German decentralised storage developer Scale Energy has successfully closed an oversubscribed seed funding round.
The equity funding is led by Climentum Capital, a European early-stage climate tech investor, with participation from Vireo Ventures as well as existing shareholders Antler and P3A.
The funding will further enable Scale Energy to increase its operational footprint across Germany and accelerate the deployment of industrial battery projects.
Battery projects will be financed through a CapEx facility provided by a DACH based energy-focused infrastructure investor with a commitment for 100MW.
Scale Energy is building Europe’s largest decentralized network of energy storage.
Instead of building expensive greenfield storage infrastructure, Scale Energy uses existing, often underutilised grid connections to store energy in batteries and balance the power grid.
Additionally, by using the storage to shift electricity consumption from high- to low-price time windows and reduce their grid fees via peak shaving, industrials enhance their energy security, lower CO₂ emissions, and meet their sustainability targets.
Scale Energy has already developed a project pipeline of more than 500MW at more than 100 industrial sites, mainly in Germany and Austria.
Existing customers of Scale Energy include paper producers, automotive suppliers and aluminum manufacturers.
Elias Aruna, Scale Energy chief executive, said: “At Scale Energy, our mission is to support industrials in redefining their energy use. We deliver solutions that reduce energy costs, stabilize the grid, and drive decarbonisation.”
Dörte Hirschberg, general partner at Climentum Capital, added: “Scale Energy is not only unlocking an immense problem in the energy transition, but the team is also solving financial scaling challenges.
“Few companies manage early on to bundle venture and infrastructure CapEx financing into a convincing structure that enables attractive offerings for industrial customers.”