Flower raises €60m in debut bond as Twaice secures €24m EIB financing

Swedish battery energy storage system (BESS) developer and optimiser Flower has successfully completed a SEK 700 million (€60m+) senior secured bond issuance with a three-year tenor. The transaction attracted strong institutional interest, with demand exceeding the issued volume, the company said on Thursday.

The deal marks Flower’s first bond issuance and represents what the company described as an important milestone in its long-term financing strategy. Proceeds will be used primarily to refinance existing debt – further strengthening the company’s financial foundation—as well as to advance the development of energy infrastructure assets across Europe.

“This financing strengthens our platform and allows us to continue scaling critical energy infrastructure across Europe. It’s a major leap forward for both Flower and the energy transition,” said John Diklev, founder and CEO of Flower.

In November 2025, Flower announced its expansion into the German, Finnish, and Dutch markets. Having secured full market access in all three countries, the company has begun energy trading beyond Sweden and the wider Nordic region.

Alongside trading activities, Flower is building out a substantial pipeline of in-house developed battery energy storage projects across Europe. Large-scale projects are currently being contracted in Germany, the Netherlands, France, and Belgium, together amounting to a multi-gigawatt-hour pipeline.

Meanwhile, battery analytics platform Twaice has secured €24 million in long-term venture debt financing from the European Investment Bank (EIB), backed by the InvestEU programme. The funding will support the company’s product development and global expansion as battery storage operators increasingly turn to data-driven tools to manage growing fleets.

“This long-term financing from the EIB helps us accelerate the growth we’re already seeing in our business,” said Stephan Rohr, Co-CEO of Twaice. “As storage operators scale their fleets, they need operations that scale with them. Built on deep battery expertise, we help teams improve performance and profitability while reducing manual effort.”

Predictive analytics enables battery developers to anticipate degradation, optimize performance, and extend lifetime of their systems. By learning from vast real‑time and historical data, it also accelerates innovation in cell design, control software, and resource use, helping bring better batteries to market faster and at lower total cost of ownership.

“By backing TWAICE, we are not only reinforcing Europe’s technological leadership in advanced battery analytics, we are also supporting innovation that enables smarter, more efficient use of clean energy across the economy,” said European Investment Bank Vice President Nicola Beer.

The growing challenges in BESS operation are shared widely across the industry: according to the results of Twaice’s new BESS Pros Survey released earlier this week, 45% of operators experience unexpectedon-site issues at least monthly.

Twaice said its battery energy storage systems business nearly tripled in 2025. According to the company, its tools have contributed to measurable operational improvements for storage operators, including an average increase of around 5% in recoverable energy and a reduction in analyst time per asset of 80–90% through greater automation of reporting and workflows.

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