---
title: "Ore Energy's $43M Series A: Europe's Iron-Air Bet for Multi-Day Grid Storage"
description: "Amsterdam's Ore Energy raised $43M Series A from Plural and HV Capital to manufacture iron-air batteries after a 1 GWh Budget Thuis deal and EDF pilots."
date: 2026-08-04T00:00:00.000Z
tags: ["2026-vc-news", "startup-funding", "venture-capital", "climate-tech", "energy-storage", "europe"]
source: https://venturecapitaltracker.com/2026-ore-energy-43m-series-a-iron-air
---

# Ore Energy's $43M Series A: Europe's Iron-Air Bet for Multi-Day Grid Storage

> Amsterdam's Ore Energy raised $43M Series A from Plural and HV Capital to manufacture iron-air batteries after a 1 GWh Budget Thuis deal and EDF pilots.

Lithium-ion wins hours. Grids fail on **days**. Amsterdam-based **Ore Energy** raised **$43 million Series A** on August 4, 2026 (Plural and HV Capital leading; Positron Ventures in) to manufacture iron-air batteries that store power for up to **~100 hours**. Total raised: **~$61 million**.

### Deal snapshot
| Field | Detail |
|---|---|
| Amount | $43M Series A |
| Leads | Plural, HV Capital |
| Also | Positron Ventures |
| Use of proceeds | First manufacturing facility; GWh-scale ambition by 2028 |
| Origin | Delft University of Technology spinout (founded 2023) |

### Who uses the product
Buyers are **utilities and energy retailers**, not consumers:
- **Budget Thuis** (Dutch supplier) — up to **1 GWh** iron-air deployment; **400 MWh** phase one targeted for **2028** (company-described as continental Europe's largest iron-air agreement).
- **EDF** — grid-connected pilot in France under real utility conditions (up to four days of storage demonstrated in the 2025 test window).

Systems ship as modular containers daisy-chained for capacity. Chemistry: oxidize/deoxidize iron electrodes ("rust and unrust") using abundant materials — iron, water, air.

### Why now
AI data centers, re-industrialization, and renewable penetration collide on the same constraint: **firm, affordable electrons**. Lithium covers short peaks; multi-day lulls still pull fossil peakers. Ore's raise lands the same week as other AI-infra checks — storage is becoming part of the AI capex stack, not a separate climate niche.

### Investor fit (honest scope)
Plural and HV Capital are European early-stage / growth firms (not yet profiled as separate entities in our U.S.-heavy directory). The round still maps to climate-tech checkbooks like [Energy Impact Partners](/fund/energy-impact-partners) and [Energy Transition Ventures](/fund/energy-transition-ventures) in *category* — long-duration storage for grids — even though they are not disclosed participants here.

Likely reasons Ore took Plural + HV:
1. **European industrial policy alignment** (local supply chain story).
2. **Manufacturing capital** before 2028 delivery dates.
3. **Climate-deep networks** for utility procurement.

### Competitive map
| Company | Region / note |
|---|---|
| Form Energy | U.S. iron-air leader; $1B+ raised historically |
| Ore Energy | European supply chain + utility LOIs |
| Lithium LDES alternatives | Different chemistries / durations |

### When not to overclaim
- Round-trip efficiency lags lithium — bulk and land use can kill siting.
- 2028 delivery slips turn LOIs into stranded narrative.
- Policy subsidies, not physics, may decide winners.

### Practical takeaway
**Operators / utilities:** Diligence **$/kWh-capacity**, duration, and local content — not just chemistry novelty.  
**Investors:** Iron-air is a **manufacturing race**; the Series A only buys a factory option.

### Sources
1. Energy-Storage.News: https://www.energy-storage.news/european-multi-day-energy-storage-startup-ore-energy-raises-us43-million-in-series-a/
2. The Next Web: https://thenextweb.com/news/ore-energy-43m-iron-air-battery-series-a
3. Tech.eu: https://tech.eu/2026/08/04/multi-day-energy-startup-ore-energy-clinches-43m-in-new-investment-round/
4. Electrek: https://electrek.co/2026/08/04/europe-is-betting-big-on-a-battery-that-runs-for-four-days/