🏆 Deal of the Month · April 2023
Energy Dome raised EUR 40 million in a Series B round; the company's valuation was not disclosed. The round closed in April 2023 and was backed by a nine-investor syndicate spanning European institutional capital, energy majors, and impact-focused funds. No single lead investor was identified in the official announcement.
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 Series B attracted 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 state-backed vehicles (CDP Venture Capital, Invitalia), an energy-major corporate arm (Eni Next), a Japanese energy-sector fund, a UK banking institution, and specialist climate-tech accelerators and growth equity funds across Europe and the United States.
What does Energy Dome do?
Energy Dome is a Milan-based deep-tech company founded in February 2020 by Claudio Spadacini (CEO), Dario Rizzi (CTO), and Francesco Oppici (CCO). The company develops long-duration energy storage through its proprietary CO2 Battery, which stores and dispatches electricity over an 8–24 hour window by compressing and expanding carbon dioxide in a dome-shaped gasholder via a closed thermo-mechanical cycle. The CO2 Battery can be deployed as a standalone asset or co-located with gas turbines to convert waste heat into additional generation, providing firm, dispatchable renewable power at grid scale.
Energy Dome valuation & multiples
No existing multiples analysis was provided for this deal. When assessing long-duration energy storage companies at the Series B stage, analysts typically reference EV/Sales and EV/EBITDA ranges drawn from comparable listed and private energy storage peers. For sector-specific valuation benchmarks relevant to Energy Dome, visit Venionaire DealMatrix's Energy sector multiples pages.
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 this Series B round.
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.
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.