Spanish battery startup HESStec backed by Austrian utility Verbund and ABB

Austrian utility Verbund and Swiss electrification company ABB are among the investors to join a funding round held by Spanish hybrid- and battery-energy storage system developer HESStec.

They joined existing Spanish HESStec backers Elewit, the IT company, and renewables developer RIC Energy. A press release issued by Verbund to announce its participation said Barcelona-based venture capital investor Suma Capital also took part, via its SC Net Zero Ventures fund.

HESStec’s energy storage systems are based on its INMS and can combine batteries with different chemistries with ultracapacitors.

The Valencian startup says its systems can provide grid services including electricity frequency regulation, load shifting, and seasonal storage.

The seven-year-old company, which has 40 employees, says it develops and operates energy storage projects with a focus on hybrid systems and patented control algorithms.

While Verbund did not reveal the total raised in the latest funding round, HESStec said the cash would be used for an intelligent control systems production line and to expand its energy-storage-testing Advanced Grid Lab.

The Austrian utility’s investment, via its Verbund X Venture arm, represents a strategic move into energy storage and grid flexibility innovation.

From pv magazine Deutschland.

Are you a startup in the large-scale battery storage space looking to pitch and connect with industry leaders?
Or are you an investor or professional eager to discover cutting-edge innovations from the next generation of energy startups?

Join us at the Battery Business & Development Forum’s Networking Reception, where promising startups meet potential customers, investors, and partners.

Event Details:
📍 Frankfurt
📅 July 15–16

• July 15 (Evening): Networking reception with startup pitches
• July 16: Full-day conference

Organized by pv magazine, Conexio, and SolarPower Europe, this event brings together key stakeholders involved in planning, investing in, or providing services for large-scale battery storage systems.

🔗 [Learn more about the agenda and register to attend]

🚀 Startups: Apply now to pitch your solution!