Exclusive: Ore Energy comes out of hiding to develop utility-scale batteries with extended storage capabilities

Ore Energy, a startup based in the Netherlands, is revolutionizing the energy storage industry with its innovative iron-air batteries. Founder Aytac Yilmaz, a former researcher at TU Delft, has developed a technology that could potentially solve the issue of intermittent renewable energy sources like solar and wind.

With €10 million in seed funding from Positron Ventures and other investors, Ore Energy is on a mission to make grid-scale batteries cheaper and longer lasting. Yilmaz envisions these batteries providing around 100 hours of storage, allowing for longer gaps in renewable power generation.

Unlike traditional lithium-ion batteries, Ore Energy’s iron-air batteries do not contain all the necessary chemicals inside. Instead, they draw oxygen from the atmosphere to release and store energy through a corrosion process. This unique approach sets them apart in the energy storage market.

The company is already working with utilities and is gearing up for commercial-scale production with the help of the new funding. By the end of the decade, Yilmaz hopes to have a gigawatt-scale factory online, aiming to deeply decarbonize the grid by the 2030s.

While Ore Energy faces competition from U.S.-based Form Energy, Yilmaz believes there is room for multiple players in the industry. Both companies share the goal of transforming the electricity grid, with Ore Energy focusing on Europe while Form Energy leads the charge in the U.S.

With the rise of renewable energy sources, the demand for efficient and affordable energy storage solutions is higher than ever. Ore Energy’s iron-air batteries could be the key to unlocking a sustainable and reliable energy future.