Energy tech firm Flower raises EUR 45m to expand across Europe

Swedish energy technology and storage solutions provider Flower has closed its Series A funding round at EUR 45 million (USD 49m) with an additional EUR 20 million to support its geographic expansion and advance the development of its AI-powered battery energy storage systems (BESS).

The fundraising was led by Northzone and saw support from an investor group including Giant Ventures, 82an Invest and Sony Innovation Fund. Angel investors also participated, such as EQT Foundation partner Thomas von Koch and game developer King’s founder Sebastian Knutsson.

The Series A round has brought the capital raised by the Swedish energy tech company to EUR 100 million.

Founded in 2020, Flower combines software technology with flexible energy assets, with a focus on battery storage trading and optimisation. It is currently present in Sweden and Denmark and plans to conquer the DACH region, France, the Netherlands and Belgium throughout 2025 and 2026.

In September, the company agreed to acquire the rights to a 40-MW/80-MWh ready-to-build BESS project at home from local renewables developer Arise AB. That deal, which expanded the Stockholm-based firm’s battery portfolio to 270 MW, followed an agreement to buy a 42.5-MW BESS from Swedish renewables developer OX2 AB.

(EUR 1 = USD 1.090)

Choose your newsletter by Renewables Now. Join for free!