Technology
Rondo Energy announces €75M project funding with Breakthrough Energy Catalyst and the European Investment Bank
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2 years agoon
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Three Rondo Heat Battery installations will decarbonize food, clean fuel, and chemical production across Europe
LONDON, June 26, 2024 /PRNewswire/ — Today at the Breakthrough Energy Summit, Rondo Energy, Breakthrough Energy Catalyst, the European Commission, and the European Investment Bank announced €75 million in funding that will support three groundbreaking industrial decarbonization projects in Europe.
Rondo will use the funding (subject to the satisfaction of funding conditions) to expand its European presence and build projects delivering low-cost clean energy under long-term contracts. Each project has been optimized to capture low-cost intermittent energy from local and remote wind and solar resources, to deliver “drop-in decarbonization” for producers of food and beverage, clean fuel, and chemical production. The facilities will deliver low-cost, continuous, high-pressure, zero-carbon steam and power as a service.
“This project funding is a strong addition to our long-term relationship with Breakthrough, and puts Rondo firmly on the path to help eliminate the green premium for industrial heat electrification and to become a fully bankable technology which can be deployed at scale,” said Eric Trusiewicz, CEO of Rondo Energy. “The grant from Breakthrough Energy Catalyst and the loan from the European Investment Bank together underpin Rondo’s development throughout Europe, where we see very strong tailwinds to the adoption of our technology.”
Rondo Heat Batteries (RHBs) combine century-old materials and cutting-edge automation to turn intermittent renewable electricity into the continuous, high-temperature heat and power required by industries.
“Rondo’s technology offers industry a unique opportunity to decarbonize with inexpensive renewable electricity,” said Mario Fernandez, Head of Breakthrough Energy Catalyst. “Rondo’s deployment is crucial at a time when European manufacturers are urgently looking for ways to eliminate their dependence on natural gas. We’re proud to support these important projects across Europe and to work with such great partners in Rondo, the European Investment Bank, and the European Commission who bring the commitment and vision to commercialize this critical technology.”
“The green transition requires massive investment for innovative technologies to replace industrial processes based on fossil fuels,” said EIB Vice-President Thomas Östros. “With today’s announcement, we are writing the next chapter of the EU-Catalyst partnership. We are delighted to support Rondo’s first-of-a-kind energy storage units. As the climate bank, we aim to finance many more net-zero technologies that will provide clean and affordable energy to power our industry and homes, while strengthening Europe’s competitiveness.”
Drop-In Decarbonization for Covestro’s Chemical Production
Covestro, one of the world’s leading manufacturers of high-quality polymer materials and their components, has selected Rondo to deliver clean energy services at a production facility in Northern Germany. An RHB100 will be delivering continuous steam powered by intermittent renewable energy, contributing to Covestro’s deep commitment to circularity and decarbonization.
“As an innovation company, we are always excited when we can further develop and test promising ideas that can bring us closer to our goals of a circular economy and climate-neutral production,” says Dr. Thorsten Dreier, CTO of Covestro. “The heat battery is such an idea: a new technology that allows us to go one step further on our way to a sustainable future.”
Heat battery replaces fossil fuels in GreenLab’s green industrial park
GreenLab is a pioneer green and circular industrial park in Denmark, that works to demonstrate how energy waste can be reduced in industry. Rondo will build a “clean utilities core” supplying the companies in GreenLab with green heat. An RHB100 powered by renewables will generate high pressure steam to drive a CHP steam turbine generator cycle, translating intermittent electricity into baseload heat and power for multiple companies at the park.
One of the first companies in the park to benefit from Rondo’s heat battery will be using the green heat to produce low-carbon biogas, eliminating the use of fossil fuels in the process. This first installation will establish the performance, processes, and tools needed to expand the clean utilities core at GreenLab and to build other parks like this one powered by the wind and the sun.
