Funding Round attributes
Sympower, a provider of energy flexibility solutions, has raised €21.3 million in a Series B funding round led by A&G Energy Transition Tech Fund (A&G ETTF), with contributions from the European Investment Fund (EIF) and existing investors including Activate Capital, Rubio Impact Ventures, PDENH, and Expon Capital. This funding will support Sympower's expansion in the European market and integration of battery energy storage systems (BESS) into its offerings, aimed at enhancing grid stability as renewable energy usage increases.
Founded to address the growing need for energy flexibility, Sympower helps stabilize electrical grids by aggregating distributed energy resources (DERs) and enabling them to respond to fluctuations in demand and supply. Currently operating with a portfolio of over 2 GW of flexible resources, Sympower is already a leader in the Nordic and Greek markets and plans to expand its presence across Europe. This capital will support Sympower’s growth trajectory by enabling mergers and acquisitions and expanding trading capabilities into new energy markets.
CEO Simon Bushell expressed gratitude for investor support, saying, “Sympower has grown tremendously in recent years, which aligns with the unprecedented demand across Europe for diversified and mature energy flexibility solutions.” He emphasized that the oversubscribed funding round reflects investor confidence in Sympower’s approach and team capabilities, positioning the company to deliver advanced BESS solutions.
Part of the funding will be used to enhance Sympower’s Supervisory Board, with Jesús Lozano Lopez from A&G joining, along with Tim Healy, former Chairman and CEO of EnerNOC. Sympower's commitment to advancing Europe's energy transition also aligns with its investors’ goals, as noted by Helmer Schukken, Partner at Rubio Impact Ventures, who said, “We are thrilled to continue supporting Sympower's mission to drive the renewable energy transition forward.”
Sympower’s platform, coupled with the new investment, positions it to meet the demands of a rapidly evolving energy landscape, supporting grid stability and expanding its renewable energy solutions across Europe.
