December 10, 2024
Sympower acquires Flextools
Our portfolio partner Sympower is strengthening its footprint in the Nordics with the acquisition of Flextools, a Nordic flexibility technology provider, from Norwegian energy group Å Energi. Sympower’s first acquisition responds to a growing demand for advanced and mature flexibility solutions and will accelerate the company’s growth throughout Europe.
Combining expertise to accelerate Europe’s energy transition
Through this acquisition, Sympower and Flextools will unite their industry expertise, technologies, and teams to better serve their extensive portfolio spanning the Nordics, Greece, and the Netherlands. Sympower adds 250 MW to its portfolio and 19 employees to its team.
Our platform provides demand response services to commercial and industrial businesses, enabling them to earn revenue to balance the grid by temporarily adjusting the consumption of their energy-intensive equipment. We have also recently announced the roll-out of flexibility solutions for Battery Energy Storage Systems (BESS) and are expanding its flexibility services to solar and wind companies. Flextools’ Software-as-a-Service (SaaS) platform provides access to demand response and balancing services to energy companies and asset owners, enabling them to participate independently. Flextools’ platform can also be applied to demand-side assets, BESS, and renewables.
“We believe that the challenges inherent to the energy transition can be tackled more effectively by strong pan-European players”, explained Simon Bushell, CEO and founder of Sympower. “Europe’s energy transition needs flexibility solutions that optimise portfolios of consumption, production and storage assets across all value streams. Flextools’ and Sympower’s offerings complement each other, and we are impressed by their track record in Norway and Sweden, and the significant steps they have made on BESS and renewable energy services. Not only do we inherit a strong portfolio of solutions, but also the deep industry knowledge and experience that Flextools brings. We are better equipped than ever to deliver exceptional value to our customers and partners while supporting Europe’s energy transition”.
Customers and partners will gain a broader, tailorable offer of secure and scalable flexibility solutions, covering consumption, storage, and renewable production assets. They will also be able to access more demand response and balancing markets quicker and choose to let Sympower handle the daily operation or do it themselves.
Looking ahead: a unified offer and new partners
Sympower’s and Flextools’ teams will start working together from day one to develop synergies and ways of increasing customer value. This alignment will ensure continuity for existing customers and partners, who will already be able to benefit from the expanded solution portfolio, and strengthen the companies’ ability to deliver their solutions. Sympower’s leadership will work closely with Flextools’ teams to integrate operations and streamline services.
“Our goal is to create a unified offering serving different customer preferences. We’re very happy to be able to bring the Flextools’ employees on board, and look forward to having our teams working together and benefiting from each other’s technology and experience”, added Bushell.
