Antora Energy Unveils Breakthrough Solution to Deliver Cheap and Zero-Emissions Heat and Electricity for Heavy Industry
Antora Energy, led by CEO Andrew Ponec, has announced a groundbreaking solution that can provide reliable, zero-emissions heat and electricity to heavy industries. Ponec highlights that the manufacturing sector, including challenging-to-decarbonize industries like cement, steel, and petrochemicals, contributes a staggering 30% of global greenhouse gas emissions. Currently, there is a lack of scalable solutions to address the primary drivers of these emissions: heat and power generated from coal and gas combustion.
To tackle this issue, Antora Energy has developed a thermal energy storage system that absorbs low-cost renewable electricity and stores it as high-temperature heat. This stored thermal energy can be directly utilized for process heat up to 1500°C or converted back into electricity. Essentially, Antora Energy transforms wind and solar energy into a continuous, affordable, and clean power and heat supply, revolutionizing the industry’s energy landscape.
To scale up their operations and significantly reduce billions of tons of CO2 emissions annually, Antora Energy has partnered with prominent investors such as Breakthrough Energy Ventures, Lowercarbon Capital, and a syndicate of other investors. Notable contributors include Shell Ventures, BHP Ventures, Grok Ventures, Trust Ventures, Overture VC, Impact Science Ventures, and existing investor Fifty Years VC.
Since its founding in 2018, Antora Energy has been developing this technology with support from prestigious organizations like the Department of Energy, the California Energy Commission, the National Science Foundation, the Activate Fellowship, and private investors. With recent Series A funding and previous investments, the company plans to construct its initial customer-sited projects and accelerate its hiring efforts. Ponec emphasizes the importance of building a diverse team of passionate individuals dedicated to combatting climate change.
Breakthrough Energy Ventures, known for backing innovative companies in pursuit of net-zero emissions, recognizes the significance of Antora Energy’s clean energy storage for industrial heat and power. Lowercarbon Capital, led by Chairman Chris Sacca, emphasizes that Antora Energy’s ability to generate heat and electricity from solar panels at a lower cost than burning gas signals the end of fossil fuel reliance.
About Breakthrough Energy Ventures: Backed by influential global business leaders, Breakthrough Energy Ventures (BEV) invests in cutting-edge companies that will lead the world towards net-zero emissions. With over $2 billion in committed capital, BEV supports ambitious entrepreneurs developing solutions to significantly reduce emissions across various sectors, including buildings, agriculture, transportation, electricity, and manufacturing. By providing patient, risk-tolerant capital, BEV aims to expedite the market entry of transformative clean energy innovations. BEV is part of the broader Breakthrough Energy network, which encompasses investment funds, nonprofit programs, and policy initiatives, all working towards scaling the technologies necessary to address climate change and achieve net-zero emissions by 2050.
About Lowercarbon Capital: Lowercarbon Capital focuses on supporting impactful companies that generate substantial revenue while actively reducing CO2 emissions, sequestering carbon, and contributing to environmental healing.
About Antora Energy: Antora Energy is at the forefront of electrifying heavy industry through energy storage for clean heat and power. By making full reliance on renewable energy for industrial processes possible and profitable, Antora Energy eliminates the need for fossil fuel combustion, which is a major source of greenhouse gas emissions. The company values teamwork, mission-oriented individuals, fostering connections through joy and laughter, and building with humility and openness. Joining Antora Energy offers the opportunity to make a meaningful and fulfilling impact on climate change.