[Funding news] CA-based Redoxblox Secures $40.7Million in Series A Round Funding

Redoxblox, a company that makes affordable thermochemical energy storage systems (TCES), has raised $40.7 million in Series A funding. The funding round was led by Prelude Ventures, with support from Imperative Ventures, New System Ventures, and existing investors Breakthrough Energy Ventures and Khosla Ventures.

The company plans to use the funds to grow its operations and expand its business. Redoxblox’s TCES systems are designed to help industries reduce carbon emissions and meet long-term energy storage needs for the power grid.

These TCES units store energy both chemically and as heat at very high temperatures, which can be released continuously or as needed for industrial processes or electricity generation.

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The company has also announced a new CEO, Pasquale Romano. He was previously the President and CEO of ChargePoint and is currently a member of the President’s National Infrastructure Advisory Council. Romano will lead the company as it grows and expands into important markets for industrial heat and long-term energy storage.

About Redoxblox

Based in San Diego, Redoxblox is creating a new type of affordable thermochemical energy storage system (TCES). These systems aim to help industries reduce carbon emissions and meet long-term energy storage needs for the power grid. The TCES units store energy both chemically and as heat at very high temperatures, which can be released continuously or as needed for industrial processes or electricity generation.