Ore Energy Secures $43M Series A for Iron-Air Battery Commercialization, Completes EDF Pilot, and Inks 1GWh Deal with Budget Thuis

September 20, 2026

IndexBox.io USA

Overview

Ore Energy has raised $43 million in Series A funding to accelerate the commercialization of its iron-air battery, offering 24–100 hours of grid-scale storage. The company successfully completed a pilot with EDF in France and secured a 1 GWh supply deal with Dutch utility Budget Thuis. Utilizing only iron, water, and air, this technology boasts a lower Levelized Cost of Storage (LCOS) than lithium-ion batteries and eliminates reliance on critical minerals. Ore Energy aims for GWh-scale manufacturing by 2028, advancing its Gen2 cell technology.

In Depth

Key Findings

Ore Energy has successfully secured $43 million in Series A funding to expedite the commercialization of its iron-air battery technology, designed for long-duration grid storage, offering 24 to 100 hours of continuous power. The company has already completed a successful pilot project with French energy giant EDF and secured a substantial 1 GWh supply agreement with Budget Thuis, a Dutch energy retailer. This dual progress highlights the strong market demand for cost-effective and geopolitically de-risked storage solutions essential for the deep integration of renewable energy sources.

Technical / Clinical Details

Ore Energy’s iron-air battery utilizes only abundant and inexpensive materials: iron, water, and air. The technology stores electrical energy through the reversible chemical reaction of iron oxidation (rusting) and then retrieves it as electricity when needed. This approach eliminates dependence on critical and geopolitically sensitive metals such as lithium and cobalt, significantly reducing supply chain risks. The company asserts that its system can achieve a lower Levelized Cost of Storage (LCOS) compared to existing lithium-ion batteries, providing a significant economic advantage for long-duration grid applications. Currently, Ore Energy is advancing its second-generation cell technology with an ambitious goal of GWh-scale manufacturing by 2028.

Background & Context

The rapid expansion of renewable energy generation presents a significant challenge to power grids due to its inherent variability. Intermittent sources like solar and wind require large-scale, long-duration energy storage to ensure a stable and consistent power supply. While lithium-ion batteries are well-suited for short-duration storage, they face cost and lifespan limitations for applications requiring more than 24 hours of storage. Iron-air batteries, such as those developed by Ore Energy, emerge as a promising candidate to bridge this long-duration storage gap. Their use of abundant materials and reduced supply chain risks aligns perfectly with national energy security strategies, enhancing their strategic value.

Strategic Significance & Outlook

The $43 million funding and the significant contract with major energy players like EDF and Budget Thuis indicate that Ore Energy’s iron-air battery technology is gaining strong commercial traction. Achieving GWh-scale manufacturing by 2028 could profoundly impact the global power market, further accelerating the adoption of renewable energy. If deployed at scale, this technology is expected to contribute to reducing reliance on fossil fuels and building a more sustainable and resilient energy infrastructure. The continued development of the company’s second-generation cells and its further market expansion will be key areas to watch.

Source: https://www.indexbox.io/blog/ore-energy-iron-air-battery-43m-series-a-edf-pilot-and-1gwh-budget-thuis-deal/

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