GreenLab CEO Christopher Sorensen explains: “Industry accounts for approximately 25% of energy-related carbon pollution globally, and 74% of industrial energy use is tied to heat. At GreenLab, we work to reduce industrial energy waste and CO2-emissions by demonstrating new green technologies at scale. That is why Rondo’s heat battery is a perfect match for our industrial park. On a global level, powering industrial heat with renewables and heat batteries can cut CO2-emissions drastically, and we are happy to pioneer the solution in our park in this first-of-its-kind fully commercial project.”
Decarbonizing Food & Beverage Production
Rondo will also build a third project that charges from on-site and off-site solar, delivering deep decarbonization for a European producer in the food and beverage sector, with further details to be announced soon.
Breakthrough Energy Catalyst Creating New Energy Infrastructure
Breakthrough Energy Catalyst is bringing its expertise in energy-infrastructure-investing and project-development to accelerate the widespread deployment of emerging climate technologies that can cut emissions without a green premium.
The deployment and learnings from its FOAK projects in Europe will enable Rondo to develop storage-as-a-service contracts that make clean industrial heat and power cheaper than traditional fuels. These initial projects set the stage to accelerate Rondo’s delivery on its large pipeline of global projects which will reduce industrial reliance on gas and build sustainable, cost-effective energy solutions across the world.
Strengthening Europe’s Energy Security
Rondo is a member of the Energy Resiliency Leadership Group, which is working to open markets and speed the transition to a clean energy infrastructure for Europe.
Each of these projects is an energy services project that delivers long-term low-cost clean energy for an industrial producer, reducing reliance on imported fossil fuel, cutting regulatory risk, and improving their position as manufacturing leaders in the 21st century.
“This funding is an example of what energy security looks like,” said John O’Donnell, co-founder and Chief Innovation Officer of Rondo Energy. “These projects bring together Rondo’s innovative technology with Catalyst and EIB’s innovative finance to power industry with the wind and the sun on a permanently lower-cost basis.”
“Europe urgently needs to replace imported gas with domestic renewable energy,” said Ann Mettler, VP of Breakthrough Energy Europe and co-leader of the Energy Resilience Leadership Group. “Repowering our industries is a matter of climate security, economic security, and national security. These projects are proving that we can deliver this triple win now, with the right technology, vision, and capital.”
About Rondo Energy
Rondo is purpose-built for industrial facilities: Its Heat Batteries are constructed from proven, durable materials and are designed for seamless integration with existing industrial equipment and processes. Whether deployed as a drop-in replacement for retiring fossil-fueled heating equipment or as a resilient complement to existing systems, Rondo requires no disruptive changes to customers’ operations.
Rondo currently operates the world’s highest temperature, highest efficiency commercial energy storage system, at Calgren Renewable Fuels in Pixley, California. Working with its partner Siam Cement Group (SCG), Rondo is expanding the production capacity of its storage media from its current 2 GWh/yr to an industry-leading 90 GWh per year. Rondo Energy is headquartered in Alameda, California.
About Breakthrough Energy
Breakthrough Energy is a global network of climate leaders committed to accelerating the world’s journey to a clean energy future. The organization funds breakthrough technologies, advocates for climate-smart policies, and mobilizes partners around the world to take effective action, accelerating progress at every stage.
Breakthrough Energy Catalyst is a novel platform that funds and invests in first-of-a-kind commercial projects for emerging climate technologies. By investing in these opportunities, Catalyst seeks to accelerate the adoption of these technologies worldwide and reduce their costs.
The EU-Catalyst partnership was launched in 2021 at COP26 in Glasgow with the aim to develop large-scale green tech projects based in Europe and boost investments in critical climate technologies.
Catalyst currently focuses on five technology areas: clean hydrogen, sustainable aviation fuel, direct air capture, long-duration energy storage, and manufacturing decarbonization. In addition to capital, Catalyst leverages the team’s energy-infrastructure-investing and project-development expertise to work with innovators on advancing their projects from the development stage to funding, construction and ultimately, operations. Learn more about Breakthrough Energy and Catalyst at breakthroughenergy.org.
