Hogarth Says Plural Co-Leads Ore Energy Round
Ian Hogarth posted about Plural Platform co-leading an investment in Ore Energy.
Ian Hogarth posted a thread stating that Plural Platform is co-leading an investment in Ore Energy with HV Capital. Hogarth described Ore as building iron-air batteries from iron, water and air to store power for up to 100 hours, with a supply chain that can remain inside Europe or the US. He said the company has signed a 1 GWh deal with Dutch utility Budget Thuis and is running pilots with EDF in France. The thread also links to a Sifted article whose headline reads 'Exclusive: Plural backs $43m round for next-generation battery startup Ore Energy'.
1/ Europe throws away enough renewable electricity every year to power a country the size of Austria. We therefore spend billions every year shutting off cheap, clean power, then pay to burn gas that fills the gap. That's why @pluralplatform is backing Ore Energy.
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10 postsIH 
Ian Hogarth@soundboy2/ Ore builds iron-air batteries that can store power for up to 100 hours. The batteries are built from iron, water and air - materials that are abundant, inexpensive and don't require a single gram of lithium or cobalt.
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IH Ian Hogarth@soundboy3/ That means Ore's entire supply chain can sit inside Europe or the US, with zero dependence on Chinese battery cells or on Russian gas.
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IH Ian Hogarth@soundboy4/ This 100-hour duration is what turns a windfarm from a source of volatile power into something that behaves, from a grid operator's perspective, more like a gas plant: a firm, dispatchable baseload, but renewable and roughly ten times cheaper than lithium-ion at this duration.
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IH Ian Hogarth@soundboy9/ The company has already made impressive progress: It's signed a 1 GWh deal with Dutch utility Budget Thuis and is running pilots with EDF in France.
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IH Ian Hogarth@soundboy11/ Ore's batteries are the missing jigsaw piece that will reconcile hard trade-offs between decarbonisation and prosperity. By enabling us to squeeze the most value we can out of wind and solar, it could be one of most important energy technology companies ever created.
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IH Ian Hogarth@soundboy12/ Very glad to be co-leading with our friends at @HV_Capital.
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