Sympower acquires FlexTools and strengthens leading position in energy flexibility in the Nordics.

20 December 2024

Sympower, a leading player in energy flexibility solutions and a portfolio company of PDENH, has further strengthened its position in the Nordics by acquiring FlexTools. This move follows the success of Sympower's investment round in November, in which the company raised €21.3 million. PDENH, co-managed by StartGreen Capital, played a key role in this financing round. Sympower's first acquisition responds to a growing demand for advanced and mature flexibility solutions and will accelerate the company's growth across Europe.

Leading position further strengthened

With the acquisition of FlexTools, a flexibility technology provider, Sympower expands its technology portfolio and strengthens its position as market leader in the Nordic countries. FlexTools provides software solutions for grid balancing and has a proven track record in Norway and Sweden. This acquisition allows Sympower to optimise its services and further expand its customer base, making a significant contribution to accelerating the energy transition in Europe.

Anthony Viellevoije, Investment Director PDENH:

"Sympower took an important step in November with the successful investment round of €21.3 million, which allowed the company to accelerate its growth plans. This acquisition of FlexTools is a concrete outcome of that ambition. It shows that Sympower is not only technologically advanced, but also operates strategically to increase its impact on the energy transition. We are proud that PDENH was able to contribute to this and look forward to what else Sympower will achieve."

Want to know more about this acquisition?

Read the press release on the Sympower website.

About PDENH:

The Participatiefonds Duurzame Economie Noord-Holland (PDENH) has made a substantial contribution to the transition to a sustainable and circular economy over the past decade. The fund invested over EUR 70 million in innovative and sustainable projects in the region. Since September 2023, it is a closed-end fund and focuses on follow-on investments in existing portfolio companies. PDENH is managed by ROM InWest, KplusV and StartGreen Capital.

Want to know more about PDENH? Then take a look at the fund page or visit the fund website.