Exergy3
Exergy3 is a UK cleantech company that designs modular electro-thermal energy storage systems converting surplus renewable electricity into ultra-high temperature heat (up to 1,200°C) for industrial decarbonisation, serving energy-intensive sectors such as distilleries, chemicals, cement, and pharmaceuticals.
- Company typePrivate
- Founded2023
- HeadquartersEdinburgh, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Exergy3 does
Exergy3 is a UK cleantech company that develops modular electro-thermal energy storage (ETES) systems for industrial decarbonisation. Spun out of the University of Edinburgh in May 2023, it converts surplus and curtailed renewable electricity into heat stored at temperatures up to 1,200°C, then delivers process heat across a 50–1,200°C range via hot gas or steam. The technology centres on proprietary ultra-high temperature heating elements, a multi-layer insulation architecture with thermal masking and heat recovery, and aerodynamic heat exchangers that minimise discharge-side pressure drop. Each compact module (garage-sized footprint) stores more than 10MWh with less than 1% thermal loss per day and up to ~96% round-trip efficiency.
The company's commercial offering is a hardware-led, quote-based sale of modular units integrated into customers' existing thermal infrastructure, supplemented by participation in demand-side response and the UK National Energy System Operator's Local Constraint Market via a partnership with Flexitricity, which layers a usage-based flexibility revenue stream onto the hardware. GTM is enterprise field sales targeted at large industrial heat consumers — distilleries and brewing, chemicals and petrochemicals, cement and concrete, paper and packaging, pharmaceuticals, district heating, data centres, wood processing, and mining — with engineering-led integration and the option to co-fire with existing fossil fuel systems during transition.
Following a £3.6M UK government grant (May 2023), a £1M pre-seed (September 2024), and a £10M seed round led by Axeleo Capital (April 2026), the company commissioned its first commercial-scale 30MWh demonstrator at Annandale Distillery and opened a European headquarters in Munich (March 2025) to support expansion into Germany and broader EU industrial markets. The company is headquartered in Edinburgh with 11–50 employees and is privately held, backed by Zero Carbon Capital, Old College Capital, Scottish Enterprise, Bayern Kapital, and Kibo Invest.
Exergy3 firmographics
Firmographics- Name
- Exergy3
- Legal name
- Exergy3 Limited
- Website
- https://exergy3.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Exergy3 is a UK cleantech company that designs modular electro-thermal energy storage systems converting surplus renewable electricity into ultra-high temperature heat (up to 1,200°C) for industrial decarbonisation, serving energy-intensive sectors such as distilleries, chemicals, cement, and pharmaceuticals.
- Ownership category
- akta.pro rank
Exergy3 industry classification
Industry- Product category
- Industrial Thermal Energy Storage
- NAICS
- Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341)
- SIC
- Industrial Process Furnaces & Ovens (3567), Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures (3430)
- akta.pro primary industry
- Hybrid Renewable + Storage Plant Integration (Solar+Storage, Wind+Storage) (EUAEAEAE)
- akta.pro secondary industries
- Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC), Battery Containerization, Enclosures & HVAC / Thermal Management Integration (EUAEAEAH)
Keywords
Where Exergy3 is headquartered
LocationHeadquarters
- HQ city
- Edinburgh
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
Exergy3 business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Supply Chain, Personnel, Operations, Marketing or Sales
Revenue model
- Thermal Energy Storage Hardware Sales & Installation: Exergy3 sells and installs modular thermal energy storage systems to industrial customers. The systems convert surplus renewable electricity into stored heat, with revenue derived from equipment sale, installation, and integration with existing industrial infrastructure. The modular design allows scalable deployment from SMEs to large industrial sites. The company saves up to 60% on installation costs through factory-manufactured components integrated with existing infrastructure.
- Energy Storage Services & Demand-Side Response: Exergy3's systems participate in demand-side response programmes and grid flexibility markets, generating additional revenue for customers by helping balance the grid. The technology enables users to benefit from peaks and troughs in the electricity market, participating in National Energy System Operator's Local Constraint Market (LCM).