About the EIB
The European Investment Bank (EIB) is the long-term lending institution of the European Union. It finances sound investment contributing to EU policy goals. As implementing partner of the Commission under InvestEU, the EIB has been tasked to deploy up to €420 million for the benefit of the EU-Catalyst partnership. These funds are made available from both Horizon Europe, which has committed €200 million, and the Innovation Fund, which has committed €220 million. The EU-Catalyst partnership does not exclude potential additional contributions from EU Member States or other private partners that decide to further support the projects.
About Covestro:
Covestro is one of the world’s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. Covestro supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from Covestro are also used in sectors such as sports and leisure, telecommunications and health, as well as in the chemical industry itself.
The company is geared completely to the circular economy. In addition, Covestro aims to achieve climate neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group’s Scope 3 emissions are also set to be climate neutral by 2050. Covestro generated sales of EUR 14.4 billion in fiscal year 2023. At the end of 2023, the company had 48 production sites worldwide and employed approximately 17,500 people (calculated as full-time equivalents).
About GreenLab:
GreenLab is a green and circular industrial park. It was established in 2019 to test, demonstrate, and accelerate the green transition by improving the way renewable energy is produced, converted, stored, and utilized. GreenLab shows the way for breaking down energy silos and integrating energy systems. In practice, this is done through GreenLab’s SymbiosisNet™. GreenLab has created the ideal conditions for connecting industrial production with a new and innovative energy infrastructure, research, and large-scale testing of new technologies.
https://www.linkedin.com/company/greenlabskive
Photo – https://mma.prnewswire.com/media/2448110/Rondo_commercial_unit.jpg
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Technology
EQT Foundation awards more than €1 Million in grants for next-generation critical minerals solutions
Published
3 minutes agoon
June 16, 2026By
EQT Foundation has awarded grants to researchers from 11 institutions across 9 countries developing alternatives to critical minerals used in batteries, hydrogen, solar, and industrial systemsThe grantees are advancing technologies spanning lithium recovery, battery recycling, rare-earth recovery, low-iridium hydrogen production, and earth-abundant energy materialsThe grants support high-risk, high-impact scientific research designed to strengthen supply-chain resilience and accelerate the global energy transition
STOCKHOLM, June 16, 2026 /PRNewswire/ — EQT Foundation is pleased to announce the recipients of its Critical Minerals Science Grants program, awarding more than EUR 1 million in grants to researchers developing technologies that reduce reliance on constrained and strategically important raw materials in climate technologies. The selected projects span universities and research institutions across Europe, North America, Asia, Africa, and Australia.
The funded projects tackle some of the most significant material bottlenecks facing the energy transition. The cohort includes technologies designed to recover lithium from seawater and industrial waste streams, recycle battery materials and rare earth elements, reduce iridium use in hydrogen electrolysers, and develop next-generation energy systems based on earth-abundant materials. Together, the projects aim to strengthen supply-chain resilience while supporting the long-term scalability of clean-energy technologies.
Cilia Holmes Indahl, CEO of EQT Foundation, commented: “The green transition has a materials problem. Too many clean technologies depend on a handful of critical minerals, mined under dangerous, exploitative conditions, often invisible to the consumers plugging in their electric cars. Supply chains are fragile, concentrated in too few places, and immature recycling practices mean most of these materials end up in landfill instead of back in the system. The researchers we’re backing are working on the hard science to change that, rethinking clean technologies from the ground up. At EQT Foundation, we believe supporting entrepreneurial scientists at the earliest stages will be critical to building the next generation of globally impactful climate and health technologies.”
