HESSTEC secures €12 million in investment from Suma Capital, ABB, and VERBUND X Ventures to bolster its technological capabilities and expand its market presence in advanced energy storage solutions.

Target Company Overview

Hybrid Energy Store Solutions (HESSTEC) is a pioneering company focused on advancing energy storage technologies to facilitate the transition towards cleaner and more efficient energy systems. The company recently secured a significant capital injection from three esteemed international investors: Suma Capital, ABB, and VERBUND X Ventures. This strategic investment, totaling €12 million, will enable HESSTEC to enhance its industrial and technological capabilities, including the establishment of its own production line for smart control systems and the expansion of its renowned Advanced Grid Lab. This facility serves as a unique experimental environment in Europe, aimed at validating energy storage solutions in both real and simulated grid scenarios.

Industry Overview in Europe

The energy sector in Europe is in a transformative phase as it shifts towards a more sustainable model. Recent fluctuations in electricity supply and demand, exacerbated by a high penetration of renewable sources, have emphasized the urgent need for technologies that provide flexibility, resilience, and intelligent control. Companies are under pressure to innovate rapidly to meet these industry demands.

In this context, the demand for advanced energy storage solutions is on the rise. Hybrid systems that combine various battery chemistries and other storage technologies are becoming essential for managing gri