What Ore Energy does

Ore Energy is a Netherlands-based pre-revenue hardware startup developing iron-air batteries for long-duration energy storage (LDES). Founded in 2022 by scientist Aytac Yilmaz and headquartered in Amsterdam with engineering operations in Delft, the company targets European utilities, grid operators, energy suppliers, and — as an emerging use case — data centers requiring multi-day storage to bridge gaps in renewable generation. Its sole commercial product, branded "The Ore Battery," is designed to deliver 24 to 100 hours of discharge duration at MWh to GWh scale, with the first commercial delivery (a 400 MWh phase of an up-to-1 GWh agreement with Dutch supplier Budget Thuis) scheduled for 2028.

The underlying technology is an iron-air electrochemical cell operating via reversible rusting and unrusting of metallic iron. During discharge, metallic iron is oxidized (rusted) in the presence of air, releasing electrons as electrical current; during charge, electrical current reverts the rust back to metallic iron. The cell uses only iron, water, and air as active materials, with a water-based electrolyte that circulates hydroxyl ions between the anode and cathode. The architecture is modular and plug-and-play, designed to be deployed at any scale from MWh to GWh without dependence on lithium, cobalt, nickel, or other critical minerals largely sourced from Chinese supply chains. Materials are non-flammable, eliminating thermal runaway risk, and are fully recyclable.

Ore Energy generates revenue through hardware sales of utility-scale iron-air battery systems to enterprise customers via a direct B2B enterprise sales motion. Pricing is not publicly disclosed, though the company claims up to a 10x cost reduction versus lithium-ion systems. As of mid-2026 the company is pre-revenue, with revenue-generating commercial deliveries scheduled to begin in 2028 following scale-up of a dedicated manufacturing facility targeted for 2027 operations. The company has been financed through a ~$10.8M equity round (Positron Ventures, SPRIN-D, May 2024), a ~$378K UNIIQ investment, and non-dilutive grants from the European Innovation Council (EIC Accelerator) and Kansen voor West, and is currently raising additional capital to fund manufacturing build-out.

Name

Ore Energy

Legal name

Ore Energy B.V.

Website

https://oreenergy.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Ore Energy is a Netherlands-based pre-revenue hardware startup developing iron-air long-duration energy storage batteries with up to 100-hour discharge capacity. The company targets European utilities, grid operators, and data centers needing cost-effective multi-day renewable energy storage.

Ownership category

akta.pro rank

Product category

Long-Duration Energy Storage Systems

NAICS

Battery Manufacturing (33591)

SIC

Metal Mining (1000)

akta.pro primary industry

Energy Storage Systems (BESS, Flywheels, Batteries) (HDABAKAC)

akta.pro secondary industry

Battery Raw Materials Mining & Refining (Lithium, Nickel, Cobalt, Manganese, Graphite) (EUAFABAA)

Keywords

• Iron-air batteries
• Long-duration storage
• Grid-scale batteries
• Renewable energy storage
• Utility-scale energy storage

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Supply Chain, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Iron-Air Battery Hardware Sales: Ore Energy sells utility-scale iron-air battery systems (long-duration energy storage) to utilities, grid operators, and energy companies. The company is targeting scaled production by 2027, with the 1 GWh agreement with Budget Thuis representing its first major commercial contract. Revenue is generated through the sale of battery systems, likely with associated installation, commissioning, and potentially long-term service components.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Ore Energy designs and manufactures the "Ore Battery," an iron-air long-duration energy storage system that stores electricity for 24 to 100 hours using only abundant materials (iron, water, and air). The technology operates through reversible rusting and unrusting of metallic iron and is built as a modular, plug-and-play system scalable from MWh to GWh for utility-scale renewable integration.

Product overview

Ore Energy offers a single core product: The Ore Battery, an iron-air long-duration energy storage system. The product is based on a modular, scalable design using abundant materials (iron, water, air) and provides 100-hour storage duration. The battery operates through reversible electrochemical reactions (rusting/derusting) and is designed for utility-scale applications to enable multi-day renewable energy storage and grid balancing.

Differentiator

Problem solved

Functional benefit

Products and services

• The Ore Battery (Iron-Air Battery) A long-duration iron-air battery energy storage system that stores electricity for 24 to 100 hours using only abundant materials (iron, water, and air). The battery operates through reversible rusting and unrusting of metallic iron, is non-flammable, fully recyclable, and is built as a modular plug-and-play system deployable from MWh to GWh for utilities, grid operators, energy suppliers, and data centers.

