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Corre Energy raises EUR 2.1 million in funding to support operations
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May 23, 2024
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Alternative Energy

Alternative Energy

May 23, 2024

Corre Energy raises EUR 2.1 million in funding to support operations

Funding

  • Corre Energy, a Dutch company that develops and operates long-duration energy storage systems, has raised EUR 2.1 million (~USD 2.3 million) from a share sale to its founding shareholders and another long-term investor. This brings the company's total funding to EUR 21.9 million (~USD 23.8 million).

  • Corre intends to use the funds to support its operations as it negotiates potential strategic investments.

  • Analyst QuickTake: The company’s most recent funding was in February 2023, when it raised EUR 8.9 million (~USD 9.8 million) in post-IPO equity. In January 2024, Corre also signed an agreement with Eneco for offtake, co-development, and co-investment in Corre's first CAES project in Germany.

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