Sympower Secures €2.3 Million from the EIC Accelerator
Just a few months after a €22 mn round, our portfolio company Sympower secures a €2.3 million grant from the European Innovation Council (EIC) Accelerator program. ⚡
The grant will fund Sympower’s ‘Flex4Scale’ project, which seeks to strengthen and grow Sympower’s existing platform, as it advances adaptability capabilities for an increasing number of markets throughout Europe.
While providing almost 1GW of flexibility to energy grids across the continent, the Flex4Scale project will also harness the flexibility of smaller assets (less than 1MW), across a growing number of industry sectors, such as the electric transportation industry.
💬 “Establishing Europe’s energy independence and transition towards renewables requires greater flexibility services. With the increasing uncertainty of Europe’s energy market, we are delighted and reassured to have the support from the European Innovation Council. The direct support from the EU Commission is a sign that flexibility services remain critical to the future of Europe’s energy.” – Simon Bushell, CEO & Founder of Sympower.
👉 Read the full press release here: https://lnkd.in/e9JB8dic