iwell raises €27 million to deploy its leading European smart battery storage solutions into new markets
Summary
With this investment, iwell will be able to accelerate its growth and international expansion, initially focusing on high-potential markets such as Germany and the UKregions facing increasing grid congestion and rising demand for smart energy solutions. For example, DAF Trucks has partnered with iwell to offer customers in Europes key e-truck markets to invest in the electrification of their fleetseven in the face of current and future challenges in the energy sector.iwell has already established offices in Belgium, Germany, and the UK. Electrification of heat and transport creates challenges with the power demand only expected to accelerate due to the growth of AI and data centers.David Tuohy, Chairman of the Supervisory Board commented: People often underestimate the complexity of the energy transition. De Jong added: In a world where increased pricing volatility, unpredictable demand and a growing share of renewables have become the norm, intelligent controls are key to optimize energy flows. There are so many ways to make money with a battery but you really have to understand the specific customer situation.Meridiam, through its Green Impact Growth Fund (GIGF), and Invest-NL will support iwells management in executing its expansion strategy and strengthening its market position.