Rust Belt Industrials
Equipment Manufacturing / Industrial Heat Storage

Rondo Energy

Oakland, CAStartuprondo.com
Total Funding
$160M+
Founded
2020
Employees
101-250
Headquarters
1261 Harrison Street, San Francisco, CA 94103

Rondo Energy is an Oakland, California-based clean energy company that has pioneered the Rondo Heat Battery (RHB) - a breakthrough Electrified Thermal Energy Storage (ETES) system that converts intermittent wind and solar electricity into a continuous, reliable supply of high-temperature industrial heat and power. The system works by using electricity to power radiant heaters that rapidly heat centuries-proven refractory bricks to temperatures between 1,100-1,500°C. That stored thermal energy is then discharged as superheated air, steam, or electric power at over 98% efficiency - 24 hours a day, 365 days a year, with unlimited charge cycles and a 40+ year operational life. The modular RHB system can be configured from 2MWth to over 100MWth in a single unit, making it a scalable, drop-in replacement for fossil fuel boilers across industries including cement, chemicals, food & beverage, textiles, steel, pharmaceuticals, and direct air capture.

Rondo's technology directly addresses one of the hardest decarbonization challenges: industrial process heat, which accounts for approximately 15% of global greenhouse gas emissions. Unlike battery or hydrogen storage solutions that face chemical degradation, cost premiums, or safety risks, the Rondo Heat Battery uses non-pressurized, hazardous-chemical-free refractory brick - a proven industrial material - to deliver zero-carbon heat at costs that are competitive with or lower than fossil fuels, with no "green premium." The company has announced 11 commercial deployments, over 400 MWh of active projects, 3 GWh worth of partnerships, and a planned 90 GWh battery factory in partnership with Siam Cement Group (SCG), which would be the world's largest. Landmark milestones include powering the world's largest industrial heat battery (100 MWh) and deploying Southeast Asia's first industrial heat battery in Thailand.

For the US energy supply chain, Rondo represents a critical bridge between the country's rapidly growing renewable electricity generation and the vast industrial sector that still relies on fossil fuel combustion for heat. By enabling factories across food production, chemicals, metals, and fuels to run on cheap, intermittent solar and wind power, Rondo unlocks demand-side flexibility for the grid while eliminating Scope 1 and 2 emissions at scale. Its Heat-as-a-Service deployment model - backed by the European Investment Bank and Breakthrough Energy Catalyst - lowers capital barriers for industrial customers, accelerating adoption. Recognized by Bloomberg/BNEF as one of 12 climate tech startups shaping the energy transition, Rondo sits at the intersection of energy storage, industrial decarbonization, and grid modernization.

Funding

Rondo Energy has raised more than $160 million in total funding across 5 rounds, including venture equity, grants, and debt financing. Key funders include Breakthrough Energy Ventures (grant lead), the European Investment Bank (debt financing), and strategic corporate investors. The company referenced ~$85M in equity/venture funding in earlier reporting, with additional project financing and EIB debt bringing the total above $160M. Breakthrough Energy Catalyst co-funded the HEINEKEN deployment alongside the European Investment Bank.

Investors

  • Breakthrough Energy Ventures
  • Energy Impact Partners
  • Microsoft
  • Rio Tinto
  • Aramco
  • SABIC
  • SCG (Siam Cement Group)
  • Titan Cement Group
  • H&M Group
  • European Investment Bank

Key People

  • John O'Donnell, CEO & Co-Founder (formerly VP Business Development, GlassPoint Solar)
  • Pete Von Behrens, CTO & Co-Founder (formerly Co-Founder & CTO, GlassPoint Solar)

News