Eco Stor Attracts X-Elio and NIC as New Backers for German-Norwegian Battery Energy Storage System

Credit: Burst/Pexels

German-Norwegian system (BESS) company has secured substantial investment commitments from global renewables developer and private equity firm Nature Infrastructure Capital (NIC).

Founded in 2018, Eco Stor specializes in energy storage systems utilizing second-life batteries sourced from electric vehicles (EVs). Initially launched by Norwegian architecture and design firm Incube AS, the company gained majority ownership in 2019 through investment from the venture capital arm of Norwegian utility A Energi.

With a robust pipeline exceeding 6 GW, Eco Stor recently announced plans for a 300-MW/600-MWh BESS in Wittlich, Rhineland-Palatinate, set to commence construction by the end of 2024.

Under a strategic partnership facilitated by A Energi Invest, X-Elio and NIC have joined forces with Eco Stor, although specific financial details were not disclosed.

For X-Elio, this investment signals its entry into the German storage market, bolstering its European footprint and advancing its storage strategy. Meanwhile, NIC's participation follows its 2022 of local solar developer MaxSolar, further solidifying its presence in the German renewable energy sector.

The collaboration underscores a growing trend of partnerships and investments in sustainable energy solutions, positioning Eco Stor at the forefront of innovative BESS technology.

Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use

Support Renewable Energy News!

At EnergyMagz, we believe that reliable, up-to-date news on renewable energy is vital for driving the world toward a sustainable future. By contributing, you’re not only supporting quality journalism, but also helping to shape the world’s transition to greener solutions.
DONATE  NOW
Every contribution, no matter the size, makes a difference.
close-link