Sympower funding news – Amsterdam-based Sympower has Secured €21.3 Million in an Oversubscribed Funding

With direct investment from the European Investment Fund (EIF) and participation from existing investors Activate Capital, Rubio Impact Ventures, PDENH, and Expon Capital. This investment will support Sympower’s mission to enhance grid stability and foster renewable energy integration across Europe.

With a portfolio of over 2GW of flexible distributed resources, Sympower operates as a demand-side flexibility aggregator across the Nordics and Greece, providing solutions that help stabilize grids and integrate renewable energy sources.

Flexibility services, recognized by the European Commission as essential to achieving Europe’s energy goals, are projected to save €12 billion in grid investment costs by 2050.

Strategic Expansion into Battery Energy Storage Systems

Sympower is already the leading demand-side flexibility aggregator in the Nordics and Greece, with a portfolio of over 2GW of flexible distributed resources across Europe. The company will leverage the newly raised funds to integrate battery energy storage systems (BESS) into its service portfolio to manage grid stability.

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Simon Bushell, Founder and CEO of Sympower said, “Sympower has grown tremendously in recent years, which aligns with the unprecedented demand across Europe for diversified and mature energy flexibility solutions, I’m grateful for the continuous support of our investors and delighted to see new ones putting their trust in us. Completing an oversubscribed funding round shows our investors confidence in our vision team and execution capabilities. This new funding will be key in expanding our operations and enabling us to deliver a sophisticated and mature offering for battery energy storage systems.”

Part of this funding will go towards mergers and acquisitions in Sympower’s key markets to further strengthen its service offering and accelerate its strategy. Finally, Sympower plans to diversify its offering to industrial companies and renewable energy producers by extending its trading capabilities to new energy markets.

Welcoming New Investors and an Extended Supervisory Board

The Series B1 funding was led by A&G Energy Transition Tech Fund, which is focused on investing in scale-ups whose technology accelerates the energy transition. The fund is managed by A&G, an independent financial services group based in Spain.

Jesús Lozano Lopez, Investment Director at A&G said, “We have been following Sympower’s evolution for a few years and were impressed by its unique international footprint and position in the European energy market, Sympower’s significant growth, commercial traction, and European expansion were determining factors which convinced us to invest. We’re confident that we can enable them to unlock the next phase of their scale-up growth and to consolidate their leading position in Europe.”

Following the funding round, Sympower extended its Supervisory Board, welcoming 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 joined the investment round and are excited to see what the future holds for the team and their technology.

Helmer Schukken, Partner at Rubio Impact Ventures, which first invested in 2019, commented, "We are thrilled to continue supporting Sympower's mission to drive the renewable energy transition forward alongside our partner, the European Investment Fund. This joint investment represents our ongoing conviction in the company's market leadership, enabling grid flexibility and greener power from the commercial & industrial sector."

About Sympower

Sympower was founded in 2015 with the mission to enable the transition to a fully renewable energy system. They achieve this by unlocking the flexibility of electric assets across industries, from steel smelting to solar panels, electric vehicles to paper production, and maximising the value of this flexibility across energy markets.