Startup bags €10M to harness the power of rust for energy storage

Dutch start-up Ore Energy has raised 10 million euros to move forward with its long-term energy storage solution based on iron. These so-called iron-air batteries generate electricity by oxidizing iron – ie creating rust – and are recharged through a reverse process of ‘unrusting.’ This reverse process traditionally poses a challenge, but Delft University of Technology spin-off Ore Energy has found a way do it efficiently. The young firm aims to bridge gaps in electricity supply and demand up to 100 hours at roughly 1/10th the cost of lithium-ion batteries.