MFT Energy has acquired a majority stake in Northium Energy, a Denmark-based developer of grid-connected Battery Energy Storage Systems (BESS), marking a significant step in MFT Energy’s Envision ’28 strategy to expand into physical energy assets.
The transaction has been completed and signals MFT Energy’s entry into utility-scale battery storage development, strengthening its position across the energy value chain as renewable energy penetration from wind and solar continues to rise.
Northium Energy specializes in developing utility-scale BESS projects that support grid stability, system flexibility, and the integration of intermittent renewable energy sources. Through the partnership, Northium Energy will gain access to fresh capital to accelerate and scale its project pipeline, alongside MFT Energy’s market optimization, algorithmic trading, and market execution capabilities aimed at maximizing the value of battery assets in power markets.
As part of the strategic move, MFT Energy plans to combine battery project development with its expertise in energy trading and optimization, enabling value creation across development, operations, and participation in power, balancing, and ancillary service markets.
Commenting on the development, Bo Palmgren, CEO and Partner at MFT Energy, said the acquisition represents a major milestone under the Envision ’28 strategy, enabling the company to move into physical assets while leveraging its market expertise, trading capabilities, and technological foundation together with Northium Energy’s development platform.
The partnership will be anchored within MFT Energy’s leadership team, with a focus on strong governance, clear ownership, and long-term strategic alignment as the BESS platform scales.
Tore Høffner Andersen, who oversees MFT Energy’s BESS activities and serves as a board member at Northium Energy, highlighted the strategic fit between the two companies, noting that battery storage development requires long-term alignment between markets, development, and governance.
From Northium Energy’s perspective, the transaction marks a key growth phase. Managing Director Nikolaj Krog Juhl said that bringing MFT Energy on board as a majority investor provides strong capital backing and access to advanced trading and optimization capabilities, positioning the company to scale its BESS portfolio across multiple markets and fully realize the value of its project pipeline.
