All the funding deals in the LDES market
Last updated: 18 February 2026
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This page tracks major fundraising activity in the Long Duration Energy Storage (LDES) market.
We found 54 funding deals in the Long Duration Energy Storage (LDES) market since 2023.
We refresh this Long Duration Energy Storage (LDES) market page every quarter to keep the list current.
And if you want to better understand this new industry, you should get our beautiful slides covering the Long Duration Energy Storage (LDES) market.
Insights
- Funding in the Long Duration Energy Storage (LDES) market is increasingly concentrated in a few large rounds, with repeated follow-on financings for scale-up leaders like Form Energy and Energy Vault.
- The Long Duration Energy Storage (LDES) market now spans many technology paths, including iron-air, flow batteries, CO2-based storage, compressed air, and thermal-to-power systems.
- Thermal storage is a strong theme in the Long Duration Energy Storage (LDES) market, with multiple rounds for Antora Energy, Fourth Power, Malta, MGA Thermal, and Polar Night Energy.
- Vanadium flow batteries remain a key pillar of the Long Duration Energy Storage (LDES) market, with financings for Invinity Energy Systems, VRB Energy, VFlowTech, H2, Inc., and Rongke Power.
- Several Long Duration Energy Storage (LDES) market companies raised capital tied to factories and deployment, signaling a shift from lab validation to manufacturing and project execution.
- Gravity and mechanical storage are still present in the Long Duration Energy Storage (LDES) market, but most disclosed funding is smaller than battery and thermal categories, with notable exceptions like Energy Vault.
- The Long Duration Energy Storage (LDES) market is global, with meaningful funding events in North America, Europe, China, Southeast Asia, and Australia across the deal list.
- Many Long Duration Energy Storage (LDES) market financings are supported by strategic partners and infrastructure-focused capital, which can accelerate commercial deployments beyond traditional venture funding.
In our LDES market deck, we show you long-term trends so you can make better decisions
Summary table of the funding deals for the Long Duration Energy Storage (LDES) market since 2023
We define the LDES market as electricity storage systems designed to discharge at rated power for at least 10 hours.
We include grid-connected and behind-the-meter assets whose primary function is shifting electricity over 10+ hours to multi-day timescales (across electrochemical, mechanical, thermal-to-power, and chemical storage technologies).
We exclude short-duration storage (<10h), demand response, and fuel/heat value chains that are not procured and operated as an electricity storage system.
We focused exclusively on pure players, defined as companies with at least 70–80% of their business directly tied to the Long Duration Energy Storage (LDES) market.
Our analysis has been done at a global level with a minimum funding threshold of $300k.
You can also read our detailed analysis to understand how funding activity in the Long Duration Energy Storage (LDES) market has evolved recently.
If you want a longer-term view, we also have a study of how funding activity in the Long Duration Energy Storage (LDES) market has changed over the years.
Also, you should know that we have a dedicated page, updated weekly, with all the latest fundraising deals in the Long Duration Energy Storage (LDES) market.
