Draft:Cache Energy
DOE-awarded energy storage startup.
From Wikipedia, the free encyclopedia
Cache Energy is an American energy technology company based in Champaign, Illinois, that develops long-duration energy storage (LDES) systems. Founded in 2021, the company utilizes a thermochemical energy storage (TCES) process to capture and discharge industrial-grade heat using limestone-derived pellets. The technology is designed to provide a carbon-neutral alternative for "hard-to-abate" industrial sectors such as cement and steel manufacturing.[1][2]
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History
Cache Energy was founded in 2021 by Arpit Dwivedi.[3] The company was initially part of the 2023–2024 Tech Deployment Track with Launch Alaska and later joined the Halliburton Labs collaborative ecosystem to scale its manufacturing and supply chain operations.[4]
In June 2024, the company announced the close of a seed funding round led by Voyager Ventures, bringing its total capital raised to $8.5 million. Other institutional investors include the Grantham Foundation, MUUS Climate Partners, Cantos Ventures, and Evergreen Climate Innovations.[5]
Pilots and Awards
As of 2026, Cache Energy has launched several high-profile pilot projects:
- University of Minnesota Morris: In March 2026, the company deployed the first thermochemical storage system at a U.S. university to provide building-scale heating.[6]
- Anchorage, Alaska: A demonstration unit was installed at a Halliburton facility to test the technology's reliability in extreme cold-weather conditions.[7]
The company has received multiple awards from the U.S. Department of Energy (DOE), including inaugural American-Made Energy Storage Innovations Prize in 2023.[8] First prize at the 2024 EPIC Prize Collaboration Event[9] held at the White House and the 2022 Energy Storage Innovations Prize.[10]