FeX Energy raises $4.8 million CAD on bet that iron can power the energy transition | BetaKit
Summary
FeX Energy raised $4.8 million CAD in an all-equity round led by Fathom Fund, Amplify Capital, and Antares Ventures. The Montreal startup is developing an iron-based reactor that stores renewable energy and releases it as heat for industrial and building applications. It plans to use the funding to launch its first pilot project for an Ontario client and to grow its team. The company is also positioning the technology for heavy industry and remote defense use cases.
Funding
Amount
$3.5M
Total raised
Date
September 15, 2025
Announcement date
Investors
Amplify Capital
Lead investors
Company
https://fexenergy.com
Funded company
Classifications
industries
No industries detected
applications
Engineering & Scientific
AskAI Classifications
Labels
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