Sympower, a leading provider of demand-side flexibility solutions, has successfully raised €21.3 million in an oversubscribed Series B1 funding round. The round was led by A&G Energy Transition Tech Fund (A&G ETTF), with direct participation from the European Investment Fund (EIF) and existing investors Activate Capital, Rubio Impact Ventures, PDENH, and Expon Capital. This latest funding will enable Sympower to accelerate its expansion across Europe, integrate battery energy storage systems (BESS) into its portfolio, and continue its mission to support the energy transition.

A Growing Demand for Energy Flexibility Solutions

The need for advanced energy flexibility services is becoming increasingly critical as Europe continues its efforts to transition to renewable energy. Flexibility services help maintain grid stability by enabling efficient management of electricity demand and supply, a necessity as renewable energy sources like wind and solar become more integrated into national grids. The European Commission has underscored the importance of such solutions, estimating that grid flexibility could save up to €12 billion annually by 2050.

Sympower is already a dominant player in the European energy market, known for its demand-side flexibility and battery storage services. The company’s portfolio includes more than 2GW of flexible distributed resources across Europe, with a strong presence in the Nordics and Greece. This strategic funding will allow Sympower to further solidify its position in these regions while expanding its service offerings to include battery energy storage systems, an area that will play a key role in stabilizing grids as renewable energy adoption grows.

Expanding the Battery Storage Solution

Sympower plans to leverage the newly raised funds to integrate battery energy storage solutions into its service portfolio. These systems are critical for grid stability, especially in areas with high penetration of renewable energy sources. By storing excess energy during periods of low demand and releasing it during peak times, BESS will enable more renewable energy to be integrated into the grid, reducing reliance on fossil-fuel-based power plants.

Simon Bushell, Founder and CEO of Sympower, expressed his excitement about the progress and growth the company has made, noting, “Sympower has grown tremendously in recent years, which aligns with the unprecedented demand across Europe for diversified and mature energy flexibility solutions. Completing this oversubscribed funding round is a testament to our investors’ confidence in our vision, team, and execution capabilities. This capital will be pivotal in enabling us to scale and deliver a sophisticated offering for battery energy storage systems.”

The funds will also be used to pursue mergers and acquisitions to bolster Sympower’s presence in key markets and further enhance its service capabilities. In addition, Sympower aims to diversify its offerings by extending its energy trading capabilities to industrial companies and renewable energy producers.

New Investors and Strategic Oversight

The Series B1 round attracted both new and existing investors, highlighting the growing confidence in Sympower’s potential. A&G Energy Transition Tech Fund, which focuses on scaling companies that contribute to the energy transition, led the round. Jesús Lozano Lopez, Investment Director at A&G, commented on the firm’s decision to invest, saying, “Sympower’s impressive international footprint and its ability to drive growth and commercial traction were key factors in our decision. We believe that with our support, Sympower will be able to scale even further and consolidate its leading position in the European market.”

In addition to the new investment, Sympower has expanded its Supervisory Board. Jesús Lozano Lopez from A&G and Tim Healy, former Chairman and CEO of EnerNOC, a leader in energy intelligence and demand response, have both joined the board. Their expertise will be instrumental in guiding Sympower through its next phase of growth.

Existing investors, including Rubio Impact Ventures, which first backed Sympower in 2019, have also expressed their continued commitment to the company. Helmer Schukken, Partner at Rubio Impact Ventures, stated, “We are thrilled to continue supporting Sympower’s mission to drive the renewable energy transition forward, alongside our partner, the European Investment Fund. This investment reinforces our confidence in Sympower’s leadership in enabling grid flexibility and promoting greener power solutions across commercial and industrial sectors.”

With its expanded funding and strategic initiatives, Sympower is poised to continue its leadership role in the European energy market. The company’s commitment to advancing grid stability through demand-side flexibility and battery energy storage systems aligns perfectly with Europe’s renewable energy goals. As Sympower scales its operations and extends its service offerings, it is set to play a pivotal role in the region’s transition to a cleaner, more resilient energy future.