UoE spinout Exergy3 raises £10M seed for thermal storage
Key Questions
What is Exergy3?
Exergy3 is an Edinburgh-based cleantech startup and University of Edinburgh spinout specializing in ultra-high temperature thermal energy storage solutions. It focuses on converting surplus renewable electricity into low-carbon industrial heat.
How much seed funding did Exergy3 raise?
Exergy3 secured £10 million (approximately €11.4 million) in seed funding. This investment supports scaling its proprietary technology.
What problem does Exergy3's technology address?
The technology converts surplus electricity from renewables into ultra-high temperature thermal storage for low-carbon industrial heat. It tackles energy waste and supports Europe's net-zero goals.
Why is Exergy3's funding significant for the University of Edinburgh?
The funding reinforces the University of Edinburgh's surge in energy and climate tech spinouts. It positions Exergy3 amid developments like Vestas and others in the sector.
What aspects of Exergy3 should be monitored going forward?
Track backers, pilots, and scaling progress as the company is in developing status. The investment enables expansion of its thermal storage technology.
Edinburgh cleantech Exergy3 secures £10M/€11.4M seed for ultra-high temp thermal storage from surplus renewables, enabling low-carbon industrial heat. Reinforces UoE spinout surge in energy/climate tech amid Vestas/Deep Green/DC tensions; track backers, pilots, scaling.