Selected grantees include:
Kiana Amini, The University of British Columbia (Canada): Developing an electrochemical platform to recover lithium from seawater while simultaneously enabling ocean-based carbon dioxide removalBertrand Paviet-Salomon, CSEM (Switzerland): Advancing resource-light photovoltaic technologies designed to reduce material bottlenecks in solar energy systemsJonas Elsborg, Technical University of Denmark (Denmark): Building scalable manufacturing platforms for earth-abundant electrocatalysts used in green hydrogen productionRhiyaad Mohamed, University of Cape Town (South Africa): Developing ultra-low-iridium electrolyser anodes to enable more scalable and affordable green hydrogen deploymentWeiran Zhang, Nanyang Technological University (Singapore): Creating transition-metal-free battery chemistries based on silicon and lithium-salt systemsXiaochu Wei, Imperial College London (United Kingdom): Developing electrochemical recycling technologies that recover high-purity battery materials from end-of-life cellsXiao Su, University of Illinois Urbana-Champaign (United States): Advancing electrochemical technologies for rare-earth element recovery and recyclingJuchen Guo, University of California Riverside (United States): Developing a novel chloroaluminate-based process for lithium-ion battery recyclingAdrian Oehmen, University of Queensland (Australia): Creating bio-integrated technologies to recover lithium and rare earth elements from industrial waste streamsAndré Studart, ETH Zurich (Switzerland): Using microorganisms to recover rare earth elements from urban waste sourcesSajid Alvi, Chalmers Next Labs (Sweden): Engineering silicon anode materials for resilient and low-carbon lithium-ion batteries
The grants are part of EQT Foundation’s broader Science program, which supports entrepreneurial scientists working on breakthrough climate and health solutions at the earliest stages of development. In addition to funding, grantees receive access to commercialization support and EQT’s global network to help accelerate the path from scientific discovery to real-world impact. The program is designed to help more high-potential scientific breakthroughs progress beyond academia and toward scalable deployment.
Contact
EQT Press Office,
press@eqtpartners.com
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
https://mb.cision.com/Main/87/4364254/4154398.pdf
Press Release_ Critical Minerals_260616
https://news.cision.com/eqt/i/critical-minerals-grant,c3547069
Critical Minerals Grant
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Technology
VT Markets Launches Bold as Gold, a Global Campaign to Establish New Benchmark in Gold Trading
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3 minutes agoon
June 16, 2026By
SYDNEY, June 16, 2026 /PRNewswire/ — VT Markets, a leading global online trading platform, announced the launch of its Bold as Gold campaign. The campaign celebrates the bold ambitions of gold traders, while reinforcing commitment to delivering world-class trading conditions required to navigate one of the most dynamic asset classes.
At its core, the campaign is built on a belief that gold rewards bold decisions, but traders can only succeed if their broker can match their ambition with the right execution quality, platform speed, and stability.
This initiative follows a historic period of growth which saw VT Markets process a record-breaking USD1.5 trillion in monthly gold trading volume amidst global market volatility in January 2026.
To back the Bold as Gold mandate, VT Markets has released a series of verified global performance metrics:
Bold Execution Under Pressure: While many brokers experience slippage during periods of heightened gold volatility, VT Markets records consistent no-slippage ratios of 61-65% globally, reaching as high as 65% in Europe. This helps traders execute their strategies with greater confidence, even during fast-moving market conditions.Bold Speed for Fast Markets: With market-leading global execution speeds, VT Markets delivers the responsiveness required to keep pace with rapidly changing price action, helping traders act without being disadvantaged by latency.Bold Consistency Across Borders: Through a unified global infrastructure, VT Markets provides consistent execution standards across more than 160 countries, ensuring traders receive the same high-performance trading experience regardless of location.
These metrics are further validated by Global Financial Market Review (GFM), a trusted financial portal reaching over 14 million readers annually, which awarded VT Markets as ‘Best Gold Trading Platform 2026‘. Evaluated on criteria such as transparency, innovation, volume of transactions, platform stability, and competitive spreads, the accolade reinforces VT Markets’ standing as a benchmark for reliability and performance in the gold trading space.
What’s Ahead
Bold as Gold is a multi-month global initiative. VT Markets will introduce the Gold Cup — a trading competition series with a USD500,000 prize pool. Alongside this, there will be offline activations, market insights, and educational programmes across key markets. Through this campaign, VT Markets is building a complete ecosystem for gold traders, combining trading performance, market expertise, education, and community engagement to help clients become truly Bold as Gold.
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Technology
Want to Prevent the Math Summer Slide? NWEA Learning Scientists and Math Experts Offer Tips and Activities
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3 minutes agoon
June 16, 2026By
BOSTON, June 16, 2026 /PRNewswire/ — Summer vacation is here, and while fun is on the agenda, keeping up with academic skills may not be. This means many students return to school in the fall at a slightly lower academic level than they were at the previous spring. It’s a phenomenon known as “summer slide,” and research suggests that math tends to be more impacted than reading.
