Antora Energy Acquires Medley Thermal to Support Commercialization of Zero-Carbon Industrial Heat & Power Solution
Sunnyvale, CA – December 21, 2022 -- Following its $50M Series A Funding earlier this year, Antora Energy has acquired Medley Thermal to support the commercialization of its zero-carbon heat and power solution for industrial decarbonization.
Medley Thermal is a project development and software company focused on deploying renewable power-to-heat systems in large commercial and industrial applications. The company has developed novel projects that cost-effectively electrify heat using renewable power supported by proprietary, intelligent control software. The company has also developed a robust pipeline of power-to-heat projects.
“Medley’s expertise is linking low-value renewable electricity to thermal loads. Electrifying process heating requires not only hardware innovation but innovation in business models, controls, and utility rate structures. Medley’s strength is our innovation in these areas,” said Medley founder and CEO Jordan Kearns, who has joined Antora Energy’s executive team as vice president of project development. “Antora has had a parallel focus on solving the same electrification problem for the same customers but from the hardware angle. Medley’s expertise in developing power-to-heat projects will accelerate commercialization of Antora’s thermal energy storage system, and Antora’s unique storage hardware will unlock greater reductions in energy costs and emissions for projects in our pipeline.”
Nearly fifty percent of global energy consumption is used to produce heat. Antora’s technology turns renewable energy into fully dispatchable heat and power, with lower costs and emissions than fossil fuels. Antora’s thermal battery module soaks up inexpensive renewable electricity and stores it as high-temperature heat. This stored thermal energy can then be used directly to provide process heat at temperatures up to 1500°C, or converted back to electricity.
“The industrial sector is seeking the most credible, low-cost option for generating zero-carbon heat,” said Andrew Ponec, co-founder and CEO of Antora. “Pairing renewable power with Antora’s technology provides that. Medley’s team is one of the few in the United States to successfully pair renewable power to large-scale thermal loads. The development tools, software, and project pipeline built by Jordan and the Medley team will speed up the delivery of our thermal storage systems to the industrial sector.”
About Antora Energy
Based in Sunnyvale, CA, Antora Energy turns sunshine and wind into a reliable, on-demand source of zero-carbon heat and power to enable deep decarbonization of industry and the electric grid. Antora’s thermal batteries can discharge zero-carbon electricity and/or heat at temperatures up to 1500°C or higher. Antora’s technology will eliminate gigatons of emissions while increasing U.S. energy security, reducing our nation's dependence on global supply chains, and supporting well-paying American jobs. The company is backed by leading investors, including Breakthrough Energy Ventures, Lowercarbon Capital, Shell Ventures, BHP Ventures, Trust Ventures, Fifty Years, Grok Ventures, Impact Science Ventures, and Overture VC. Visit www.antoraenergy.com and follow the company on LinkedIn and Twitter.