Exergy3 secures £8.9m seed round for thermal energy storage technology

Edinburgh-based Exergy3 Limited has raised an estimated £8.9m in a seed funding round. The investment values the clean-tech company at approximately £24.1m. A spinout from the University of Edinburgh, Exergy3 develops ultra-high temperature thermal energy storage systems designed to convert surplus renewable electricity into high-temperature heat for industrial use.

The company focuses on decarbonising industrial processes that require medium and high-temperature heat. Its technology provides a scalable solution for sectors such as district heating and combined heat and power systems. By storing excess renewable energy, the system aims to provide a sustainable alternative to fossil-fuel-based industrial heating.

Founded in 2019, Exergy3 has expanded its team to 17 employees according to recent LinkedIn data, while its latest accounts for the year ending 30 September 2025 recorded a headcount of nine. The company is headquartered in Edinburgh and operates within the industrial machinery manufacturing and engineering research sectors.

Recent changes to the company board include the appointment of Volker Bernd Beckers in April. Guillaume Sarlat also joined the board in March. LinkedIn profiles suggest Sarlat may be an investment banker and board member, though this professional background is unverified. These appointments followed the allotment of new shares in April and subsequent documentation filed in May.