Redoxblox raises cash for energy storage

Redoxblox has raised $30 million to develop technology that stores energy by using electricity to heat a metal oxide material. Heat causes the material to release oxygen. Reacting the heated material with oxygen reverses the reaction and releases heat, which the firm says can be used for industrial processes or to generate electricity. Redoxblox received state and federal grants in January to demonstrate the technology at the University of California San Diego and at a Dow chemical plant in West Virginia.