The good news? Families don’t need worksheets or formal lessons to help children maintain their math skills over the summer. NWEA, a K–12 assessment and research organization, asked its learning scientists and math experts to share some of their favorite ways to make math a natural part of everyday life over the summer.
Find Math in Story Time
Mary Resanovich, former elementary school teacher and current Principal Assessment Connections Content Designer at NWEA
Recommended for Early Learners
People often think of reading and math as completely separate subjects, but story time can be a powerful way to build early math skills. Many children’s books include opportunities to count objects, compare sizes, identify patterns and shapes, solve simple problems, and talk about quantities. Even books that are not specifically about math can spark conversations that help children build mathematical thinking. Reading aloud exposes children to new vocabulary and ideas while creating opportunities to explore math concepts together. The illustrations alone can lead to discussions about counting, comparing, adding, subtracting, and problem-solving.
When reading with your child, try:
Counting objects in illustrationsComparing quantities, sizes, or shapesLooking for patternsAsking children how they would solve a problem in the storyTalking through different ways to arrive at an answer
Math through Rhymes and Music
Colleen Oppenzato, PhD, former elementary and middle school teacher and current Learning Scientist at NWEA
Recommended for Grades preK–1
Music, songs, and nursery rhymes can help young children build important math skills while having fun and spending time together.
Many popular children’s songs naturally reinforce early math concepts. Nursery rhymes such as “One, Two, Buckle My Shoe” and “Five Little Monkeys” help children practice counting forward and backward, while songs like “The Wheels on the Bus” introduce concepts such as “up and down” and “round and round,” helping children develop an understanding of spatial relationships.
Families can build math learning into everyday routines by singing favorite songs together in the car, during playtime, or at bedtime. Repetition, rhythm, and movement all help reinforce early mathematical thinking.
Music can also be a fun way to explore cultures and languages while learning math concepts. Songs like Un elefante se balanceaba in Spanish or Un éléphant qui se balançait in French help children practice counting while introducing new languages and cultural traditions. The goal is to make math playful and engaging by connecting it to activities children already know and love.
Put Math Thinking on Paper
Ayesha Hashim, PhD, Lead Research Scientist at NWEA
Recommended for Grades 1–3
Writing matters. As young learners start to engage in more complicated math, it’s important that they don’t try to solve everything in their heads or rely only on counting with their fingers. At our house, I keep a math journal on the breakfast table where my first-grade son can write out his thinking and practice using addition and subtraction strategies that he is learning at school. The goal isn’t perfection; it’s building a routine where, when presented with a math problem, children naturally reach for paper and pencil and begin writing and organizing what they are thinking.
Families can encourage this by:
Keeping a notebook or math journal somewhere visible and accessibleAsking children to draw pictures or models to represent their thinkingAsking children to explain how they arrived at an answerModel your thinking by writing out your own solution as an exampleCelebrating the process, not just the correct answer
Explore Fractions in the Kitchen
Jean Hampel, EdD, Learning Scientist at NWEA
Recommended for Grades 3–5
Fractions are a foundational math skill, and the kitchen is one of the easiest places to practice them. When cooking, I like to challenge children to think about different ways to measure ingredients. If a recipe calls for ¾ cup of flour, what if we only have a ½-cup and a ¼-cup measure? What if we only have a ¼-cup measure? These simple conversations help children explore equivalent fractions and develop a deeper understanding of how numbers relate to one another.
You can also:
Discuss how measurements change when doubling a recipeExplore what happens when cutting a recipe in halfCompare measurements such as ¼ cup and ½ cupAsk sharing questions like, “If we have three granola bars and four people, how much does each person get?”
Math becomes much more meaningful when children see it being used in real-world situations.
