This CNBC report examines thermal batteries as an emerging solution for decarbonizing heavy industry, featuring Rondo Energy, Antora Energy, and Fourth Power as leading startups in the space.
Key insights:
Thermal batteries store electricity as heat in low-cost materials like bricks, clay, and carbon blocks rather than lithium, making them significantly cheaper at roughly $232 per kilowatt hour installed versus $304 for lithium-ion systems.
Because industrial heat accounts for a massive share of global emissions and cannot easily be electrified with batteries or solar alone, thermal storage offers a direct pathway to decarbonize sectors like steel, cement, chemicals, and food processing.
Rondo Energy, backed by Bill Gates, currently produces 2.4 GWh of heat batteries annually and plans to scale to 90 GWh by 2027 through a 40-fold factory expansion in Thailand; unlike lithium-ion, thermal systems can store energy for days, weeks, or even months, making them suitable for seasonal energy management rather than just short-duration grid balancing.
And the sector’s biggest near-term challenge is market awareness, as most industrial energy buyers are not yet aware the technology is commercially available.