ABB has announced a strategic minority investment in Spanish energy storage innovator HESStec, deepening its push into hybridized energy storage system (HESS) and battery energy storage system (BESS) technologies.
The investment, made via ABB Electrification Ventures, enhances ABB’s position in the rapidly evolving energy storage market and supports its recently launched BESS-as-a-Service offering. Financial terms of the deal were not disclosed.
HESStec, founded in 2018, is known for its advanced hybrid energy storage solutions combining battery cells and ultracapacitors. Its technologies address a range of grid and commercial challenges such as power reliability, microgrid stability, and renewable energy integration. The company also focuses on applications including EV fast-charging, peak shaving, and industrial site optimization.
With a workforce of 40 employees, HESStec is actively developing proprietary manufacturing capabilities and operates a megawatt-scale grid laboratory in Europe.
ABB’s investment will integrate HESStec’s engineering and energy optimization expertise into its portfolio, enhancing the company’s offerings in grid-forming energy storage systems and energy management software. These advancements are central to ABB’s strategy to deliver affordable, scalable, and financially accessible clean energy solutions.
“Our investment in HESStec expands our technological capabilities and reinforces our commitment to pioneering energy solutions,” said Stuart Thompson, President of ABB’s Electrification Service division. “By combining HESStec’s hybrid storage technologies with our BESS-as-a-Service model, we are addressing key financial and operational barriers to energy storage adoption.”
According to Eugenio Domínguez, CEO of HESStec, the partnership with ABB marks a “significant milestone,” providing the company with a strategic platform to scale its technologies and deploy advanced solutions globally.
“Combining ABB’s global reach with our specialized expertise allows us to accelerate the deployment of resilient, decarbonized grid solutions,” Domínguez said.
ABB joins several major investors in the latest funding round, including climate tech fund Net Zero Ventures managed by Suma Capital, Austria’s energy leader Verbund, and existing stakeholders Elewit (part of Redeia Group) and RIC Energy Holdings.
ABB Electrification Ventures has now invested approximately $85 million in 16 startups since 2021. It forms part of ABB Ventures, ABB’s corporate venture arm, which has invested $450 million across more than 50 startups since 2009, targeting electrification, automation, robotics, and motion technologies.