Math in Projects Around the House
Aaron Kugler, former elementary and middle school teacher, and current Principal Assessment Connections Content Designer at NWEA
Recommended for Grades 3-12
One of the things that summer provides in much more plentiful supply than the school year is time for hands-on exploration and play. Even high schoolers deserve and need time to explore topics of interest. Families can encourage their students to apply their interests in dedicated projects that no doubt could leverage math. Consider the following ideas for summer projects:
Design and build a board gameOwn and operate a lemonade standLearn to code simple applicationsPlan a road tripPlan a DIY projectDesign a scale model or mural
Each of these project ideas is ripe with mathematical application. Most involve measurement, logical reasoning, financial literacy, or opportunities to practice calculation. A student interested in making money over the summer might be encouraged to calculate their supply cost, income potential, and income-to-cost ratio. A student planning a road trip might be encouraged to use physical maps, calculate the best places to make stops each night, and outline hotel or campsite accommodations and meal budgets.
By taking simple ideas and structuring them as slightly more involved projects that help students escape the “boredom” of the everyday, mathematics learning and application can take a front seat in a lot of summer experiences.
Leverage AI as a Learning Partner
Susan Kowalski, PhD, former high school teacher and current Lead Research Scientist at NWEA
Recommended for Grades 6–12
Summer offers an opportunity for students to revisit math concepts, strengthen skills, and build confidence before returning to school in the fall. But creating personalized practice and support can be time-consuming for families.
AI tools (like math-gpt.org) can help by generating practice problems, reviewing work, and providing detailed written explanations that help students understand why a solution works – not just what the answer is. Rather than replacing teachers or tutors, AI can help families provide targeted support when students need extra practice or a different explanation.
Used thoughtfully and with adult guidance, AI can be a helpful learning partner for keeping math skills sharp over the summer.
Families can use AI to:
Ask for step-by-step explanations of math concepts and proceduresGenerate additional practice problems on a topic that a student is learningExplore multiple ways to solve the same problemReview completed work and identify where mistakes may have occurredHelp parents better understand the math their children are learning
As with any technology, adult guidance is important. AI works best as a tool that supports learning and encourages curiosity rather than one that simply provides answers.
Turn Game Night into Math Night
Natasha Wilson, PhD, former mathematics teacher (K-16) and current Learning Scientist at NWEA
Recommended for All Ages
One of my favorite ways to support math learning over the summer is through games. Games help children develop fact fluency, strategic thinking, problem-solving skills, and perseverance without feeling like they are “doing” mathematics. They also create natural opportunities for productive struggle and tenacity, where children learn to keep trying even when something feels challenging.
Some of my family’s favorites include:
Qwixx – develops addition skills, subitization skills, and strategic thinkingBattleship – builds understanding of coordinates and spatial reasoningSet – strengthens pattern recognition and logical reasoningPhase 10 – encourages addition and introduces probability conceptsTiny Polka Dot – helps younger learners develop number sense, subitization, counting, and comparison skills
As you play, ask questions such as:
How did you decide that?Why do you think that strategy worked?Was that move easy or difficult? Why?What might you do differently next time?
These conversations help children think more deeply about the mathematics embedded in the game.
Math is all around us, and summer offers countless opportunities to help children practice it in authentic ways. The goal is not to recreate school at home. Instead, experts encourage families to help children see math as a tool they already have at their disposal for understanding, navigating, and enjoying the world around them.
For more family resources and learning tips, visit https://www.nwea.org/blog/2025/engaging-with-math-at-home-at-all-ages/
About NWEA
NWEA®, a division of HMH, supports educators worldwide by providing responsive, evidence-based assessment solutions that illuminate learning needs and fuel student growth. For more than 40 years, NWEA has developed innovative pre-K–12 assessments, including its flagship assessment – MAP Growth, and professional learning that helps educators strengthen their practice and improve student outcomes. As part of its commitment to bring valuable insights to the education community, NWEA engages in research that examines issues that shed light on inequities and other barriers to academic opportunities. Visit NWEA.org to find out how NWEA partners to help all kids learn.
Contact: Simona Beattie, Communications Director, simona.beattie@nwea.org or 971.361.9526
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SOURCE NWEA
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