Antora Energy Raises $550M Series C Led by G2 and Eclipse
Antora Energy announced Thursday it has raised $550 million in a Series C funding round. G2 Venture Partners and Eclipse co-led the round with participation from Decarbonization Partners, Lowercarbon Capital, Breakthrough Energy Ventures, John Doerr, Ribbit Capital and others. The company has now raised $770 million since its 2017 founding, according to Crunchbase News. It previously raised $150 million in a Series B round in February 2024.
Use of Proceeds and Recent Deployment
Antora will use the capital to accelerate deployment of large-scale thermal battery projects across the United States to meet surging energy demand from AI data centers. The company recently deployed a 5 gigawatt-hour battery storage project in South Dakota that it describes as one of the world’s largest.
Technology Description
Antora’s thermal batteries store low-cost electricity as heat in insulated blocks of solid carbon and deliver it as heat or power. The same factory-built modules can serve chemical plants, food producers, steelmakers, data centers or the grid without supply-constrained critical minerals or multi-year construction timelines. The company’s San Jose, California factory ranks among the country’s largest battery gigafactories.
Funding Context
Cleantech venture investment has been relatively modest in recent years, and Antora’s raise marks one of the sector’s largest this year. Crunchbase data shows investors put more than $15 billion into seed- through growth-stage rounds for companies in cleantech, EV and sustainability categories in the first half of 2026, according to Crunchbase News. That pace would slightly exceed the 2025 total, which was the lowest in several years and well below the highs reached in 2021 and 2022.
“From factories to data centers, energy is the bottleneck to industrial growth,” said Andrew Ponec, co-founder and CEO of Antora, in a release. “Antora has shown we can help break that bottleneck—delivering energy fast, at massive scale, with American innovation.”
