Energy Dome eyes funding as NKT wins cable contract - 08 Oct 2026

As of October 8, today’s news features advancements in renewable energy contracts, investment efforts in energy storage technologies, and changes in energy strategies across Europe. 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. Meanwhile, NKT has secured a contract for three high-voltage AC onshore cable projects from Hamburger EnergieNetze. Furthermore, Nexans saw its target price raised by JP Morgan from 183 euros to 186 euro. In Hungary, the government aims to pivot towards renewable energy to reduce dependence on imports and mitigate high electricity costs. Energy Affairs State Secretary Andras Totth announced plans to launch a tender to build 700 MW of wind turbines, targeting an expansion of wind power capacity to over 4 GW by 2030. This strategy follows a long history of energy imports exceeding 80% of the country's needs, which has been deemed a significant vulnerability, particularly after recent droughts that stressed Hungary's existing nuclear power capabilities. The new government's approach deviates from previous policies, focusing on corporate energy affordability and renewable growth. Turning to Denmark, the culture minister proposed a bill to ban the unauthorized sharing of AI-generated deepfakes, aiming to protect public trust and artists' integrity. The initiative includes exceptions for parody and satire, pending parliamentary approval, and is set for potential enactment by year-end. On the global stage, discussions are unfolding between US and Russian officials concerning the potential reintegration of US investors into the Nord Stream pipelines. These talks, involving US Special Envoy Jared Kushner and advisers to Russian President Vladimir Putin, center around reviving gas sales to Europe post-conflict, though significant regulatory hurdles remain due to ongoing sanctions. Lastly, a new study highlights that millions of hectares of protected ecosystems are threatened by the expansion of mining and oil concessions, jeopardizing global conservation efforts as countries navigate their energy security amid ongoing climate challenges. Amid these developments, technology firms seek flexible power usage strategies for energy-intensive data centers, presenting potential savings in capital investments and expediting their connection to power grid systems. This approach is gaining traction as a practical solution to high energy demands and infrastructure strain.