Exergy3, a clean-tech startup developing modular thermal energy storage systems for industrial process heat, has raised €11.5 million in seed funding.
The round was led by Axeleo Capital, with participation from Bayern Kapital, Kibo Invest, and existing investors Scottish Enterprise, Zero Carbon Capital, and Old College Capital.
Founded as a University of Edinburgh spinout and now based in Munich, Exergy3 is working on technology that converts surplus renewable electricity into industrial heat. The company said the new funding will be used to commercialize its system, expand production capacity, deliver its first large-scale industrial projects, and establish a European headquarters in Munich as it enters the German market.
The raise highlights continued investor interest in technologies aimed at decarbonizing industrial energy use, particularly as manufacturers face growing pressure to cut emissions while managing power costs and grid volatility.
The round was led by Axeleo Capital, with participation from Bayern Kapital, Kibo Invest, and existing investors Scottish Enterprise, Zero Carbon Capital, and Old College Capital.
Founded as a University of Edinburgh spinout and now based in Munich, Exergy3 is working on technology that converts surplus renewable electricity into industrial heat. The company said the new funding will be used to commercialize its system, expand production capacity, deliver its first large-scale industrial projects, and establish a European headquarters in Munich as it enters the German market.
The raise highlights continued investor interest in technologies aimed at decarbonizing industrial energy use, particularly as manufacturers face growing pressure to cut emissions while managing power costs and grid volatility.