CMBlu Energy, a long-duration energy storage company based in Alzenau, Germany, has announced a €50 million initial close of its Series C financing, reaching a valuation above €1 billion.
Samsung Ventures participated in the round alongside existing investors, including STRABAG SE. The funding will be used to scale manufacturing and speed up early commercial deployments in Europe and the United States.
Founded in 2014, CMBlu develops non-lithium energy storage systems based on its SolidFlow battery technology, designed for multi-hour applications using abundant, non-flammable materials. The raise highlights continued investor interest in alternative battery technologies as utilities, industry, and data-intensive infrastructure look for longer-duration storage beyond lithium-based systems.
Samsung Ventures participated in the round alongside existing investors, including STRABAG SE. The funding will be used to scale manufacturing and speed up early commercial deployments in Europe and the United States.
Founded in 2014, CMBlu develops non-lithium energy storage systems based on its SolidFlow battery technology, designed for multi-hour applications using abundant, non-flammable materials. The raise highlights continued investor interest in alternative battery technologies as utilities, industry, and data-intensive infrastructure look for longer-duration storage beyond lithium-based systems.