Antora Energy announced its closing on $550 million in Series C funding. The oversubscribed round was co-led by G2 Venture Partners and Eclipse, with participation from new investors including Ribbit Capital, Salesforce Ventures, Activate Capital, John Doerr, Westly Group, StepStone Group, and Liberty Mutual Strategic Ventures. Existing investors also contributed to the round, including Decarbonization Partners, Impact Science Ventures, Trust Ventures, Breakthrough Energy Ventures, and Lowercarbon Capital.
The Series C advances the company’s work to deliver affordable, reliable energy at the scale and speed that American industry and data centers require. The round will accelerate the deployment of large-scale projects across the country, enable Antora to expand production and establish a second U.S. manufacturing hub, and further strengthen the company’s domestic supply chain.
The announcement comes on the heels of the company’s deployment of one of the largest battery storage projects in the world, a 5 gigawatt-hour system in South Dakota that advanced from initial construction to delivering energy in under 12 months. Antora is now scaling that proven approach, with a growing pipeline of signed agreements with hyperscalers and industrial leaders.
“From factories to data centers, energy is the bottleneck to industrial growth,” said Andrew Ponec, Co-Founder and CEO of Antora. “Antora has shown we can help break that bottleneck—delivering energy fast, at massive scale, with American innovation. With this funding round, we’re continuing to strengthen our investment in U.S. manufacturing, delivering affordable energy across the country and around the world.”
Antora’s thermal batteries store low-cost electricity as heat in insulated blocks of solid carbon and deliver it around the clock as heat or power. The same factory-built modules can serve a chemical plant, a food producer, a steelmaker, a data center, or the grid, without supply-constrained critical minerals or multi-year construction timelines.
The result is a tool our energy system hasn’t had before: cheap, clean energy that’s fast to deploy and available around the clock. Antora’s batteries charge when electricity is abundant and deliver when it’s needed most, meeting surging energy demand from large new loads without raising costs for consumers.
“Antora has moved beyond proving the technology to demonstrating it can manufacture and deploy at remarkable speed and scale,” said Joe Fath, Partner and Head of Growth at Eclipse. “The Eclipse team has spent decades helping companies rapidly accelerate manufacturing and deployment, and Antora has the team, technology, and execution capabilities to become a foundational part of America’s energy infrastructure.”
“Our energy system is at an inflection point, and very few companies can meet soaring power demand,” said Jake Tauscher, Partner at G2 Venture Partners “Antora is meeting that demand today. They’re deploying at scale, on budget, and on the rapid timelines customers need. That’s how generational energy companies are built, and it’s why we’re proud to co-lead this round.”
Antora’s San Jose, California factory, which the company recently expanded into a three-building manufacturing campus, ranks among the country’s largest battery gigafactories. Unlike conventional batteries, Antora’s energy storage systems store energy for multiple days and are made of safe, abundant materials. Drawing on a workforce that includes welders, electricians, pipefitters, and machinists, Antora’s deployments have created and supported hundreds of American manufacturing and construction jobs.
“This financing unlocks a new phase of growth for Antora,” said Nehali Jain, VP of Strategy and Growth at Antora. “In 2024, we opened our U.S. factory, which is now one of the largest battery factories in the country. Earlier this year, we turned on one of the largest battery storage projects in the world. This funding round is how we deploy more projects, more quickly, across more sectors and geographies.”
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