Octave.energy Raises €10 Mn to Expand Battery Storage Solutions Across Europe

The funding includes a mix of equity and flexible debt financing. The round was led by SPDG Growth, the family office of the Périer-D’Ieteren family, which has backed Octave.energy since its seed round.

Existing investors imec.istart, BNP Paribas Fortis, and KBC also participated in the funding round. Octave.energy develops Battery Energy Storage Systems (BESS) and Energy Management Systems (EMS) for energy management.

Founded in 2020, Octave.energy develops smart battery storage systems for industrial companies, small businesses, and farms. The company initially built its own circular battery storage system with built-in control and monitoring features.

Today, Octave.energy focuses on first-life LFP battery storage systems. It provides customers with complete battery storage and Energy Management System (EMS) solutions.

The company says Europe’s shift toward electricity and clean energy is happening faster than the power grid can handle. This is creating problems such as crowded grids, changing electricity prices, and limits on how quickly businesses can expand their use of electricity.

Octave.energy believes battery storage can help businesses deal with these challenges. However, the company says having a battery alone is not enough to get the most value from stored energy.

Octave.energy combines its Battery Energy Storage System (BESS) with its own EMS technology. This helps businesses use more of their solar power, reduce peak electricity use, manage EV charging, get extra power in areas with limited grid capacity, and benefit from energy market opportunities.

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