- Industrial Heat Supply (On-Demand Heat as a Service): Exergy3 delivers heat on demand to industrial processes, charging when electricity prices are lowest and discharging heat when needed. The system can co-fire with traditional fuel sources, providing a hybrid heat supply model that cuts CO₂ emissions while shielding businesses from high energy costs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Modular thermal energy storage units priced per module based on capacity and site requirements |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels7 records
Exergy3 product offering
Product offeringCore offering
Exergy3 designs, manufactures, sells, and installs modular electro-thermal energy storage (ETES) systems that convert surplus renewable electricity into ultra-high temperature heat (up to 1,200°C) for industrial process applications. Each compact module delivers over 10MWh of storage capacity with less than 1% thermal loss per day and up to 96% round-trip efficiency, providing industrial heat customers with on-demand low-carbon process heat from 50°C to 1,200°C while enabling demand-side response and grid flexibility revenue.
Product overview
Exergy3 offers a modular thermal energy storage system that converts surplus renewable electricity into ultra-high temperature heat for industrial decarbonization. The Electro-Thermal Energy Storage (ETES) system stores energy at temperatures up to 1,200°C with less than 1% thermal loss per day, delivering process heat between 50°C and 1,000°C. The modular architecture allows deployment from SMEs to large industrial sites, with each compact module exceeding 10MWh storage capacity and achieving round-trip efficiency of up to 96%.
Differentiator
Problem solved
Functional benefit
Products and services
- Modular Electro-Thermal Energy Storage (ETES) System Factory-manufactured modular electro-thermal energy storage system that converts surplus renewable electricity into ultra-high temperature heat (up to 1,200°C) and delivers process heat from 50°C to 1,200°C as hot gas or steam for industrial customers. Each compact module provides more than 10MWh of storage with less than 1% thermal loss per day and up to 96% round-trip efficiency, integrating with existing plant infrastructure for distilleries, breweries, chemicals, cement, paper, pharmaceuticals, and district heating operators.
Quantifiable outcome
- Less than 1% thermal loss per day at operating temperatures up to 1,200°C
- +7 more outcomes
Companies that use Exergy3
Customer profileNamed customers2 records
Segments10 records
Ideal customer profiles1 record
Exergy3 technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Exergy3 partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered key delivery partner, strategic partner and flagship customer & development partner.
- Cochran Ltdkey delivery partnerUK's trusted leader in industrial boiler manufacturing, chosen to supply the boiler for the Annandale Distillery project for its commitment to sustainability and solutions-orientated approach. Cochran's 3MW boiler converts Exergy3's hot air (up to 530°C) into green steam at 10 bar pressure for the distilling process. Eric Daglish from Cochran noted growing industry interest in alternatives to fossil fuels.
- Flexitricitystrategic partnerEnergy flexibility partner working with Exergy3 to participate in National Energy System Operator's Local Constraint Market (LCM) – a trial local flexibility market in Scotland designed to improve constraint management. Dr Alastair Martin, CSO at Flexitricity, provided a customer testimonial praising Exergy3's ability to address flexibility revenue, energy price exposure, and grid-friendly electrification of industrial heat simultaneously.
- Annandale Distilleryflagship customer & development partnerFlagship deployment partner hosting the first-of-a-kind full-scale prototype. Exergy3 partnered with Annandale Distillery and Cochran Ltd to deliver the pioneering decarbonised heat project. Prof. David Thomson, cofounder of Annandale Distillery, stated the technology is a first globally for delivering high-temperature heat without fossil fuels economically while helping tackle electricity system balancing costs.
Scale indicators12 records
Recent moves8 records
Expansion highlights6 records
Exergy3 competitors and assessment
Company assessmentEmerging players
- 1414 Degrees: Australian molten silicon thermal energy storage developer targeting industrial heat and grid storage. Comparable technology category but at an earlier commercialization stage.
