MBM Commercial advises Exergy3 on £10m Investment

MBM Commercial has advised Exergy3, a University of Edinburgh spin‑out, on its successful £10 million seed funding round to support the commercial rollout of its innovative industrial heat decarbonisation technology.

Founded to address the growing challenge of decarbonising industrial process heat, Exergy3 has developed a proprietary thermal energy storage solution that converts surplus renewable electricity into high‑temperature heat for industrial use. The technology directly tackles three of Europe’s most pressing energy challenges: industrial decarbonisation, grid balancing constraints, and long‑term energy security. The investment will enable Exergy3 to scale its proprietary solution.

The round was led by Axeleo Capital, with participation from Bayern Kapital and Kibo Invest, alongside continued backing from Scottish Enterprise, Zero Carbon Capital, and Old College Capital. The funding will support manufacturing scale‑up, team expansion, and wider commercial deployment across Europe, including the opening of a new office in Munich.

Markus Rondé, CEO of Exergy3, said: “As always, MBM (Alex Lamley) delivered swiftly, flawlessly and with personal touch. Bringing a complex multinational deal to a swift and uncomplicated conclusion.”

As Exergy3 enters its next phase of growth, its technology is positioned to strengthen energy security, improve overall system efficiency, and unlock new value from existing infrastructure.

Congratulations to the Exergy3 team on this significant milestone.