The US Navy & Department of Defense recently announced storage investments totalling $100m as utilities begin relying on the military to bail them out in times of crisis
STABL Energy closes €15m funding round
German energy storage start-up STABL Energy has closed a financing round of €15 million.
New investments from the Danish growth fund Nordic Alpha Partners, the European Innovation Council and funding from existing investors - UVC Partners and Energie 360 Grad's Smart Energy Innovation Fund - will enable STABL to “expand and scale its net-zero energy storage system internationally”, a statement said.
STABL’s technology incorporates used electric vehicle batteries for battery storage systems.
Dr. Nam Truong, STABL co-CEO and co-founder added: "We are delighted to have secured Nordic Alpha Partners (NAP), a strong and experienced partner who shares our philosophy and vision. It is particularly valuable that NAP deeply understands our current and future challenges and is already supporting us with their experience, network, and value-creation approach. The new partnerships are an important milestone for STABL to drive the energy transition through our battery storage."
Rasmus Lund, senior partner at Nordic Alpha Partners, added: "For us, STABL Energy is one of the most promising greentech companies in the European storage market. We fully share the company's vision and look forward to supporting the four founders and team in their rapid internationalisation. The impressive growth and market traction is a strong validation of STABL’s pioneering technology and a sweet spot investment for Nordic Alpha Partners. We look forward to the united journey, on a shared vision to accelerate the path to netzero, via market driven technology transformation.”