Grok Ventures provides sole external financing for 5 GWh thermal energy storage project in South Dakota, US
Type: Financing · Technology: Storage · Country: United States · Capacity: 50 MW · Announced: 2026-05-21
Australian private investment firm Grok Ventures provided sole external financing to enable the financial close and commissioning of a 5 GWh thermal energy storage system in Big Stone City, South Dakota, adjacent to POET Bioprocessing – Big Stone. The project, developed by Antora Energy, delivers 50 MW of round-the-clock energy to POET under a long-term heat offtake agreement, supporting increased bioethanol production at the facility. Grok Ventures structured a financing solution aligned with the project’s transformative potential, citing strong commercial fundamentals and the technology’s scalability. The system selectively charges during periods of surplus local energy production, leveraging existing grid infrastructure to offer a model for integrated thermal energy storage. Ridhaa Ahmed, Head of Infrastructure and Private Equity at Grok Ventures, emphasized the technology’s affordability and reliability for American industry at scale.
Counterparties
- Antora Energy (Developer)
- Grok Ventures (Investor)
- POET (Offtaker)