{"id":15380,"date":"2024-11-15T09:23:10","date_gmt":"2024-11-15T09:23:10","guid":{"rendered":"https:\/\/startgreen.nl\/sympower-raises-e21-3-million-to-accelerate-energy-transition\/"},"modified":"2024-11-15T09:23:10","modified_gmt":"2024-11-15T09:23:10","slug":"sympower-raises-e21-3-million-to-accelerate-energy-transition","status":"publish","type":"post","link":"https:\/\/startgreen.nl\/en\/sympower-raises-e21-3-million-to-accelerate-energy-transition\/","title":{"rendered":"Sympower raises \u20ac21.3 million to accelerate energy transition"},"content":{"rendered":"

Sympower, a PDENH portfolio company, has raised 21.3 million euros to accelerate the energy transition. This leading independent provider of flexibility services will use the capital for the rollout of battery energy storage solutions and further expansion of its activities in Europe. Future mergers and acquisitions are also planned to further strengthen Sympower’s market position. <\/strong><\/p>\n

<\/p>\n

The investment round was led by A&G Energy Transition Tech Fund (A&G ETTF) with support from the European Investment Fund (EIF). On behalf of existing investors, PDENH was joined by Activate Capital, Rubio Impact Ventures, and Expon Capital. <\/p>\n

Balance on the grid<\/strong><\/h6>\n

The power grid must always be in balance: supply and demand must be equal. Gas and coal-fired power plants provide this balance when insufficient energy can be produced from solar and wind, but these plants are not exactly climate-friendly. <\/p>\n

Sympower has developed software that helps the electricity grid stay in balance. In the event of a power surplus or shortage, the company switches devices on or off at businesses, for example. By balancing national electricity grids and enabling energy flexibility, Sympower helps companies optimize their energy consumption, support the energy transition, and unlock new revenue streams. <\/p>\n

Simon Bushell, founder and CEO of Sympower:<\/strong><\/h6>\n

\u2018We are pleased with the confidence shown by our investors. This investment is an important step in further developing our battery energy storage offering and bringing our mission \u2013 enabling the energy transition in Europe \u2013 closer. With a team of more than 200 employees in 10 countries and a strong presence in Scandinavia and Greece, Sympower looks forward to the opportunities to further expand its impact within the European energy market.\u2019 <\/p>\n

Anthony Viellevoije, Investment Director PDENH:<\/h6>\n

\u2018I am proud to see Sympower and its fantastic team scale up time and again. This fourth investment round, in which PDENH is participating, marks another major milestone. It is also very good to see that A&G ETTF and EIF have joined to accelerate the impact that Sympower enables with its elegant balancing technology in the volatile market conditions that we are increasingly seeing in Europe.\u2019 <\/p>\n

About PDENH:<\/h6>\n

The Sustainable Economy Participation Fund North Holland (PDENH) has made a significant contribution to the transition to a sustainable and circular economy over the past ten years. The fund has invested over 70 million euros in innovative and sustainable projects in the region. Since September 2023, it has been a closed-end fund focusing on follow-on investments in existing portfolio companies. PDENH is managed by ROM InWest, KplusV, and StartGreen Capital. <\/p>\n","protected":false},"excerpt":{"rendered":"

Sympower, a PDENH portfolio company, has raised 21.3 million euros to accelerate the energy transition. This leading independent provider of flexibility services will use the capital for the rollout of battery energy storage solutions and further expansion of its activities in Europe. Future mergers and acquisitions are also planned to further strengthen Sympower’s market position.<\/p>\n","protected":false},"author":8,"featured_media":15381,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[121,153,129],"tags":[],"class_list":["post-15380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-pdenh","category-startgreen-capital"],"acf":[],"_links":{"self":[{"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/posts\/15380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/comments?post=15380"}],"version-history":[{"count":0,"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/posts\/15380\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/media\/15381"}],"wp:attachment":[{"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/media?parent=15380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/categories?post=15380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/tags?post=15380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}