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					</table><p>Finland-based <a href="https://www.thestorage.fi/" target="_blank" rel="noopener">TheStorage</a>, a provider of industrial thermal energy storage solutions, has raised €3.6 million (~$4.2 million) in a seed funding round to scale its technology and accelerate commercial deployment. To date, TheStorage has raised a total of €5.8 million (~$6.8 million) in funding.</p>
<p>The round was led by Voima Ventures, with participation from existing investors Superhero Capital and 2C Ventures, alongside new investor Momentum Partners.</p>
<p>The company is developing a sand-based thermal energy storage technology that converts electricity into heat using a “sand-in-motion” system designed to reduce industrial energy costs by up to 70% and emissions by up to 90% compared with fossil-fuel-based heat production.</p>
<p>Energy is stored when renewable electricity is available or when grid prices are low, and it can be used in any industrial process that requires hot steam or thermal oil. The company will use the funding for broader commercialization of its technology and to expand the team.</p>
<p>&#8220;One fifth of global energy consumption comes from industrial heat production, and hot steam is essential across virtually every industrial sector. We offer the best heat transfer solution on the market – up to ten times more efficient than competitors&#8217; static alternatives,&#8221;<strong> </strong>said Timo Siukkola, CEO and co-founder at TheStorage.</p>
<p>The company has already commissioned a pilot facility at Nokian Panimo, a Finnish brewery, where the system is being used to produce steam for industrial processes. The plant has a storage capacity of approximately 1 MWh, with a charging power of 0.2 MW and a discharging power of 0.4 MW.</p>
<p>According to Mercom’s Annual and Q4 2025 Funding and M&amp;A Report for Energy Storage <a href="https://mercomcapital.com/product/annual-q4-2025-funding-ma-report-storage/" target="_blank" rel="noopener">report</a>, VC funding in the Energy Storage sector in 2025 increased 30% YoY, to $4.8 billion across 75 deals, up from $3.7 billion across 84 deals in 2024.</p>
<p>In March, MGA Thermal, a provider of thermal energy-based long-duration energy storage systems, <a href="https://mercomcapital.com/thermal-energy-storage-company-mga-thermal-secures-12-million/" target="_blank" rel="noopener">secured</a> A$17 million (~$12 million) in funding. The latest round brings the total capital raised to more than A$50 million (~$35 million).</p>


Thermal Energy Storage Startup TheStorage Raises $4.2 Million Seed Funding


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					</table><p>UK-based <a href="https://www.exergy3.com/" target="_blank" rel="noopener">Exergy3</a>, a thermal energy storage startup, has raised £10 million (~$13.5 million) in a seed funding round, led by Axeleo Capital through its Article 9 Green Tech Industry I fund, with participation from Bayern Kapital and Kibo Invest.</p>
<p>Existing investors Scottish Enterprise, Zero Carbon Capital, and Old College Capital, the University of Edinburgh’s in-house venture investment fund, also participated in the round.</p>
<p>The company will use the funding to accelerate commercialization, including scaling its modular thermal energy storage systems and expanding its presence across industrial markets in Europe.</p>
<p>According to Exergy3, industrial heat accounts for a significant share of global energy demand and emissions but remains difficult to decarbonize because it relies on high, continuous temperatures across a wide range of processes.</p>
<p>The company aims to address this gap by linking excess renewable generation to industrial energy demand through modular thermal energy storage units that convert renewable electricity into high-temperature heat.</p>
<p>Exergy3 states that its technology is designed to deliver process heat ranging from 50°C to 1,200°C, allowing it to adapt to a wide range of industrial processes, from direct heat applications to steam generation, making it applicable across energy-intensive industries.</p>
<p>Markus Rondé, CEO at Exergy3, said: “These are two sides of the same problem. Industry needs reliable, high-temperature heat, while large amounts of renewable electricity are going to waste. Exergy3 brings them together, turning surplus renewable power into reliable, low-cost heat for industry. That means lower emissions, lower energy costs, and a more resilient energy system. This funding allows us to move rapidly from pilot to commercial deployment.</p>
<p>According to Mercom’s Annual and Q4 2025 Funding and M&amp;A Report for Energy Storage <a href="https://mercomcapital.com/product/annual-q4-2025-funding-ma-report-storage/" target="_blank" rel="noopener">report</a>, VC funding in the Energy Storage sector in 2025 increased 30% YoY, to $4.8 billion across 75 deals, up from $3.7 billion across 84 deals in 2024.</p>
<p>In March 2026,  MGA Thermal, a provider of thermal energy-based long-duration energy storage systems, <a href="https://mercomcapital.com/thermal-energy-storage-company-mga-thermal-secures-12-million/" target="_blank" rel="noopener">secured</a> A$17 million (~$12 million) in funding. The latest round brings the total capital raised to more than A$50 million (~$35 million).</p>


