Antora Energy

What Antora Energy does

Antora Energy is a 2017 MIT spin-out headquartered in Sunnyvale, California, that designs and manufactures modular thermal battery systems for industrial and data-center customers. Its core product stores surplus clean electricity as heat in solid-carbon blocks at temperatures up to 4,000°F (approximately 2,200°C), then discharges either as high-temperature process heat for industry or as electricity through proprietary thermophotovoltaic (TPV) cells that have achieved 40% conversion efficiency at 1,900–2,400°C, surpassing the historical 32% benchmark. Factory-built modules scale from megawatts to gigawatts and are deployed on customer sites under long-term heat and power offtake agreements.

The company targets industrial facilities — including renewable fuels, chemicals, refining, steel, concrete, mining, pulp and paper, and food and beverage — as well as data centers requiring large volumes of low-cost, reliable electricity. Its flagship deployment, Project Big Stone, is a 5 GWh system at POET's Big Stone City, South Dakota bioprocessing facility, delivering 50 MW of around-the-clock energy under a long-term offtake agreement enabled by a bespoke utility tariff developed with Otter Tail Power and approved in Minnesota, North Dakota, and South Dakota. The company has raised approximately $200M cumulatively, including a $150M Series B led by BlackRock and Temasek in February 2024, and has received ARPA-E support ($7.9M in 2019, $14.5M selected in 2024).

Revenue derives from hardware sales of thermal battery systems combined with long-term, recurring offtake agreements for continuous heat and power delivery. Customers are reached through enterprise field sales and utility partnerships (Otter Tail Power, Con Edison, with a potential Shell project in development). Manufacturing is based in San Jose, California, where Antora doubled its footprint to approximately 101,000 square feet in 2026 to meet growing demand, particularly from data centers. The company acquired Medley Thermal in December 2022 to consolidate thermal-storage IP.

Name

Antora Energy

Legal name

Antora Energy

Website

https://antoraenergy.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

251–500 employees

Short description

Antora Energy is a 2017 MIT spin-out that builds modular thermal battery systems using solid-carbon blocks and proprietary thermophotovoltaic cells to deliver low-cost, always-on heat and power to industrial facilities and data centers under long-term offtake agreements.

Ownership category

akta.pro rank

Product category

Industrial Thermal Energy Storage

NAICS

Power Boiler and Heat Exchanger Manufacturing (33241), Electric Power Generation (22111), Steam and Air-Conditioning Supply (22133)

SIC

Cogeneration Services & Small Power Producers (4991), Heating Equipment, Except Electric & Warm Air Furnaces (3433), Industrial Process Furnaces & Ovens (3567)

akta.pro primary industry

Thermal LDES (High-Temperature, Molten Salt, Carnot/Heat-to-Power) (EUAFADAC)

akta.pro secondary industries

Industrial Process Heat TES (Steam, Kilns, Furnaces, Waste-Heat Coupling) (EUAFANAI), Onsite Low-Carbon Heat & CHP (Electrified CHP, Fuel Cells, Renewable CHP) (EUABAJAI), TES Components & Balance-of-Plant (Heat Exchangers, Tanks, Insulation, Pumps, Valves) (EUAFANAL)

Keywords

• Thermal energy storage
• Industrial decarbonization
• Thermal battery systems
• Clean heat and power
• Long-duration storage

Headquarters

HQ city

San Jose

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Thermal Battery System Sales: Antora Energy sells thermal battery systems to industrial customers for on-site energy storage and delivery. Systems are deployed under long-term heat offtake agreements, providing customers with 50 MW of around-the-clock energy at competitive pricing.
2. Long-term Heat/Power Offtake Agreements: Under long-term offtake agreements, Antora provides industrial facilities with continuous heat and power delivery, creating recurring revenue streams. Example: Project Big Stone provides POET with 50 MW of competitively priced, around-the-clock energy.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Antora Energy manufactures modular thermal battery systems that use solid carbon blocks to store energy as heat at up to 4,000°F. The systems charge from surplus clean electricity and then either dispatch electricity via proprietary thermophotovoltaic (TPV) cells or deliver high-temperature heat directly to industrial customers, enabling 24/7 clean heat and power.