- Synhelion: Swiss-German solar thermal fuel producer using concentrated solar for high-temperature industrial processes. Adjacent technology path addressing the same industrial heat decarbonization challenge.
Direct peers
- Energy Dome: Italy-based long-duration energy storage company using CO2 battery technology. Competes with Exergy3 in grid-scale and industrial storage, though focused on electricity rather than process heat.
- Kraftblock: German industrial heat storage company using recycled steel slag as a storage medium. European competitor serving similar industrial decarbonization applications, particularly relevant given Exergy3's Munich expansion.
- Antora Energy: California-based thermal energy storage developer converting renewable electricity into heat for industrial decarbonization. Directly comparable to Exergy3 in electro-thermal storage, though typically operating at lower temperature ranges.
- Rondo Energy: Industrial heat battery provider delivering high-temperature thermal storage to heavy industry. Closest direct competitor in the industrial heat decarbonization segment Exergy3 serves.
- Brenmiller Energy: Israeli thermal energy storage company with bGen thermal battery systems serving industrial and utility customers. Competes in the same industrial heat decarbonization market as Exergy3.
Broad incumbents
- Siemens Energy: Global energy technology incumbent with industrial electrification, hydrogen, and storage offerings. Represents the broader competitive threat from established players entering industrial decarbonization.
Others
- Cochran Ltd: UK industrial boiler manufacturer partnering with Exergy3 on the Annandale Distillery project. Adjacent equipment supplier enabling integration rather than direct competitor.
- Flexitricity: UK energy flexibility aggregator partnering with Exergy3 to access grid balancing markets. Ecosystem partner enabling the demand-side response revenue stream rather than competing storage technology.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Exergy3 social profiles
Digital presenceExergy3 financial estimates
Financial estimateRevenue estimate
Valuation estimate
Exergy3 leadership team
Management profileNumber of profiles
Profiles8 records
Exergy3 subsidiaries and ownership
Company hierarchySubsidiaries1 record
Exergy3 funding detail
Funding detailFunding overview
Funding rounds5 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Exergy3 M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Exergy3
What does Exergy3 do?
Exergy3 designs, manufactures, sells, and installs modular electro-thermal energy storage (ETES) systems that convert surplus renewable electricity into ultra-high temperature heat (up to 1,200°C) for industrial process applications. Each compact module delivers over 10MWh of storage capacity with less than 1% thermal loss per day and up to 96% round-trip efficiency, providing industrial heat customers with on-demand low-carbon process heat from 50°C to 1,200°C while enabling demand-side response and grid flexibility revenue.
Is Exergy3 a public or private company?
Exergy3 is a private company. It is classified as venture growth investor backed and is currently operating.
When was Exergy3 founded?
Exergy3 was founded in 2023. It employs 11 to 50 people.
Where is Exergy3 based?
Exergy3 is headquartered in Edinburgh, United Kingdom, in the Europe region.
How does Exergy3 make money?
Three revenue lines are on record. Thermal Energy Storage Hardware Sales & Installation is the primary driver. The others are energy Storage Services & Demand-Side Response and industrial Heat Supply (On-Demand Heat as a Service).
Who are Exergy3's main competitors?
Emerging players on record are 1414 Degrees and Synhelion. Direct peers are Energy Dome, Kraftblock, Antora Energy, Rondo Energy and Brenmiller Energy. Siemens Energy is listed as a broad incumbent. Others are Cochran Ltd and Flexitricity.
Does Exergy3 have an API?
No public API is recorded for Exergy3.
What industry is Exergy3 in?
Exergy3's product category is Industrial Thermal Energy Storage. Its primary akta.pro industry code is EUAEAEAE, Hybrid Renewable + Storage Plant Integration (Solar+Storage, Wind+Storage), with a secondary code of IMAHAKAC, Heat Exchangers & Thermal Transfer Equipment. Its NAICS code is 333415 and its SIC code is 3567.