Rondo Energy is a Thermal Storage company founded in 2020 and based in Oakland, USA. It has raised $82M in total funding, most recently a Series B in 2023.
| Date | Stage | Amount | Valuation | Lead investors |
|---|---|---|---|---|
| Aug 17, 2023 | Series B | $60M | — | — |
| Feb 8, 2022 | Series A | $22M | — | Breakthrough Energy Ventures, Energy Impact Partners |
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A modular industrial thermal energy storage system that charges on surplus renewable electricity and discharges continuous high-temperature steam and heat for industrial processes. Stores energy as heat in refractory bricks at up to 1,500°C, delivering steam at over 1,000°C at pressures exceeding 100 bar. Round-trip efficiency exceeds 97% using only brick and wire — materials with no fire, explosion, or toxic leak risk. The 100 MWh flagship system in California entered commercial operation in October 2025, claimed the world's largest industrial heat battery at that time.
39 patents on file, but none with both an extractable figure and an abstract on Google Patents yet.