Redoxblox, a San Diego, CA-based company providing low-cost thermochemical energy storage systems (TCES), raised $40.7M in Series A funding.
The round was led by Prelude Ventures and joined by Imperative Ventures and New System Ventures, alongside existing investors Breakthrough Energy Ventures and Khosla Ventures.
The company intends to use the funds to expand operations and its business reach.
Redoxblox is providing new class of low-cost thermochemical energy storage systems (TCES) designed to accelerate industrial decarbonization and address long duration energy storage needs for the grid. Its TCES units store energy both chemically and as heat at very high temperatures that can be discharged continuously or as needed directly into industrial processes or as an energy source for electricity generation.
The company also announced the appointment of a new CEO, Pasquale Romano, formerly President and CEO of ChargePoint and currently Member of The President of the United States’ National Infrastructure Advisory Council (NIAC). Romano will lead the company through its next phase of growth, expanding into key industrial heat and long duration grid scale storage markets.
FinSMEs
01/11/2024