German-Norwegian battery energy storage system (BESS) company Eco Stor has secured substantial investment commitments from global renewables developer X-Elio 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 acquisition 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.
