German long-duration energy storage company CMBlu Energy has achieved “unicorn” status after surpassing a valuation of €1 billion following the initial close of a €50 million Series C financing round. The round included participation from Samsung Ventures, while existing investors including Strabag SE increased their funding.
The Alzenau-based company said the funding will support manufacturing scale-up and accelerate commercial deployments of its non-lithium SolidFlow battery technology in Europe and the US.
CMBlu: combining flow battery architecture with solid energy storage
The company develops long-duration energy storage systems using what it describes as a combination of flow battery architecture and proprietary solid energy storage materials. Its SolidFlow systems use non-flammable, water-based electrolytes and avoid critical raw materials such as lithium, cobalt and nickel. The company says the technology is designed to provide 10 hours or more of dispatchable energy storage.
The financing comes amid growing interest in long-duration storage for data centres, utilities and grid infrastructure, particularly as electricity demand rises from AI and electrification projects. The company said its technology was aimed at providing dependable multi-hour capacity for “mission-critical operations”.
“Our SolidFlow technology is redefining energy storage by combining inherent safety with a streamlined permitting pathway – enabling faster, more predictable deployment at scale,” said Constantin Eis, CEO of CMBlu.
“That speed to power paired with resilient, localized supply chains is critical as data centers and industrial customers advance their business needs and race to meet surging demand.”
Samsung Ventures said CMBlu’s technology represented “an industry leading approach to scaling sustainable, long-duration energy storage solutions”.
Earlier this year, CMBlu signed a 5GWh framework agreement with German utility Uniper for deployment of its SolidFlow storage systems. According to the company, that amount of storage would be sufficient to power a 1GW data centre for five hours, or a 500MW facility for 10 hours overnight.
Founded in 2014, CMBlu has grown from a lithium-free battery research laboratory into a commercial energy storage manufacturer. The company currently employs more than 250 staff, including over 150 scientists and engineers, and is scaling production at its automated gigafactory in Germany, with additional facilities planned in Greece and the US.
Photo: © CMBlu
