Exergy3 is a technology company.
Exergy3 has raised $1.0M across 1 funding round.
Exergy3 has raised $1.0M in total across 1 funding round.
Exergy3 is a cleantech startup developing modular ultra-high temperature thermal energy storage systems that convert renewable electricity into heat up to 1300°C, enabling industries to replace fossil fuels with low-carbon alternatives.[1][2][4] It serves heavy industries like food and drink, chemicals, pharmaceuticals, glass, paper and pulp, distilleries, and district heating systems, solving the challenge of decarbonizing high-temperature processes (>100°C) that account for over 50% of global industrial CO₂ emissions by storing excess green energy that would otherwise be curtailed.[1][2][4] The technology features compact 8MWh modules (smaller than a 40ft container) with <1% daily thermal losses, grid flexibility services, and nearly 100 patent-pending inventions for easy integration.[1][2][3]
Growth momentum includes a 2023 University of Edinburgh spinout, £3.6M UK government grant for a 36MWh demonstrator at Annandale Distillery (powering a 4MW boiler), and £1M+ pre-seed/seed funding in 2024 from Zero Carbon Capital, Old College Capital, and Scottish Enterprise to accelerate commercialization.[3][4][6]
Exergy3 emerged from over 10 years of R&D by University of Edinburgh engineers and scientists focused on high-temperature thermal energy storage to decarbonize industrial heat.[1][3] The company spun out in May 2023, led by CEO Dr. Marcus Rondé, with a motivated team of engineers, scientists, and professionals including roles like Market Data Analyst and Lead Technician.[2][3][4]
A pivotal moment came shortly after spinout with £3.6M grant funding from the UK Department of Energy Security and Net Zero for the Annandale Distillery demonstrator, marking early traction in real-world deployment; by 2024-2025, the project advanced to installation and operations while securing additional private investment.[3][4]
Exergy3 rides the global push for net-zero by 2050, targeting industrial heat decarbonization—a key barrier as these processes drive >50% of CO₂ emissions and rely on unabated fossil fuels.[1][4] Timing aligns with surging renewables integration, grid constraints from variable supply, and policies like UK net-zero grants, enabling storage to prevent curtailment and electrify heat economically.[2][3][4]
Market forces favoring it include massive investments in cleantech, rising energy costs, and demand for flexible assets in constrained regions unsuitable for hydro or batteries; it influences the ecosystem by proving viable pathways for renewables utilization, grid stability, and industrial transitions, potentially scaling to pharmaceuticals, chemicals, and beyond.[2][4]
Exergy3 is poised to commercialize post-demonstrator, expanding from Annandale Distillery to broader pilots in food/drink, chemicals, and district heating, leveraging 2024 seed funding for market growth.[3][4][6] Trends like AI-optimized grids, policy-driven electrification, and hydrogen alternatives will amplify demand for its high-temp storage, potentially evolving it into a global leader in industrial decarbonization with revenue from heat sales and flexibility services. This positions Exergy3 to turn excess renewables into a cornerstone of net-zero industry, fulfilling its spinout promise of greener energy at scale.[1][2]
Exergy3 has raised $1.0M in total across 1 funding round.
Exergy3's investors include Zero Carbon Capital.
Exergy3 has raised $1.0M across 1 funding round. Most recently, it raised $1.0M Seed in September 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Sep 1, 2024 | $1.0M Seed | Zero Carbon Capital |