Sympower, Europe’s leading independent flexibility services provider, has secured €19 million in funding from pension investor PGGM, investing on behalf of PFZW, the Dutch health care pension scheme. The investment extends Sympower’s Series B1 funding round to €42 million total, marking a pivotal step in scaling the company’s battery energy storage system (BESS) optimization solutions and pursuing additional mergers and acquisitions.
With over 2.7GW of flexible distributed energy assets under management across Europe, Sympower has established itself as a market leader in energy flexibility. The company currently manages over 0.5GW of battery energy storage assets in the Nordics and recently announced the rollout of its BESS optimization services in Greece, with plans to target other promising European battery markets using its decade of flexibility expertise.
“This strategic investment allows us to unlock the next phase of our BESS vision and unlock new acquisition opportunities to strengthen our offering,” said Simon Bushell, CEO and founder of Sympower. “Having PGGM on board is a powerful vote of confidence from one of Europe’s most respected institutional investors. Their long-term, impact-driven investment approach is deeply aligned with our mission to build a more sustainable and resilient energy system.”
PGGM’s investment is part of their recently launched €1 billion Climate and Energy Transition Solutions (CETS) impact strategy, with €800 million dedicated to direct equity investments aimed at accelerating Europe’s energy transition. “Sympower has a highly skilled team that has built a leading flexibility platform. Our investment will contribute to the next phase of the company’s growth and into new markets,” said Tim van den Brule, investment director at PGGM Infrastructure. “We expect Sympower to contribute to good returns for the benefit of PFZW participants and enable further incorporation of renewable resources in the electricity mix.”
PGGM will join Sympower’s Supervisory Board to help steer long-term strategic growth, joining other impact investors including A&G Energy Transition Tech Fund, Activate Capital, and Rubio Impact Ventures. The funding positions Sympower to accelerate strategic M&A activities, deepen BESS integration capabilities, and expand into new European markets as the company builds on its track record with grid-scale battery projects in Sweden and Finland.
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