Sympower, an Amsterdam, the Netherlands-based flexibility services provider specialising in demand response and BESS, acquired Flextools, a Norway-based flexibility technology provider.
The amount of the deal was not disclosed.
Through this acquisition, Sympower and Flextools will combine their industry expertise, technologies, and teams to better serve their extensive portfolio spanning the Nordics, Greece, and the Netherlands.
Led by CEO Victoria Fearnley Landmark, Flextools is a technology provider of advanced hardware and software solutions, used to balance power grids and deliver benefits across the flexibility value chain. Its Software-as-a-Service (SaaS) platform provides access to demand response and balancing services to energy companies and asset owners, enabling them to participate independently.
Flextools has 19 employees and is headquartered in Oslo, Norway with offices in Stockholm and Uppsala, Sweden.
Led by CEO and Founder Simon Bushell, Sympower offers a platform that provides demand response services to commercial and industrial businesses, enabling them to earn revenue to balance the grid by temporarily adjusting the consumption of their energy-intensive equipment. It has also recently announced the roll-out of flexibility solutions for Battery Energy Storage Systems (BESS) and is expanding its flexibility services to solar and wind companies.
Founded in 2015, the company has over 220 employees active in ten countries.
FinSMEs
10/12/2024