealroom → and HV Capital, with participation from Positron VenturesDealroom has a profile for this one. Try Dealroom →. The round brings Ore Energy’s total funding to $61m and is intended to take the company from grid-connected pilots to manufacturing and commercial deployment.
What does Ore Energy do? The company is developing iron-air batteries for long-duration energy storage. During charging and discharging, the system reversibly rusts and derusts iron electrodes, using abundant materials including iron, water and air rather than relying on lithium or cobalt. Its modular, containerised systems are designed for discharge durations of roughly 24 to 100 hours — a different use case from lithium-ion batteries that typically serve shorter-duration storage. Ore Energy says its approach could reduce the cost per unit of storage capacity by about tenfold compared with lithium-ion for long-duration applications.
Why it matters. Wind and solar can provide inexpensive electricity, but the grid still needs a way to cover multi-day periods when renewable generation is low. That gap is increasingly important as Europe adds renewables, electrifies industry and builds energy-intensive AI data centres. Plural partner Ian Hogarth described long-duration storage as one of the energy transition’s biggest unsolved challenges, while HV principal Maxi Pethö-Schramm highlighted its potential to provide European industry with more affordable, reliable baseload power.
Progress to date. Ore Energy has already moved beyond the lab. It first connected a system to the grid in Delft and subsequently completed a 100-hour pilot at EDFDealroom has a profile for this one. Try Dealroom → Lab les Renardières in France under the EU-backed StoRIES programme. The EDF pilot tested the technology under live utility conditions over several months, including different load profiles and seasonal conditions, and demonstrated the ability to store and discharge electricity for roughly four days.
Commercial traction. In June 2026, Ore Energy announced an agreement with Budget EnergieDealroom has a profile for this one. Try Dealroom →, which operates the Budget Thuis brand, to deploy up to 1 GWh of iron-air storage in the Netherlands. The first committed phase is 400 MWh, planned for delivery in 2028. The latest funding will support Ore Energy’s first manufacturing facility, expansion of its manufacturing, commercial and operational teams, and a target of gigawatt-hour-scale production in 2028.
Read more: Sifted · Energy-Storage.News · Ore Energy
Image credit: Ore Energy
