Sympower, a Dutch unbiased flexibility providers supplier, has secured €19 million in funding to additional roll out its battery storage (BESS) optimisation options and purse extra M&As – that is an extension of Sympower’s Collection B1 funding, bringing the full spherical to €42 million.
This funding comes from pension investor PGGM, investing on behalf of PFZW, the Dutch healthcare pension scheme. Sympower can be supported by different impression buyers, together with A&G Power Transition Tech Fund, Activate Capital, Rubio Affect Ventures, PDENH, and Expon Capital.
“This strategic funding permits us to unlock the following part of our BESS imaginative and prescient and unlock new acquisition alternatives to strengthen our providing,” defined Simon Bushell, Founder and CEO of Sympower. “Having PGGM on board is a strong vote of confidence from one in every of Europe’s most revered institutional buyers. Their long-term, impact-driven funding method is deeply aligned with our mission to construct a extra sustainable and resilient vitality system.”
Sympower goals to speed up Europe’s transition in the direction of a climate-neutral future by serving to to construct smarter, cleaner, renewable vitality techniques. The corporate’s platform, constructed from the bottom up, reportedly balances the availability and demand of electrical energy throughout European vitality networks.
Based in 2015, Sympower has over 200 workers lively in additional than ten international locations and manages over 2.7 GW of versatile distributed vitality property. The corporate counts with a portfolio of over 170 industrial and business clients, who function in a variety of energy-intensive industries, together with paper and pulp, greenhouse, information centres and wooden mills, permitting us to unlock the pliability {of electrical} property and processes.
This newest funding marks a pivotal step in scaling the corporate’s presence in BESS, increasing its acquisition pipeline, and advancing its pan-European development. The funding will allow Sympower to construct on its observe document with grid-scale battery initiatives in Sweden and Finland and prolong its capabilities to play a central function in Europe’s evolving flexibility ecosystem.
Sympower presently manages over 0.5GW of battery vitality storage property within the Nordics, and has just lately introduced the rollout of its BESS optimisation providers in Greece.
”Sympower has a extremely expert group that has constructed a number one flexibility platform. Our funding will contribute to the following part of the corporate’s development and into new markets. This funding in Sympower suits very nicely with the Local weather and Power Transition Options (CETS) mandate given to us by Pensioenfonds Zorg en Welzijn (PFZW),” mentioned Tim van den Brule, funding director at PGGM Infrastructure.
He added: “We count on Sympower to contribute to good returns for the good thing about PFZW contributors and allow additional incorporation of renewable sources within the electrical energy combine.”
PGGM will be a part of Sympower’s Supervisory Board to assist steer the corporate’s long-term strategic development and strengthen its governance.
“The subsequent chapter for Sympower is all about scale: strategic M&A, deeper BESS integration, and new markets,” added Bushell. “This spherical provides us the capital and the arrogance to speed up, and with PGGM by our facet, we’re higher positioned than ever to assist Europe construct a cleaner, smarter vitality system.”
