Voya Energy Closes $35M to Turn Scrap Aluminum Into Power
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Voya Energy has closed a $35 million Series A led by Energy Impact Partners, and used the announcement to unveil the metal fuels energy system it has been building.
John Doerr, Mantis VC, StepStone, Founders Fund, Overmatch, Seven Stars and other institutional investors joined the round. The company was founded in 2025 and works out of Hayward, California.
The idea rests on a material nobody thinks of as a fuel. Voya converts aluminum into electricity through a low temperature electrochemical process, with no combustion and no air emissions at the point of use. The aluminum itself comes from low grade scrap, which makes the input cheap and widely available.
Density is where the pitch gets interesting. A standard 20 foot container generates up to 2 MW. At scale, the company designs for roughly 100 MW of generation capacity and 10 GWh of stored energy per acre, which works out to about four times more compact than a diesel generator fleet and 100 times more compact than a grid scale battery installation.
The intended buyers are data centers, industrial operators and other heavy electricity users who are stuck waiting on grid access, permitting or fuel logistics. For those customers, the system is offered as a zero carbon substitute for the diesel generators currently doing backup duty.
The money is allocated across three phases: continued technology development, first deployments in 2027, and manufacturing scale up in 2028. Voya joins a crowded field of renewable energy companies chasing firm power, though few of them are starting with a scrapyard.
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