As far as the system is concerned, in charging mode, the CO2 is drawn from an atmospheric gasholder, the Dome, compressed and then stored under pressure at ambient temperature in a high density supercritical or liquid state.

When energy needs to be released, the CO2 is evaporated and expanded into a turbine, and then returned back to the atmospheric gasholder, ready for the next charging cycle.

As per ESG Today, Energy Dome officials say that the most recent financing will allow the company to make its CO2 battery solution available on a worldwide level.

Energy Dome’s CO2 Batteries can be deployed anywhere in the world at less than half the cost of similar-sized lithium-ion battery storage facilities, and the system uses readily available materials, such as carbon dioxide, steel and water.

Energy Dome already collaborates with some companies and independent energy producers in Europe, the US and Australia.

Claudio Spadacini, Founder and CEO of Energy Dome, said that "our technology can play a key role in enabling humanity to address the urgency of climate change without waiting until 2030."

Innovation Development Oman Investments and Vopak Ventures are some of the new investors that recently started funding the Italian sustainable energy company.