Quantifiable outcome

• Up to 10× cheaper than existing lithium-ion batteries
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Five partnerships are on record, tiered core and supporting.

• Budget ThuiscoreStrategic or Co-development Partner · 22 June 2026Dutch energy supplier Budget Thuis signed an agreement with Ore Energy to deploy up to 1 GWh of multi-day iron-air batteries — the largest iron-air storage agreement in continental Europe. The first committed phase of 400 MWh is targeted for delivery in 2028. The system will use modular iron-air technology to store wind energy over multiple days, reducing Budget Thuis's dependence on volatile fossil fuel prices.
• EDF R&D LaboratoriescoreStrategic or Co-development Partner · 10 February 2026Ore Energy completed a 100-hour iron-air LDES pilot at EDF Lab les Renardières in France under the EU's StoRIES programme. The grid-connected feasibility and operability evaluation tested multi-day system behavior in a live utility environment, collecting operational data over several months. This was Europe's first grid-connected iron-air battery at an operational utility facility.
• TNO (RenewaFLEXNL Consortium)coreStrategic or Co-development Partner · 10 February 2026Ore Energy participates in the RenewaFLEXNL consortium coordinated by TNO, a 3-year project with 17 partners to integrate long-duration energy storage (8–100 hours) into the Dutch energy system. The project tests iron-air storage technology in Rotterdam port, De Kwakel greenhouses, and the Altena region, targeting grid congestion, price volatility, and renewable supply-demand mismatch. Ore Energy contributes iron-air systems as one of three storage technologies under investigation.
• StoRIES Programme (EU)supportingOthersThe EU's Storage Research Infrastructure Eco-System (StoRIES) programme funded and supported the multi-day iron-air storage pilot at EDF Lab les Renardières. The programme supports research infrastructure for energy storage technologies in Europe.
• The Green Village (TU Delft)supportingStrategic or Co-development PartnerOre Energy's first grid-connected iron-air battery system in Delft was installed at The Green Village at TU Delft, marking Europe's first grid-connected iron-air battery deployment and serving as a technology demonstration site.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Malta Inc. US-based startup developing pumped heat energy storage for long-duration grid applications. Targets the same multi-day LDES gap with alternative non-lithium thermal-mechanical approach for utility-scale deployments.
• Energy Vault: Swiss/US-listed company developing gravity-based and hybrid LDES systems for utility-scale multi-hour to multi-day storage. Targets the same utility and grid operator customers as Ore Energy with an alternative non-Li-ion chemistry approach.
• ESS Inc. US-based manufacturer of iron flow batteries for long-duration utility-scale storage. Uses iron-based chemistry at grid scale, providing a directly comparable LDES solution to Ore Energy's iron-air technology with overlap on target customers and use cases.
• Highview Power: UK-based developer of liquid air energy storage (LAES) for long-duration grid-scale applications. Targets the same utility and European LDES market with an alternative non-lithium long-duration chemistry.
• Invinity Energy Systems: UK-based manufacturer of vanadium flow batteries targeting utility-scale and commercial long-duration storage. Competes in the same multi-hour grid storage segment as Ore Energy with comparable modular, scalable architecture.
• Eos Energy Enterprises: US-listed manufacturer of zinc-based battery storage systems for utility-scale long-duration applications. Competes in the same LDES market as Ore Energy with alternative non-lithium chemistry targeting similar utility customers.
• Form Energy: US-based developer of iron-air long-duration energy storage batteries targeting 100+ hour discharge durations. Most direct competitor to Ore Energy, using the same iron-air chemistry but with a significantly larger capital base and earlier commercialization scale.
• Antora Energy: US-based startup developing thermal energy storage systems for industrial and grid applications. Targets the same multi-day, low-cost LDES gap that Ore Energy addresses with an alternative non-lithium approach.

Broad incumbents

• Saft (TotalEnergies): French battery manufacturer (subsidiary of TotalEnergies) producing industrial and grid-scale lithium-ion battery storage systems. Competes broadly with Ore Energy in the European utility storage market with established Li-ion product portfolio.

Emerging players

• Natel Energy: US-based developer of hydrokinetic and restoration-friendly energy technologies with adjacent LDES interests. Comparable as an early-stage climate tech hardware company targeting renewable integration markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ore-energy
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Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds5 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ore Energy