Sympower, Europe’s leading independent flexibility services provider, has secured €19 million in fresh funding from Dutch pension investor PGGM, investing on behalf of Pensioenfonds Zorg en Welzijn (PFZW). The funding, an extension of Sympower’s Series B1 round, raises the total round to €42 million.
The new capital will fuel Sympower’s expansion in battery energy storage system (BESS) optimisation and support its growing mergers and acquisitions pipeline. With over 2.7 GW of flexible distributed energy assets already under management, the company aims to deepen its role in Europe’s evolving energy flexibility ecosystem.
Sympower currently manages over 0.5 GW of BESS in the Nordics, with active projects in Sweden and Finland, and recently expanded into Greece. The firm now plans to target other promising European markets, leveraging a decade of experience in flexibility services to accelerate project rollouts.
“This strategic investment allows us to unlock the next phase of our BESS vision and strengthen our acquisition opportunities,” said Simon Bushell, Founder and CEO of Sympower. “Having PGGM on board is a powerful vote of confidence from one of Europe’s most respected institutional investors. Their long-term, impact-driven approach aligns perfectly with our mission to build a sustainable, resilient energy system.”
PGGM, which manages over €250 billion in pension assets, has allocated nearly €7 billion to energy infrastructure. Its investment in Sympower is part of the Climate and Energy Transition Solutions (CETS) mandate—a €1 billion impact strategy aimed at scaling innovative energy transition solutions in developed Europe.
“Sympower has a highly skilled team and a leading flexibility platform. Our investment will contribute to its next phase of growth and new market entry,” said Tim van den Brule, Investment Director at PGGM Infrastructure. “We expect Sympower to generate strong returns for PFZW participants while enabling greater renewable integration into Europe’s electricity mix.”
Sympower is the fifth company to receive investment under the CETS mandate, following SCW Systems, Carbon Collectors and RIFT. PGGM will also join Sympower’s Supervisory Board to support its governance and long-term strategy.
With backing from PGGM and other impact investors including A&G Energy Transition Tech Fund, Activate Capital, Rubio Impact Ventures, PDENH, and Expon Capital, Sympower is gearing up for its next growth phase.
“The next chapter for Sympower is all about scale: strategic M&A, deeper BESS integration, and new markets,” added Bushell. “This round gives us the capital and the confidence to accelerate, and with PGGM by our side, we’re better positioned than ever to help Europe build a cleaner, smarter energy system.”
