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Based in Edinburgh, Scotland, in the United Kingdom, Exergy3 develops ultra-high temperature thermal energy storage systems that capture excess renewable energy to drive industrial decarbonization. The modular technology stores this energy at up to 1,200 degrees Celsius with minimal thermal loss, providing up to 36 megawatt-hours of capacity within a standard shipping container footprint. These systems supply clean heat and high-temperature steam to heavy industrial processes and the food and drink sector, highlighted by an ongoing commercial trial at the Annandale whisky distillery. The company has secured 4.55 million dollars in total funding, which includes a recent pre-seed equity round led by Zero Carbon Capital alongside Old College Capital and Scottish Enterprise. Spun out from the University of Edinburgh School of Engineering in 2021, the enterprise was established by founders Markus Rondé and Adam Robinson.
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 | Status |
|---|---|---|---|---|
| Sep 1, 2024 | $1M Seed | — | Zero Carbon Capital | Announced |
