Octave.energy raises €10 million for European expansion
Belgian startup Octave.energy secured €10 million in Series A funding to scale Battery Energy Storage System (BESS) and Energy Management System (EMS) solutions across Europe.
Octave.energy, a CleanTech startup based in Mechelen, Belgium, announced it has raised €10 million in a Series A funding round. The financing consists of equity and flexible debt capital and is led by SPDG Growth, the family office of the Périer-D'Ieteren family, which has invested in the company since its Seed round. Other participants in the round include imec.isTart, BNP Paribas Fortis, and KBC.
The company stated that this funding allows it to deploy its Battery Energy Storage System (BESS) and Energy Management System (EMS) solutions to a wider client base across Europe. Founded in 2020, Octave.energy develops smart battery energy storage systems designed for industrial customers, small-to-medium enterprises, and the agricultural sector. The firm focuses on first-life LFP battery energy storage systems that include integrated control and monitoring capabilities.
According to Octave.energy, electrification is accelerating faster than grid capacity in Europe can support. This dynamic creates challenges such as grid congestion and volatile electricity prices for businesses. The company stated it provides clients with the flexibility to monetize their energy assets using optimizers of their choice while maintaining a focus on uptime.
