Italy's Energy Dome in advanced talks for major funding, keeps IPO option open

PIACENZA, Italy Oct 8 (Reuters) - Italian startup Energy Dome, which develops carbon dioxide-based energy storage technology, is in advanced talks with European and US investors to raise several hundred millions of euros to support its growth, Chief Executive Claudio Spadacini said.

• The Milan-based company is seeking to expand and invest directly in projects as it looks to scale up revenues

• "With the contracts we have signed, our capital requirements go well beyond the €200 million raised," Spadacini said at the opening of a new manufacturing facility in the northern city of Piacenza

• The fundraising is open to European and US investors, he said, adding that negotiations for significant amounts were at an advanced stage

• The company's investors include Bill Gates-backed Breakthrough Energy Catalyst, the European Investment Bank, Italy's state lender CDP, Intesa Sanpaolo's NEVA SGR, venture capital firm 360 Capital, utility A2A, Eni's corporate venture arm Eni Next and Barclays.

• Energy Dome sees revenue between €30 million and €40 million in 2026, but says long-term commercial contracts signed provide visibility on recurring revenues worth several billion euros

• The timing of any listing - not necessarily in Milan - would depend on market conditions and the type of investors participating in the current fundraising round, Sapadacini said

• Energy Dome is investing in new projects across Italy, including Sardinia, where it operates its only Italian plant

• At the Piacenza site, the group announced plans to invest a total of €6.5 million euros ($7.3 million) by 2028, to expand production capacity and increase employment from around 30 employees currently to between 80 and 90 by 2028

(Reporting by Giancarlo Navach, editing by Giulia Segreti and Elaine Hardcastle)