Accelerating the clean energy transition with Sympower
The mission of Sympower is to reduce reliance on oil, coal and gas power plants and allow for increased integration of renewables, thus saving large quantities of CO2. Sympower provides electricity grid balancing services, and as such, generates impact by reducing the use of fossil fuels and enabling more sustainable electricity sources such as wind and solar to deliver to the grid.
The electricity grid must always be in balance, i.e. demand and supply of electricity must be equal. Traditionally, this balance is provided by fossil-fuel power stations who can alter their output to meet the demand. This implies two issues for our environment: 1) it requires use of fossil fuel to do so therewith emitting CO2 and 2) there is a limit to the flexible capacity of the fossil-fuel power plants and with the increase in wind and solar on the grid, that limit is within reach.
Sympower provides cost-effective and sustainable balancing services to the electricity grid. The Sympower software platform responds to fluctuations in the supply and demand of electricity grid in milliseconds, by regulating the consumption or generation of electrical installations across multiple industrial and commercial sectors (such as waste facilities, wood processing plants, datacenters and greenhouses), while taking care not to interrupt primary processes.
Founded in 2015, Sympower has over 100 team members and is active in nine countries, including the Netherlands, Sweden, Finland, Norway and Israel. Their customers operate in a wide range of energy-intensive industries, including paper and pulp, greenhouses and battery energy storage.
Transforming Europe’s electricity grid
In the summer of 2022 Sympower secured €25 million of further VC investment to accelerate Europe’s energy transition, led by Silicon Valley based cleantech fund Activate Capital.
“Given the current uncertainty in both the financial and energy markets, we are delighted to have secured further VC investment and we welcome aboard the experienced teams of Activate and Expon. The ongoing trust and support of Rubio and our other current investors is also invaluable as we accelerate the expansion of our services across Europe. This will help enable the transition to a clean energy system, and assist in solving short term problems during the current EU energy crisis.”– Simon Bushell – CEO and Founder of Sympower
For more information, please go to sympower
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