Energy flexibility services provider Sympower has acquired Flextools, a Nordic flexibility technology provider, from Norwegian energy group Å Energi.
Sympower’s platform provides demand response services to commercial and industrial businesses, enabling them to earn revenue to balance the grid by temporarily adjusting the consumption of their energy-intensive equipment.
The company has also recently announced the roll-out of flexibility solutions for Battery Energy Storage Systems (BESS) and is expanding its flexibility services to solar and wind companies.
Flextools’ Software-as-a-Service (SaaS) platform provides access to demand response and balancing services to energy companies and asset owners, enabling them to participate independently. Flextools’ platform can also be applied to demand-side assets, BESS, and renewables.
The acquisition will accelerate Sympower’s the company’s growth throughout Europe, spanning the Nordics, Greece, and the Netherlands. Sympower adds 250 MW to its portfolio and 19 employees to its team.
According to Simon Bushell, CEO and founder of Sympower, Europe’s energy transition needs flexibility solutions that optimise portfolios of consumption, production and storage assets across all value streams:
“Flextools’ and Sympower’s offerings complement each other, and we are impressed by their track record in Norway and Sweden, and the significant steps they have made on BESS and renewable energy services.
Not only do we inherit a strong portfolio of solutions, but also the deep industry knowledge and experience that Flextools brings.
We are better equipped than ever to deliver exceptional value to our customers and partners while supporting Europe’s energy transition.”
Sympower’s and Flextools’ teams will start working together from day one to develop synergies and ways of increasing customer value.
“I know Flextools is in good hands with Sympower,” affirmed Victoria Fearnley Landmark, Flextools’ CEO.
“We will have more capacity and investment for greater innovation and market opportunities. I’m also looking forward to expanding our footprint outside the Nordics, given what Sympower has already achieved in the Netherlands and Greece.”
Lead image: Sympower team. Photo: uncredited.
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