Sympower Secures €19 Million To Expand Battery Storage And Energy Flexibility Solutions Across Europe

Sympower’s funding raise highlights how demand for energy flexibility solutions is accelerating across Europe, as firms and grid operators aim to balance renewable energy variability with resiliency needs.

Amsterdam-based energy technology firm Sympower secured the capital from Dutch pension fund manager PGGM, acting on behalf of pension fund PFZW. This extends Sympower’s Series B1 funding round to €42 million ($49.8 million), supporting the firm’s efforts to scale its energy flexibility services across Europe.

Founded in 2015, Sympower specializes in unlocking the flexibility of electric assets across industries by temporarily adjusting the power of machines and processes through automated demand response capabilities. The organization collaborates with commercial and industrial businesses, grid operators and energy stakeholders to manage electricity supply and demand virtually, shifting power from providers who are not utilizing their full capacity to those who are experiencing increased demand. This virtual management system alleviates grid pressure and enhances the efficiency of existing capacity, reducing the overall amount of power generated and the carbon footprint of electricity production.

The new capital will enable Sympower to accelerate the rollout of battery energy storage system (BESS) optimization solutions and pursue future M&A. Currently, the firm manages over 2.7GW of distributed energy assets across Europe, with more than 0.5GW of BESS assets under management in the Nordic region. The investment comes at a time when corporate demand for BESS is growing rapidly. In the recent Verdantix energy transition survey, 53% of respondents expect to have partial or general adoption of BESS in the next five years – a significant rise from 33% currently.

Sympower's expansion underscores the growing demand for energy flexibility solutions in Europe. As the continent continues to integrate renewable energy sources, the need for technologies that can balance supply and demand becomes increasingly critical. For firms, energy resiliency has risen up the agenda in recent months, as energy shifts from a cost control function to a strategic lever for business operations and long-term value. The backing from PGGM, a prominent institutional investor, reflects confidence in Sympower's business model that targets energy flexibility. As Europe accelerates its energy transition, investments in organizations such as Sympower are likely to continue, particularly as demand for flexible energy solutions intensifies.

To learn more about energy resiliency and decarbonization, see the Verdantix webinar: Aligning Energy Security And Decarbonization For Long-Term Resilience. And to learn more about investment trends within the space, stay tuned for our upcoming series outlining key energy transition trends for countries including the UK, France and Germany.