Photoncycle Secures €15M To Expand Seasonal Energy Storage In Europe

The round was led by NordicNinja and Voima Ventures, with participation from Lifeline Ventures, Eviny Ventures, Luminar Ventures and Momentum.

Photoncycle develops solid-state hydrogen energy storage systems that enable households and businesses to store excess renewable energy for seasonal use. Its patented technology converts surplus solar power into solid-state hydrogen stored underground and later released as clean heat and electricity when demand rises.

The funding comes as Europe continues to grapple with energy security concerns highlighted by the 2022 crisis. In 2025 the EU imported €396 billion worth of fossil fuels around €880 per citizen while winter heating remains a major vulnerability accounting for 62.5% of household energy consumption, with natural gas still playing a central role.

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Photoncycle’s distributed, household-level storage aims to reduce dependence on imported gas during winter months. At full scale its planned 1.4 TWh manufacturing facility would deliver seasonal storage capacity equivalent to approximately 140,000 homes, each storing 10,000 kWh of energy.

Photoncycle plans to deliver its system through a subscription model that bundles solar panels, seasonal storage, maintenance and access to energy trading markets, reducing upfront investment for homeowners. By shifting excess summer solar energy to winter consumption the company aims to stabilise year-round energy costs and limit exposure to volatile gas prices.

The new funding will support commercial rollout in Denmark and the Netherlands, as well as the first phase of its industrialisation strategy, including development of a proposed 1.4 TWh annual manufacturing facility.

Beyond its initial European focus, Photoncycle is also exploring longer-term expansion into markets such as Japan and the United States.

Bjørn Brandtzæg, founder and chief executive of Photoncycle, said the company was focused on moving seasonal energy resilience closer to consumers:

Europe is beginning to solve short-duration storage. The remaining gap is seasonal. If households can store summer energy for winter use, they reduce exposure to imported fuel and price volatility as well as to increasing grid costs for consumers.

About Photoncycle

Founded in 2020 Photoncycle develops solid-state hydrogen energy storage systems that make homes energy-autonomous year-round. By storing surplus summer solar power for winter heating and electricity, the company offers predictable energy costs while supporting a more balanced, resilient and sustainable energy system.