Sympower, an Amsterdam, the Netherlands-based flexibility services provider balancing electricity grids through its local operations to create a truly sustainable energy system, raised €21.3M in Series B-1 funding.
The round was led by A&G Energy Transition Tech Fund with direct investment from the European Investment Fund (EIF) and participation from existing investors Activate Capital, Rubio Impact Ventures, PDENH, and Expon Capital.
The company intends to use the funds to roll out battery energy storage solutions, future mergers and acquisitions, continue its European expansion, and scale the business’ operations.
Led by CEO and Founder Simon Bushell, Sympower is a flexibility service provider, balancing electricity grids through its local operations to create a truly sustainable energy system. Using its software platform, it helps balance the supply and demand of electricity across European energy networks.
By enabling commercial and industrial businesses, grid operators, battery project developers and owners, and other energy stakeholders to participate in energy flexibility services, the company helps them generate new revenue streams, reduce energy costs, and ultimately integrate more distributed renewable energy resources on the grid.
Following the round, Sympower extended its Supervisory Board, adding Jesús Lozano Lopez from A&G, and Tim Healy, the former Chairman and CEO of energy intelligence and demand response leader EnerNOC. The European Investment Fund (EIF) and existing impact investors Activate Capital, Rubio Impact Ventures, PDENH, and Expon Capital also participated
FinSMEs
13/11/2024