25 March 2021

More good news from PDENH, which we manage. PDENH is participating in an investment round in Sympower, in which it has been involved since 2019. Sympower provides smart software to balance the supply and demand of electricity on the grid. The investment round was successful, with Sympower raising €5.2 million. Read all about it in the press release below.

- press release - 

Sympower raises £5.2 million

Alongside Koolen Industries, Rubio Impact Ventures, Enfuro Ventures and Casper Peeters, PDENH is participating in an investment round in Sympower. PDENH has been a shareholder in Sympower since mid-2019. Sympower supplies smart software to balance the supply and demand of electricity on the grid.

Anthony Viellevoije, Investment Director at PDENH:
“We are proud of the progress Sympower has made since our initial investment in the summer of 2019, which has seen the company’s international rollout from Finland to Sweden and the Netherlands well underway. With this follow-on investment, we confirm our confidence in the team, will re-accelerate the rollout to other European countries, and create high-quality local jobs in the province of North Holland.”

The investment underscores the strong, rapidly increasing demand for flexibility solutions, which is reflected in the growing share of renewable energy sources and the opening up of new European electricity markets, as encouraged by the European Commission. At this crucial point in the energy transition, Sympower's growth will be further accelerated by the new funding.

Flexibility is essential for the energy transition. It helps maintain a stable electricity system by balancing supply and demand in the face of increasingly unstable solar and wind power sources, as well as demand from e-mobility and electric heating. Sympower's software solution can manage a wide range of electrical assets and processes, such as steel melting, paper production, electric vehicles, and HVAC systems, and use them to support the electricity system. Sympower is active in Finland, Sweden, and the Netherlands, and its customers include grid operators such as Fingrid, Svenska Kraftnät, and TenneT. It also collaborates with leading European energy company Vattenfall in Sweden.

Read the whole thing here Press release.