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5.2 million raised by Sympower, PDENH is co-investing

By News, PDENH, Press

March 25, 2021

Even more great news from the PDENH managed by us. PDENH is participating in an investment round in Sympower, in which it has been participating since 2019. Sympower supplies smart software to balance the supply and demand of electricity on the grid. The investment round was successful, Sympower raised 5.2 million euros. Read all about it in the press release below.

- press release - 

5.2 million raised by Sympower

Together with Koolen Industries, Rubio Impact Ventures, Enfuro Ventures and Casper Peeters, PDENH is participating in an investment round in Sympower. Since mid-2019, PDENH has been participating in Sympower, which 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 first investment in the summer of 2019, which has given shape to the company's international rollout from Finland to Sweden and the Netherlands. With this follow-on investment, we reaffirm our confidence in the team, re-accelerate the roll-out 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 rising share of renewable energy sources and the opening of new European electricity markets, as encouraged by the European Commission. At this crucial point in the energy transition, the growth of Sympower will be further accelerated by the new financing.

Flexibility is essential for the energy transition. It helps to maintain a stable electricity system by balancing supply and demand in the face of the increasingly unstable supply of solar and wind sources and the demand for e-mobility and electric heating. Sympower's software solution can manage a wide variety of electrical assets and processes such as steel smelting, paper making, 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 partners with the leading European energy company Vattenfall in Sweden.

Read the whole here press release.

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