🏆 Deal of the Week · CW 17/2023
Energy Dome raised EUR 40 million in a Series B financing round; the company's valuation was not disclosed. The round drew participation from nine investors spanning European venture capital, energy majors, development finance, and strategic climate-focused funds. The closing was announced in April 2023.
Energy Dome — key deal facts
| Company | Energy Dome |
| Founded | 2020 |
| Headquarters | Milan, Italy |
| Amount raised | EUR 40M |
| Valuation | Valuation Remains Undisclosed |
| Round | Series B |
| Investors | 360 Capital (https://www.360cap.vc/) Barclays Sustainable and Impact Banking (https://www.cib.barclays/solutions/esg-sustainability-transition.html?cid=paidsearch-textads_google_google_business_branded_uk-we_brand_esg_capabilities_1392745704913&gclid=Cj0KCQjw3a2iBhCFARIsAD4jQB1iCEPDfyxQZGXEDk46FCixebALy9HiQW4ywQbM46VDTtQXp8FpurQaAhRZEALw_wcB&gclsrc=aw.ds) CDP Venture Capital (https://www.cdpventurecapital.it/cdp-venture-capital/en/home.page) Elemental Excelerator (https://elementalexcelerator.com/) Eni Next (https://www.eni.com/eninext/en-US/home.html) Invitalia (https://www.invitalia.it/) Japan Energy Fund (https://www.japanenergyfund-ventures.com/) Neva SGR (https://www.nevasgr.it/) Novum Capital Partners (https://www.novumcapital.com/en/) |
| Sectors | Energy |
Who invested in Energy Dome?
The round was backed by 360 Capital, Barclays Sustainable and Impact Banking, CDP Venture Capital, Elemental Excelerator, Eni Next, Invitalia, Japan Energy Fund, Neva SGR, and Novum Capital Partners. The investor mix is notable for its breadth: it combines Italian public development institutions (CDP Venture Capital, Invitalia), a global energy major's venture arm (Eni Next), a Japanese energy-focused fund, a UK investment bank's sustainability unit, and specialist climate accelerators on both sides of the Atlantic. That geographic and institutional diversity reflects the global demand for long-duration storage infrastructure.
What does Energy Dome do?
Energy Dome is a Milan-based deep tech company founded in February 2020 by Claudio Spadacini, Dario Rizzi, and Francesco Oppici. The company develops and commercialises its CO2 Battery, a long-duration energy storage system that stores electricity for 8 to 24 hours through a thermo-mechanical cycle using compressed carbon dioxide. The technology requires no rare earth materials and is positioned as a cost-competitive alternative to lithium-ion at grid scale, targeting utilities and large energy users that need firm, dispatchable capacity. Energy Dome's systems are already operating or contracted across three continents.
Energy Dome valuation & multiples
No existing multiples analysis was provided for this deal. Because Energy Dome's post-money valuation was not disclosed at closing, direct EV/Sales or EV/EBITDA multiples cannot be calculated from verified data. Readers seeking sector benchmarks for energy storage and cleantech infrastructure companies are encouraged to consult the relevant sector multiples pages on DealMatrix.
Explore the benchmarks: Series B.
Frequently asked questions
How much did Energy Dome raise in its Series B?
Energy Dome raised EUR 40 million in its Series B round, which closed in April 2023.
What is Energy Dome's valuation?
Energy Dome's valuation was not disclosed in connection with the Series B financing round.
Who invested in Energy Dome?
The Series B was backed by 360 Capital, Barclays Sustainable and Impact Banking, CDP Venture Capital, Elemental Excelerator, Eni Next, Invitalia, Japan Energy Fund, Neva SGR, and Novum Capital Partners.
When was Energy Dome founded and where is it based?
Energy Dome was founded in February 2020 and is headquartered in Milan, Italy.
Source: original announcement — read the full report.