Swedish company Ingrid secures €35 million to finance its expansion in storage, particularly in France

Swedish company Ingrid, active in energy flexibility and network technologies, has completed a secured senior bond issue of 400 million Swedish kronor (approximately USD 43 million), with a maturity of three years, as part of a financing program that could reach one billion SEK (nearly USD 108 million).

DNB Carnegie Investment Bank AB and Skandinaviska Enskilda Banken AB acted as joint lead managers for the transaction. According to Ingrid, the issuance attracted “strong interest from a wide range of Nordic and international institutional investors,” with demand exceeding the initial amount offered.

The net proceeds from this fundraising will be used to refinance part of the existing debt and to support the group’s investments, particularly in the development of new battery storage systems, including in France.

In early 2026, Ingrid partnered with Wattmen, a French developer of energy storage solutions , to deploy 200 MW of battery energy storage (BESS) systems in the French market. The various projects are expected to reach the “ready-to-build” stage between 2026 and 2027.

“Thanks to our battery systems and software solutions, Ingrid brings flexibility on an ever-increasing scale, improves the efficiency of the energy system and helps to ensure a reliable and affordable electricity supply,” said Axel Holmberg, CEO of Ingrid.

Founded in 2022 and based in Stockholm, the company now has a portfolio of over 450 MW (650 MWh) of battery storage capacity and claims to have raised over €300 million in capital since its inception. Its key assets include Finland’s largest energy storage facility, with a capacity of 70 MW (140 MWh), and one of Sweden’s largest projects, with 100 MW (200 MWh).

Via pv magazine France.