Climate Tech Company – Industrial Thermal Energy Storage

This opportunity involves a USD 3 million debt financing for a Vietnam-based climate technology company founded in 2023, with a Series A equity round to follow. The company develops sand-based thermal batteries that store energy and deliver high-temperature, zero-emission heat for industrial and agricultural applications.

The company has closed its seed round with a group of regional and international venture investors, including the venture arm of a multilateral development bank. Its clients include a global food and beverage group alongside several Vietnamese cooperatives and manufacturers.

Commercial traction is building. The company generated 63 new project leads in the first half of 2025, most of them for sand battery systems, with the remainder in solar and combined solutions. Total contract value stands at around USD 11 million, the majority of which is currently in execution. The financing will support delivery of this pipeline as the company prepares for its Series A.