| Name | What they do | Amount in $ | Quarter | Source(s) |
|---|---|---|---|---|
| Energy Vault | Builds gravity and hybrid storage systems for multi-day grid energy shifting. | $300M | Q4 2025 | BusinessWire, Yahoo Finance, Nasdaq |
| Quino Energy | Develops organic flow batteries for 8–24+ hour long-duration electricity storage. | $10M | Q4 2025 | PV Magazine USA, CleanTechnica |
| Flux XII | Builds aqueous flow batteries using advanced organic chemistries for grid storage. | $3.95M | Q4 2025 | BusinessWire |
| Highview Power | Develops liquid air energy storage for 12+ hour grid-scale electricity storage. | $165.1M | Q4 2025 | Highview Power, Orrick, Perkins Coie, Centrica |
| Sizable Energy | Develops offshore pumped hydro and gravity storage using dense brine. | $8M | Q4 2025 | Electrek |
| Energy Dome | Commercializes CO2-based long-duration storage using compressed carbon dioxide. | Undisclosed | Q3 2025 | Energy Storage News, Tracxn, IEEE Spectrum |
| ESS Inc. | Manufactures iron flow batteries designed for 10+ hour grid-scale storage. | $31M | Q3 2025 | Energy Storage News, MarketScreener |
| Offgrid Energy Labs | Develops zinc-bromine flow batteries for 6–12 hour electricity storage. | $15M | Q3 2025 | TechCrunch |
| Invinity Energy Systems | Builds vanadium flow batteries for 4–24 hour grid and commercial storage. | $31.75M | Q3 2025 | Investing.com, Tracxn, OTC Markets |
| Unbound Potential | Develops membrane-free redox flow batteries for long-duration grid storage. | $6.9M | Q3 2025 | ESS News, Tracxn |
| VFlowTech | Builds vanadium flow batteries for grid and commercial long-duration storage. | $20.5M | Q2 2025 | VFlowTech, Saur Energy |
| RayGen | Builds thermal hydro storage systems using water temperature differences. | $82M | Q2 2025 | RayGen, Energy Storage News, Business News Australia |
| Sthyr Energy | Builds mechanically rechargeable zinc-air batteries for seasonal storage. | $1M | Q2 2025 | ChemIndigest |
| Hydrostor | Develops advanced compressed air energy storage for 8+ hour grid storage. | $200M | Q1 2025 | Hydrostor, BusinessWire, ESG Today |
| Form Energy | Develops iron-air batteries for 100-hour grid-scale electricity storage. | $405M | Q4 2024 | Form Energy, Canary Media, Utility Dive |
| H2, Inc. | Manufactures vanadium redox flow batteries for large-scale long-duration storage. | $16M | Q4 2024 | PR Newswire, Mercom Capital |
| Green Gravity | Builds gravity storage using mine shafts for 8–20 hour grid support. | $6M | Q4 2024 | Energy Storage News, Renew Economy |
| Skip Technology | Develops hydrogen-bromine flow batteries for long-duration grid storage. | $5M | Q4 2024 | GeekWire |
| VRB Energy | Develops vanadium flow batteries for 10+ hour grid and microgrid storage. | $55M | Q3 2024 | Ivanhoe Electric |
| Allegro Energy | Builds aqueous redox flow batteries for 8–12+ hour electricity storage. | $11.6M | Q3 2024 | PV Magazine, PV Magazine Australia |
| XL Batteries | Develops organic flow batteries designed for 10-hour energy storage. | $7.5M | 2024 | Energy Storage News |
| Polar Night Energy | Builds sand-based thermal energy storage for week-to-month timescales. | $8.2M | Q2 2024 | PV Magazine, ArcticStartup |
| AquaBattery | Develops saltwater acid-base flow batteries for 8+ hour storage. | $6.5M | Q2 2024 | AquaBattery, Silicon Canals |
| e-Zinc | Develops zinc-air batteries for 24+ hour electricity storage. | $31M | Q2 2024 | e-Zinc, MHI, Pulse2 |
| Invinity Energy Systems | Manufactures vanadium flow batteries for 4–12+ hour energy storage. | $72.6M | Q2 2024 | Nasdaq, Energy Storage News |
| Alsym Energy | Builds non-lithium batteries for 4–110 hour long-duration storage. | $78M | Q2 2024 | Electrek, PV Magazine USA |
| EnerVenue | Manufactures nickel-hydrogen batteries for 10–20+ hour energy storage. | $308M | Q2 2024 | TechCrunch, Crunchbase |
