Dutch startup Ore Energy has secured $43 million in a Series A funding round to expand its iron-air battery technology, which targets long-duration energy storage needs. The round was led by Plural and HV Capital, aiming to support Europe's growing demand for reliable power solutions, especially for AI data centres, according to sifted.eu.
The funding round was finalized with Plural and HV Capital as main investors, reflecting confidence in Ore Energy's approach to energy storage. The startup plans to use the capital to scale production and accelerate deployment of its iron-air batteries, which offer longer discharge durations compared to conventional lithium-ion alternatives. Ore Energy's CEO highlighted the strategic importance of their technology in meeting the power requirements of large-scale AI infrastructure.
Long-duration energy storage is increasingly critical as AI data centres consume substantial power over extended periods. Ore Energy's iron-air batteries provide a cost-effective and sustainable alternative to lithium-ion batteries, which dominate the market but face limitations in duration and resource availability. This funding round places Ore Energy among a select group of startups focusing on next-generation storage solutions, aligning with Europe's ambitions to build resilient energy infrastructure for AI workloads.
Ore Energy's $43 million Series A round was announced on August 4, 2026, with Plural and HV Capital as lead investors. The company aims to advance its iron-air battery technology to support the continent's AI data centre power demands.