Antora Energy, a developer of thermal battery systems for long-duration energy storage, announced the close of a $550 million Series C funding round on July 30. The oversubscribed round was co-led by G2 Venture Partners and Eclipse, with participation from new investors including Ribbit Capital, Salesforce Ventures, and Activate Capital, alongside existing backers such as Decarbonization Partners and Breakthrough Energy Ventures.
Antora’s technology addresses a critical gap in energy storage capabilities. While conventional lithium-ion batteries used in grid operations typically provide 2-4 hours of storage duration, Antora’s system stores energy as heat in solid carbon blocks, enabling discharge periods extending into the 10-100 hour range or longer. This capability makes the technology suitable for industrial processes requiring extended power availability, including steelmaking, chemical production, and food manufacturing, as well as grid-level applications.
The company has built momentum through government support and private investment. In 2019, Antora received a $7.9 million technology development grant from the U.S. Department of Energy’s ARPA-E office through its DAYS program, which focuses on advancing long-duration energy storage technologies. In 2024, ARPA-E awarded an additional $14.5 million grant under its SCALEUP program for companies with demonstrated commercial pathways. Antora also closed a $150 million Series B round in 2024.
With the new capital infusion, Antora plans to accelerate large-scale project deployments nationwide, expand production capacity, and establish a second U.S. manufacturing hub to strengthen domestic supply chains. The company highlighted its South Dakota project, described as one of the world’s largest battery storage installations with 5 gigawatt-hours of capacity, which required only 12 months from construction start to commissioning. Antora has based operations in California and emphasized job creation opportunities in traditional manufacturing trades including welding, electrical work, and machining.
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