26 Nov Sympower Raises €21.3 Million to Improve European Energy Solutions

We’re excited to announce that Sympower, a promising company in Expon Capital’s portfolio, has raised €21.3 million in new funding. This money will help Sympower improve Europe’s energy systems. A&G Energy Transition Tech Fund led the funding, with support from the European Investment Fund and other investors, including Expon Capital.

With this new money, Sympower plans to grow its business. They will develop new energy storage solutions using batteries, possibly buy other companies, and expand across Europe. Sympower already manages 2GW of flexible energy capacity and wants to help even more European markets with their energy needs.

Why This Funding is Important

The European Commission says that flexible energy use is crucial for a sustainable future. This means adjusting energy consumption based on supply and demand. A recent report shows that using flexible energy solutions could save Europe €12 billion each year by 2050 in grid investments. Sympower’s work helps make energy use more flexible and efficient, benefiting both energy companies and consumers.

Investors Believe in Sympower

This oversubscribed round shows that investors believe in the company’s potential. We think Sympower can help Europe transition to a more sustainable and reliable energy system.

As Expon Capital, we’re proud to support Sympower as they work to improve Europe’s energy landscape. We’re excited to see how this funding will help them grow and develop new technologies.

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