Sympower Secures $21.3M to Expand Energy Flexibility Solutions in Europe

Amsterdam-based Sympower has raised €21.3 millionin a Series B1 financing round, aiming to expand its flexible energy management technology across Europe. The funding will support the rollout of battery energy storage solutions, future mergers and acquisitions, and scaling operations in key markets.

Founded in 2015, Sympower specializes in virtual power plant technology that helps manage electricity supply and demand by shifting power among providers. This approach enhances grid resilience by relieving pressure on the grid and enabling more efficient use of existing energy capacity, ultimately reducing the carbon footprint associated with electricity production.

CEO Simon Bushell emphasized the increasing demand for such solutions in Europe, stating, “Sympower has grown tremendously in recent years, which aligns with the unprecedented demand across Europe for diversified and mature energy flexibility solutions. I’m grateful for the continuous support of our investors and delighted to see new ones putting their trust in us.” He added, “This new funding will be key in expanding our operations and enabling us to deliver a sophisticated and mature offering for battery energy storage systems.”

The European Commission has identified energy flexibility services as essential to the continent’s energy transition. Sympower’s European footprint includes operations in the Nordics and Greece, with over 2GW of flexible distributed resources. The new funds will also enhance Sympower’s capabilities in industrial and renewable energy sectors, broadening its trading activities in new markets.

The round was led by A&G Energy Transition Tech Fund, with participation from the European Investment Fund (EIF) and existing investors like Activate Capital and Rubio Impact Ventures. Jesús Lozano Lopez, Investment Director at A&G, noted, “Sympower’s significant growth, commercial traction, and European expansion were determining factors which convinced us to invest. We’re confident that we can enable them to unlock the next phase of their scale-up growth and to consolidate their leading position in Europe.”