Product overview

Antora Energy offers a unified thermal battery product system for industrial heat and power applications. The core product consists of modular thermal battery units that store cheap, clean electricity as heat in solid carbon blocks, capable of delivering always-on heat and power at industrial scale. The system integrates proprietary thermophotovoltaic (TPV) cells for electricity conversion and can also supply high-temperature process heat directly. Factory-built modules scale from megawatts to gigawatts, serving industries including renewable fuels, food & beverage, data centers, chemicals, mining, concrete & lime, pulp & paper, refining, and steel & iron. Project Big Stone represents the company's first large-scale commercial deployment.

Differentiator

Problem solved

Functional benefit

Products and services

• Thermal Battery System Modular, factory-built thermal battery system that stores energy as heat in solid carbon blocks at up to 4,000°F and discharges electricity via thermophotovoltaic (TPV) cells or delivers high-temperature heat directly. Designed for industrial facilities, data centers, and utilities requiring always-on clean heat and power.

Quantifiable outcome

• 40% TPV conversion efficiency at 1,900-2,400°C
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered flagship, core and potential.

• Otter Tail PowerflagshipStrategic or Co-development Partner · 27 May 2026Otter Tail utility worked with Antora and POET to develop a specialized 'thermal market energy pricing rider' tariff that links Antora's electricity draw to periods of surplus renewable energy, enabling competitive pricing. The tariff has been approved in Minnesota, North Dakota, and South Dakota.
• POETcoreStrategic or Co-development Partner · 19 May 2026Antora and POET commissioned a 5 GWh thermal battery system at POET's Big Stone City bioprocessing facility in South Dakota. Under a long-term heat offtake agreement, the system provides 50 MW of competitively priced, around-the-clock energy to increase bioethanol production. The project was completed in under one year.
• Con EdisoncoreStrategic or Co-development Partner · 25 June 2024Antora Energy was selected by ARPA-E to negotiate a $14.5 million award for its combined heat and power thermal battery product, including partnerships with Con Edison for industrial and utility applications.
• ShellpotentialStrategic or Co-development Partner · 25 June 2024Antora Energy was selected by ARPA-E for a $14.5 million award, including a potential project with Shell as part of the funding to enable gigaton-scale decarbonization in the industrial sector.

Scale indicators8 records

Recent moves8 records

Expansion highlights8 records

Direct peers

• Highview Power: Highview Power develops liquid air energy storage (LAES) plants for grid-scale long-duration storage, directly competing with Antora in the long-duration energy storage category for industrial and utility customers.
• Energy Vault: Energy Vault develops gravity- and thermal-based long-duration energy storage systems and competes head-to-head with Antora for utility-scale LDES and industrial decarbonization contracts globally.
• Rondo Energy: Rondo Energy is the closest direct peer — it industrializes thermal energy storage for industrial heat decarbonization, using heated solid media and serving overlapping customers (chemicals, food & beverage, refining) with similar factory-built modular hardware.
• ESS Inc. ESS Inc. builds iron-flow batteries for long-duration storage, targeting utility and industrial customers seeking multi-hour to multi-day discharge — a competing LDES technology path to Antora's thermal storage.
• Brenmiller Energy: Brenmiller Energy produces bGen thermal storage systems for industrial steam and heat, targeting the same industrial heat decarbonization use case as Antora with modular, factory-built hardware.
• 1414 Degrees: 1414 Degrees (TESS) developed molten-silicon thermal storage for industrial heat and grid applications — a direct technical comparison to Antora's solid-carbon thermal battery for industrial process heat.
• Form Energy: Form Energy is a leading US long-duration storage competitor developing iron-air batteries for multi-day discharge, competing for the same utility and industrial decarbonization customers and capital as Antora.

Emerging players

• Malta Inc. Malta is a Google X spin-out developing pumped heat electricity storage for long-duration grid applications, an emerging alternative in the LDES space with overlapping technical ambitions.
• Electrified Thermal Solutions (Jupiter Ionics / Electric Heat): Electrified Thermal Solutions (ETS) develops Joule Hive thermal battery technology for industrial decarbonization, an emerging US-based peer in electrified industrial heat that competes for similar customer RFPs.

Broad incumbents

• Tesla (Megapack / Energy): Tesla's Megapack business is the dominant lithium-ion BESS incumbent competing for the same utility-scale and behind-the-meter storage budgets; while not a direct thermal technology competitor, it is the primary benchmark for storage economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/antoraenergy
• LinkedInlinkedin.com/company/antora-energy

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds11 records

Investors30 records

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

M&A1 record

Investments

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

Frequently asked questions about Antora Energy