The funding follows Ore Energy’s agreement with Dutch electricity supplier Budget Thuis to deploy 1 GWh of iron air battery storage. The partnership begins with a committed 400 MWh first phase scheduled for delivery in 2028, representing the first commercial iron air storage agreement between a European utility and a technology provider. The project reflects a broader shift in energy storage requirements. Iron air batteries generally have lower round trip efficiency than lithium ion batteries, meaning a greater share of stored electricity is lost during charging and discharging. While technologies including iron air, flow batteries, compressed air, and thermal storage have attracted growing investment, few have reached commercial deployment at significant scale.