Sympower is an Amsterdam-based green tech startup. They received a $2.3 million grant from the EIC Accelerator program to grow their software platform.
Sympower’s ‘Flex4Scale’ project is an important grant recipient because it aims to create a more flexible, independent and sustainable energy system. This is necessary for the European market at this time.
The Flex4 Scale makes significant changes to the flexibility capabilities of resources. It also offers wider integration strategies, which makes the system smarter and more robust. This also gives Sympower’s customers more insights into the data analytics and optimization of the platform.
Sympower raised oversubscribed funding of $22 million in July this year. After this, the EIC provided additional funding.
The EIC Accelerator is owned by the European Commission and supports small and medium sized businesses, including startups and spinoffs, to develop and grow new ideas. These ideas are considered game-changing innovations.
The Flex4Scale project uses energy grids across the continent and smaller resources in several growing industries, such as the electric transportation industry, to provide over 1GW of flexibility.
Sympower’s decision to open its services up to more customers allows them to explore additional flexibility options.
Sympower CEO and founder Simon Bushell says, “ Europe’s transition towards renewable energy sources requires greater flexibility in their energy services. With growing uncertainty in the European energy market, we are pleased to have support from the European Innovation Council. This is a sign that flexibility services will continue to be foundational to the European energy market.”
Renewable Energy System
Sympower was founded in 2015 by Simon Bushell. Their name comes from the company’s proprietary software platform that balances the supply and demand of electricity across international energy networks.
By helping energy stakeholders worldwide reduce their carbon emissions, the company generates new revenue streams by enabling businesses and asset owners to participate in demand-side response services. They also help grid operators integrate more distributed renewable energy resources.
Sympower is active in Sweden, Finland, Norway, and the Netherlands out of its 90-person staff.
By working with customers in many different energy-intensive industries — including wood mills, data centers, greenhouses and pulp and paper — the Dutch company unlocks the flexibility of their electrical assets and processes. They recently announced plans to expand their services to Israel, Denmark, Spain and Greece.
