Hybrid Energy Store Solutions (HESSTEC) raises 12 million euros through investment from Suma Capital, ABB, and VERBUND X Ventures to expand its advanced energy storage capabilities and accelerate its international growth.
Target Information
Hybrid Energy Store Solutions (HESSTEC) is a leading player in the energy transition sector, recently enhancing its shareholder base with the entry of three prominent international investors: Suma Capital, through its fund SC Net Zero Ventures, ABB, a Swiss multinational known for its electrification and automation solutions, and VERBUND X Ventures, the corporate venture arm of Austria's leading energy provider and one of Europe's major energy groups, VERBUND. This strategic investment includes a capital increase of 12 million euros, positioning HESSTEC as a European leader in advanced energy storage solutions.
The funding allows HESSTEC to fortify its industrial and technological capabilities by launching its own production line for intelligent control systems and scaling its renowned Advanced Grid Lab, a unique experimental environment in Europe for validating storage solutions in real and simulated grid scenarios.
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Industry Overview in Spain
The investment occurs in a critical context for the European electrical grid, increasingly sensitive to generation and demand imbalances due to growing renew
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Suma Capital, ABB, VERBUND X Ventures
invested in
Hybrid Energy Store Solutions (HESSTEC)
in 2023
in a Other Corporate deal
Disclosed details
Transaction Size: $12M