Exergy3

Exergy3, a climate tech spinout from the University of Edinburgh, has successfully raised £10 million in a Seed funding round. The investment was led by Axeleo Capital, with participation from Bayern Kapital, Kibo Invest, Scottish Enterprise, Zero Carbon Capital, and Old College Capital.

Summary of transaction details:

• Value: £10,000,000 (Seed)
• Sector: Climate Tech / Thermal Energy Storage / Decarbonization
• Advisor: Not disclosed
• Key Entities: Target: Exergy3; Lead Investor: Axeleo Capital; Participating Investors: Bayern Kapital, Kibo Invest, Scottish Enterprise, Zero Carbon Capital, Old College Capital; Key Executive: Markus Rondé (CEO)
• Location: Edinburgh, Scotland / Munich, Germany

Note: Exergy3 is tackling two major energy challenges simultaneously: the difficulty of decarbonizing heavy industrial heat, and the massive waste of curtailed renewable electricity (when the grid struggles to absorb excess wind or solar generation). The startup has developed an ultra-high temperature thermal energy storage solution that acts as a bridge, converting surplus renewable power into reliable, low-cost heat for industrial processes. This Seed capital will allow Exergy3 to rapidly scale its manufacturing capacity, transition from pilot to commercial deployments, and open a new office in Munich to drive its expansion into the German market.