Voya Energy raises $35M to turn scrap aluminum into 24/7 power
What's the deal? Voya EnergyDealroom has a profile for this one. Try Dealroom → has closed a $35 million Series A led by Energy Impact PartnersDealroom has a profile for this one. Try Dealroom → to commercialise an energy system that turns aluminum into electricity. The round drew participation from John DoerrDealroom has a profile for this one. Try Dealroom →, Mantis VCDealroom has a profile for this one. Try Dealroom →, StepStone, Founders Fund, Overmatch, and Seven StarsDealroom has a profile for this one. Try Dealroom →.
What's the endgame? The Hayward, California startup, founded in 2025, pairs a proprietary aluminum-based metal fuel with an electrochemical generator that produces power without combustion or air emissions at the point of use. Its fuel comes from low-grade scrap aluminum, converted directly into electricity through a low-temperature process.
Why does it matter? Voya targets data centers, industrial operators, and other large energy users constrained by grid access, permitting, or fuel logistics. Its industrial-scale design is expected to deliver up to two megawatts from a standard 20-foot container.
At scale, the company says the system can provide roughly 100 megawatts of generation and 10 gigawatt-hours of stored energy per acre — about four times more compact than diesel generator fleets and 100 times more compact than grid-scale battery installations.
Why now? The financing will fund technology development, initial deployments in 2027, and manufacturing scale-up in 2028. Nearly a dozen companies across data centers, industry, transportation, utilities, and infrastructure are partnering with Voya on near-term pilot demonstrations.
"America needs dramatically more electricity to power our industries, strengthen our communities, and support continued economic growth," said John Doerr, founder at Doerr CapitalDealroom has a profile for this one. Try Dealroom → and chair at Kleiner Perkins. He said meeting that demand "requires new technologies that can deliver clean, firm power at speed and scale."
The signal: The round sits in the top 6% of all US Series A rounds in energy by size, a marker of investor appetite for firm power that can sidestep the grid. As data center demand strains utilities, capital is flowing to startups promising electricity on site — and fast.
Image credit: Generated with Gemini