Thermal Energy Storage Company Exergy3 Raises $13.5 Million Seed Funding


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					</table><p><a href="https://www.rebound-tech.com/" target="_blank" rel="noopener">Rebound Technologies</a>, a U.S.-based thermal energy storage startup, has secured a $2 million strategic investment from KCC Manufacturing, a company that provides design, manufacturing, installation, and service in the HVAC industry.</p>
<p>KCC Manufacturing, which has supported Rebound since the early stages of its thermal cooling system&#8217;s development, is now strengthening its partnership through this investment.</p>
<p>Rebound Technologies has developed a proprietary thermal energy storage solution called IcePoint, which uses ice as a thermal battery to provide on-demand cooling, freezing, and dehumidification.</p>
<p>The technology uses off-peak electricity to produce and store ice, which is then used to deliver targeted cooling when demand is high. According to the company, by shifting energy use to off-peak periods, facilities can reduce peak energy loads while maintaining reliable performance.</p>
<p>The funding will help scale up manufacturing and speed up the deployment of Rebound’s IcePoint systems in industries with high cooling needs, such as data centers, food processing, and district cooling.</p>
<p>&#8220;This investment reflects the strength of our collaboration with KCC and the progress we have made moving IcePoint from innovation to commercial deployment,&#8221; said Eric Kish, CEO of Rebound Technologies. &#8220;As demand grows for flexible cooling and energy solutions, scaling manufacturing is a critical step in delivering our technology to customers who need both performance and efficiency.&#8221;</p>
<p>According to Mercom’s Annual and Q4 2025 Funding and M&amp;A Report for Energy Storage <a href="https://mercomcapital.com/product/annual-q4-2025-funding-ma-report-storage/" target="_blank" rel="noopener">report</a>, VC funding in the Energy Storage sector in 2025 increased 30% YoY, to $4.8 billion across 75 deals, up from $3.7 billion across 84 deals in 2024.</p>
<p>In March 2026, MGA Thermal, a provider of thermal energy-based long-duration energy storage systems, <a href="https://mercomcapital.com/thermal-energy-storage-company-mga-thermal-secures-12-million/" target="_blank" rel="noopener">secured</a> A$17 million (~$12 million) in funding. The latest round brings the total capital raised to more than A$50 million (~$35 million). IP Group Australia joins as a new investor alongside Main Sequence, with Shane Meaney taking a board seat to support MGA Thermal’s global scale-up.</p>


Thermal Energy Storage Startup Rebound Technologies Secures $2 Million

<p>Headquartered at Pune in Maharashtra, <a href="https://www.ecozensolutions.com/" target="_blank" rel="noopener noreferrer">Ecozen</a>, a provider solar cold storage and solar pumps, has completed $6 million (~₹423 million) in Series A fundraise. Sathguru Catalyser’s Innovation in Food and Agriculture Fund (IFA fund) is the investor.</p>
<p>According to the company, the funding is in addition to the investment received in July 2019 from Caspian and the Hivos-Triodos Fund. Omnivore, which originally invested in Ecozen in 2015, also participated.</p>
<p>According to the company, Ecozen’s three main products include Ecofrost, Ecotron, and Eco-Connect.</p>
<p>Ecotron &#8211; a solar pump controller, helps in remote operation of solar pumps by its intelligent monitoring system, integrated with the internet, and managed by mobile or smartphone.</p>
<p>“One of the biggest costs for farmers in India is to run water pumps using diesel generators. The solar water pump system is the best solution for running water pumps in remote areas where grid supply is either erratic or not available at all,” a company spokesperson told Mercom.</p>
<p>Similarly, Ecofrost, a solar-powered, portable cold room based on thermal energy storage, has the capacity of 5 kW of solar installation, informed the company spokesperson.</p>
<p>“It has the battery-less backup for nearly 24 to 30 hours,” he added.</p>
<p>Devendra Gupta, co-founder, and CEO of Ecozen, said, “The funding raised will enable us to expand our product range, production capacity, and enter new geographies. We will also increase the deployment of our leasing based cold chain solution and scale up Eco-Connect massively.”</p>
<p>Eco-Connect is a market linkage platform for farmers growing perishables, and it connects them digitally to potential buyers, including exporters, retailers, and processors.</p>
<p>Commenting on their investment, Vijayaraghavan Kannan, senior partner at IFA Fund, said, “Ecozen has focused on using technology as a differentiator and has pioneered innovative products addressing market imperfections and catering to underserved segments of agriculture and food value chain.”</p>
<p>To encourage the use of renewable energy among farmers, the Ministry of New and Renewable Energy (<a href="https://mnre.gov.in/">MNRE</a>) launched the Kisan Urja Suraksha evam Utthan (KUSUM) program for farmers for the installation of solar pumps and grid-connected solar, and other renewable power projects in the country.</p>
<p>Recently, <a href="https://mercomindia.com/rajasthan-invites-lease-land-solar-kusum-program/" target="_blank" rel="noopener noreferrer">Mercom</a> reported that the Rajasthan Renewable Energy Corporation (RREC) invited applications from interested bidders to set up solar projects on their own or offer their land on lease under component-A of the KUSUM program.</p>
<p>Image credit: Ecozen</p>


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