| Antora Energy | Builds thermal batteries that store electricity as heat for industry. | $150M | Q1 2024 | Antora, Energy Storage News |
| Fourth Power | Stores electricity as heat using liquid tin and TPV cells. | $20M | Q3 2024 | Energy Storage News |
| Malta Inc. | Builds pumped-heat storage using molten salt and antifreeze. | $21.6M | Q4 2023 | BusinessWire, Latitude Media |
| CMBlu Energy | Develops organic SolidFlow batteries for 8–12+ hour storage. | $106.7M | Q4 2023 | Energy Storage News, Yahoo Finance |
| Fourth Power | Builds thermal batteries designed for 5–100+ hour grid storage. | $19M | Q4 2023 | BusinessWire, Axios, Utility Dive |
| Energy Dome | Develops CO2-based long-duration storage for grid-scale applications. | $60M | Q2 2023 | TechCrunch, Energy Dome |
| Zhongchu Guoneng | Develops compressed air energy storage for long-duration grid storage. | $145M | Q2 2023 | Crunchbase, Ofweek |
| Rongke Power | Builds vanadium flow batteries for utility-scale energy storage. | $145M | Q2 2023 | AVCJ, Tracxn |
| Shanghai Electric Energy Storage Technology | Delivers utility-scale vanadium flow battery projects across China. | $54M | Q3 2023 | PR Newswire Asia, Tamarindo |
| MGA Thermal | Builds modular thermal storage blocks for 10+ hour storage. | $5.4M | Q3 2023 | PV Magazine, PV Magazine Australia |
| i-TES | Builds thermal batteries using phase change materials. | $1.5M | Q2 2023 | EU-Startups, Finsmes |
| Gravitricity | Develops gravity storage using weights in mine shafts. | $1M | Q1 2023 | Energy Storage Journal, UK Tech News |
| Noon Energy | Develops carbon-oxygen batteries for ultra-long duration electricity storage. | $28M | Q1 2023 | Noon Energy, Axios |
| XL Batteries | Builds organic flow batteries using non-toxic, non-flammable electrolytes. | $10M | Q1 2023 | XL Batteries, Mercom Capital |
| VFlowTech | Builds vanadium flow batteries for commercial and industrial storage. | $10M | Q1 2023 | Energy Storage News, PV Magazine Australia |
| Quino Energy | Develops aqueous organic flow batteries using quinone molecules. | $4.55M | Q1 2023 | PR Newswire, Finsmes |
| Form Energy | Develops iron-air batteries for multi-day grid-scale electricity storage. | $450M | Q4 2022 | TechCrunch, PV Magazine USA, Energy Storage News |
| H2 Inc | Manufactures vanadium redox flow batteries for utility-scale storage. | $18M | Q4 2022 | Energy Storage News |
| Energy Dome | Develops CO2-based thermomechanical electricity storage for grids. | $11M | Q2 2022 | Energy Dome |
| Hydrostor | Builds advanced compressed air energy storage systems for grids. | $275M | Q1-Q2 2022 | PV Magazine, CPP Investments |
| Energy Vault | Develops gravity-based storage using large composite blocks. | $150M | Q1 2022 | Canary Media, Energy Storage News |
| Antora Energy | Builds thermal batteries that store electricity as industrial heat. | $50M+ | Q1 2022 | CNBC, Mercom Capital |
| Zhongchu Guoneng Technology | Develops compressed air energy storage using salt caverns. | $48M | Q2 2022 | Energy Storage News, Asia Times |
| e-Zinc | Develops zinc-air batteries designed for up to 5 days storage. | $25M | Q2 2022 | BusinessWire |
| Green Gravity | Develops gravity storage using decommissioned mine shafts. | $1M | Q2 2022 | PV Magazine, PV Magazine Australia |
| VoltStorage | Builds flow batteries for commercial and grid electricity storage. | $24M | Q3 2022 | VoltStorage, Green Car Congress, InnoEnergy |
| Cheesecake Energy | Builds thermo-mechanical storage using compressed air and heat storage. | $4.2M | Q3 2022 | BGF, UK Tech News |
| Quino Energy | Commercializes organic quinone flow batteries for grid storage. | $3.3M | Q3 2022 | Harvard SEAS, PR Newswire |
| Rondo Energy | Stores electricity as heat using durable bricks for industrial use. | $22M | Q1 2022 | BusinessWire, Energy Storage News |
In our LDES market deck, we will give you useful market maps and grids
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