Weekly renewables M&A round-up (Sep 9-13)
Sep 13, 2024 17:19 CESTAmsterdam-based flexibility services provider Sympower on Monday said it has raised an additional EUR 3 million (USD 3.07m) to bring its Series B financing to EUR 25 million.
The company secured EUR 22 million from five venture capital funds in July.
Using a proprietary software platform, Sympower offers flexibility to energy grids in Europe, while helping industrial and commercial customers to lower their energy bills by using the flexibility of their assets. Flexibility is needed to support renewable generation. The company says that the need for its services is amplified by the current energy crisis. According to a previous announcement, Sympower’s platform provides almost 1 GW of flexibility to energy grids across Europe.
The additional funding comes from Activate Capital, the lead investor in the July round, and Rubio Impact Ventures and PDENH, which also participated in the initial funding.
Sympower will use the new capital to expand to Greece, where the balancing markets are now open, as well as to Italy, Poland, Hungary and the Czech Republic.
(EUR 1 = USD 1.025)
Weekly renewables M&A round-up (Sep 9-13)
Sep 13, 2024 17:19 CESTBattolyser Systems raises EUR 30m in Series A funding round
Sep 12, 2024 11:35 CESTRenewables rise and Russian gas declines, says EC report
Sep 12, 2024 11:11 CESTRWE to build ultra-fast battery storage system in Netherlands
Sep 10, 2024 15:09 CESTOCI sheds global methanol business for USD 2bn
Sep 09, 2024 18:21 CESTNetherlands splits 2 offshore wind zones into smaller 1-GW sites
Sep 04, 2024 8:32 CEST