At the Breakthrough Energy Summit in London on June 26th, Rondo Energy, Breakthrough Energy Catalyst, the European Commission, and the European Investment Bank announced €75 million in funding to support three groundbreaking industrial decarbonization projects in Europe.
Rondo Energy will use the funding, subject to the satisfaction of funding conditions, to expand its European presence and develop projects that deliver low-cost clean energy under long-term contracts. Each project is optimized to capture low-cost intermittent energy from local and remote wind and solar resources, providing “drop-in decarbonization” solutions for producers in the food and beverage, clean fuel, and chemical production industries. These facilities will offer low-cost, continuous, high-pressure, zero-carbon steam and power as a service.
Eric Trusiewicz, CEO of Rondo Energy, stated:
This project puts Rondo firmly on the path to help eliminate the green premium for industrial heat electrification and to become a fully bankable technology that can be deployed at scale.
Mario Fernandez, Head of Breakthrough Energy Catalyst, said:
Rondo’s technology offers industry a unique opportunity to decarbonize with inexpensive renewable electricity. Rondo’s deployment is crucial at a time when European manufacturers are urgently looking for ways to eliminate their dependence on natural gas. We’re proud to support these important projects across Europe and to work with such great partners in Rondo, the European Investment Bank, and the European Commission, who bring the commitment and vision to commercialize this critical technology.
For more information, check the press release here:
June 26th, 2024 – London, UK
